RHK 0.58% 86.5¢ red hawk mining limited

Found this, makes interesting reading, below is a snip from the...

  1. 133 Posts.
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    Found this, makes interesting reading, below is a snip from the end of the article.
    https://360capital.co.nz/pattrick-smellie-whats-eating-todd-corp-why-the-big-selldown/

    Todd Energy’s former CEO, Paul Moore, has been leading the Louisiana methanol project since 2014, but the first sod has still to be turned.The challenge for the BarraBarra iron ore project is the immense capital cost of building both a railway and port to give access to the inland Pilbara mine site. The Herald estimated the joint venture, with yet another private family’s wealth vehicle, could soak up $5.9b.Or it could be that some Todd family members want their money?Todd Corp’s former CEO, Richard Tweedie, broke cover in April to tell NBR’s Tim Hunter about people “who are still there who used to work for me”, saying “no one’s at all happy”.The Louisiana project was a “joke”, the BarraBarra initiative “bizarre”, and the family would never have had a board dominated by “outsiders” in the old days, he said.What Todd Corp thought of that has not been recorded.But it would be no surprise if there were competing interests among branches of the family, which now boasts hundreds, if not thousands, of individual beneficiaries spanning several generations.


    Last edited by njipm: 16/02/22
 
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