A big fat hear, hear to that, SB! Your post echos my thoughts...

A big fat hear, hear to that, SB! Your post echos my thoughts exactly -- esp. the macro comments re-Indo -- so I won't duplicate them here. (My cumulative loss was somewhat larger than the figures expressed in some of the earlier posts, fwiw.)

PH lost my vote late last year in the lead-up to the AGM voting. As all y'all may remember
the trigger issue was around rem voting. I've previously written at length about the events at that time, which I won't repeat here.

The final straw for me re-PH was when I caught him in a fib shortly before the AGM voting deadline. The fib was low-level, but it removed the veil (and any doubt I had previously harboured) that I was being bullshitted to in order to court my vote around the rem issue.

That was the beginning of the end for me. It influenced my AGM voting, but more importantly, guided my decision to aim for a managed full exit of my position following an uptick in the SP. I never got it. The market had other ideas and I eventually took my lumps around two months later.

Note to Self: When you catch your Chair (nee CEO) red-handed actively bullshitting you, exit immediately. There's a good chance it will save you from greater losses down the track.

I don't begrudge PH from earning a living. In many respects I see the issues encountered as emblematic of deeper problems/challenges/risks associated with operating in the highly speculative end of the resources sector. Australia's version of Silicone Valley, if you will. It's always gonna attract the entrepreneurial types at both ends (i.e. managers and capital, both chasing glory). The test is how you conduct yourself when you're an office bearer of that capital. Or, perhaps put another way, what it does to you when you operate inside that particular machine for several decades.