blue sky mining

For those unaware, Pierpoint was a fictional character created by financial journalist Trevor Sykes and was a highlight in various financial publications in Aust. for over 25 years.

His CV:

Pierpont is old, rich and sybaritic.

He spends most of his life in the Croesus Club, consuming Bollinger and cuban cigars, while viewing the corporate fads and manoeuvres of the day with crusty humour.

Pierpont can also be sometimes found in the boardroom of his notorious company Blue Sky Mines (No Liability Except at Gunpoint), hatching some foul scheme to rob the long-suffering shareholders yet again.

Blue Sky Mining Mission Statement:

In mining jargon, of course, the phrase ``blue sky'' denotes optimism. If a company has net assets of 5? a share and its share price is 20?, then the price contains 15? of blue sky, which represents the degree of hope among investors that the company is going to find something valuable. Where Blue Sky Mines differs from other companies is that its share price is entirely blue sky because all the hard assets have long since been stolen by the geriatric thieves on its board.

BSM Operations:

There was also that bald left-wing noise maker Peter Garrett, who produced a pop album in 1990 called Blue Sky Mining. Pierpont listened to it only once, which was more than enough. Through the unmelodic din that Garrett jokingly calls music, Pierpont heard a line which went something like: ``Work all day to get a pocketful of pay.''

Obviously Garrett was totally unfamiliar with the real Blue Sky Mines, which has never dug a hole or employed a worker in its life. It is high policy at Blue Sky Mines that we mine only the market, never the earth. Mining the earth is dirty, expensive and risky whereas mining the wallets of investors is clean, low-cost and judging by the law's delay in jailing corporate criminals almost risk-free.

I dearly wish crusty old Pierpoint could be coaxed out of retirement to do a piece on Moly.

His archives, sadly only from 1995: http://www.pierpont.com.au/archives-index.htm


regards



jukieoz836