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SW shouldn't have accepted a pay rise under the...

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Just4kicks

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15/02/23

23:34

Post #: 66275164
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Originally posted by michaelhaley: ↑

Scott Williamson (MD) is constantly criticised on this forum. Shareholders are dissapointed with the share price performance and it is understandable why, some have reported over 100% losses.

Against peers, BSX.asx is amoungst the worst performing Nickel stocks over the last 12 months.

On top of this Scott was recently awarded a significant pay rise. Roughly 27% increase from memory.

Now, lets again take a step back and review this from a objective perspective, again leaving emotion behind.

For Scott to be awarded such a significant pay rise, the approval required a board vote and overall motion of support, which he got. This tells me that the Board of management and significant shareholders (who are privy to information and company progreess) are happy with his performance and feels he deserves it.

In regards to the lack of confidence for Blackstone to secure an offtake, I personally am not concerned, IMO an offtake is a very critical part of the company, Blackstone current retain 100% of their offtake and once that is gone you can't get it back. Research indicates that Nickel price will continue to rise with demand, so by locking in a offtake you loose your ability to see the potential value add thats coming. For example this time last year Nickel was roughly 16k USD per ton now it is 25k USD per ton. Blackstone are the most forward thinking Nickel company on the ASX in my opinion.

The sticking point with this company is that no one seems to believe that the team can actually pull it off.

No one ever believes its done, until it is.

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SW shouldn't have accepted a pay rise under the circumstances, not when shareholders were suffering and performance milestones weren't met.
Offtakes can be to secure supply without a price lock such as I belive PLS have with Posco and still BMX auction (ebay style) their Li to set price.
I'm not here to bag SW as he's done some hard yards imo but he's been caught out a few times stretching the truth to breaking point. Last yr there was concerning laughter when he spoke at RIU of partners just about to sign when Ecopro were on the outs.

BSX Price at posting: 14.5¢ Sentiment: Hold Disclosure: Not Held
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