Ann: Strong Resource Growth at Paulsens Underground, page-33

The engineer guy very much wishes BC8 well- he knows Paulsens well, from when he worked in the mine for Northern Star ( his first job, after graduating from Uni .. )

I think the Finance guys are particularly ‘entitled’, and had a spoilt time of it in their careers ( noting their ages, and likely location major city Aust)

They are comfortable and used to really cruelly cutting companies and any potential capital requirements as far down to the ground as they can risk-weigh and think of. Cruel.

They make a lot of money for people, and this is their job, development capital as favourably as possible — low and risk free with ample profit margins within , for the investment banker guys.

Les Davies and Paul Chapman will be very aware of what they hold here.

Their determination & abilities in Silverlake - are utterly clear.
They have invested their own funds, as have the entire board and management - significantly at higher shareprices in BC8, & they do not intend at all to lose on their investment or for shareholders. (Their words)

I always think of them - their job is to have shareholders and theirs and the company’s back.
Huge respect to them both + Tony (ex Avanco )- and the entire Black Cat team.
Big job for Gareth also.

There is a bit of knocking going on around the traps- which is a shame ,although it is going to happen and I think the company also accepts very much negative as well as positive comments and feedback.
It is about the time in the life - cycle of a company that this occurs more.

It’s management’s job to lead and get the company safely there ultimately. Mining - when all is right.

Horrid as it’s been, Black Cat is now a different company again to in 2020 with all these resources, infrastructure and mills and processing thankfully- but a big job.

** Can understand totally that the company wishes very much to get into small scale production at least - get going and bringing money in at these gold prices.
Esp with very high grade deposits accessible- it is they’re job and specialty to do it.

The main guy in interview would do it & notes the accurate wording in the BC8 announcements— the relatively young finance guys who need to have experienced more hard knocks in life career I think, .not ever.

All the risk—is with shareholders and the company.
This is how it always is & always will be. It’s not these guys personal money though they bandy and can say as they do.

The bank, finance people - they do their figures and can behave as if it’s their liability and they’re doing everyone else the favour - though narrow knowledge and perspective for the companies & businesses/ history and truly understanding the people within these companies, which they review and can give relatively dismissive assessments of .

They make me mad too.
Had an especially big experience with a broker and investment house in Perth in the last years- all to benefit their clients they got into a major raise and insiders & all their insto happy regular participants at enormous profits to all of them + their generous fees through 3 occasions.
Not in shareholders best interests.
Investment banking houses can start to believe their own analytical in-house valuations for capital purposes- a bit too much.
What upset me was the outright lies that were told- or gross untruths. Glib words just rolled off the tongue of a fellow about this age who was the representative through all occasions, 3 takeovers/ capitalisations. And lack of true respect and broad picture understanding.

And not true respect for small or longterm shareholders.

When they’re tucked up in bed at night, they are not ongoing thinking of what they’ve said about one company maybe , or ongoing mine plans and near & longterm strategies overall in their heads- & being responsible to manage and steer a resource and business growth through years and even a decade or more.
I don’t know these guys- but their glib comments do not sit well with me.
They could even say what they say, but quit making fun of smaller companies and their copious reporting ( this is crucial with small cap companies, absolutely crucial to keep investors abreast and aboard when been a long road ) ; & reroviding photos of developement sites and first gold bar pours !
These are fantastic things- for shareholders and management, and pride within the entire team smaller operations!! Enormous work and long hours put in remotely in difficult circumstances and huge hardwork to get operations up. Hundreds of millions worth of infrastructure!
They are still talking about $100 million+ companies here with this sort of veiled contempt also,

These guys - not with their money , but are too spoilt with fraternising with billions of dollars overall in market caps ,& somewhat disdainful view for smaller fish climbing the hill.

Everyone has got to start somewhere.
When there are significant localised resources- just idle, hundreds of millions been spent !!! in the past.
And infrastructure there- and great value if can go and get it ,+ bodies willing to do it for very adequate reward and returns and compensation for efforts.
These sorts of people wouldn’t go for it. They expect , accustomed to high wages for their financial job roles & comfortable vantage point in life although owned in their jobs.

But for most of the world- people who have the work ability and ethic, will go for opportunity if it’s there, and capture value for themselves and others where otherwise not going to occur— not now within a major huge billions of dollars global company anyway elsewise. Too much wasted.

I don’t like contempt basically. Been my experience that these people prosper who say these things - comfortable in their careers and mates , & they do have good lives. And to be heeded. These people can hurt you if you need to interact through them when needing finance . The tough building years in primary production.

But they lack a degree of respect and some real nous , can do with a bit more humility.

I think it could be good to get the practical qualified guy into the job- a win:win for all !