Excellent MDG'day hybridised. I won't compare Greg Miles to...

Excellent MD
G'day hybridised. I won't compare Greg Miles to anyone because I'm certain he has more than enough of the many critical skills of the such people – and I regard management capability as perhaps the most important issue to be established before I take a big position (as I have here). Great people just make things happen (while incompetents and life-stylers can wreck even good projects / companies).

I look for value adding activities, done well, on high potential assets

When judging management I take intoaccount things such as competence, diligence and integrity etc. applied acrosskey activities like shareholder communication, capital management and so on.Critically, CEOs/MDs must apply themselves to activities likely to add meaningful value.I don’t invest in science projects. Clearly he does all of this very well.

Things never looked better but recent price had never been cheaper (huh?)

I’m very happy with what Caspinis achieving under Greg Miles and how he seems to be going about it.In fact, I think it more than probable - I would say 'highly likely' that we are on the verge of great success. If that unfolds as I expect, including the reasons why I expect it (essentially thoughtful, diligent and methodical exploration on good dirt, by capable people) then he will be due a lot of credit for having a pivotal role.

I'll go a bit broader than your question and deal with our share price given how low it and our market cap had become.In a poor market, if the share price is weak but management is doing great work on the right activities, I don’t blame them for the share price.Instead, I'll probably buy more - the shares are on sale, right??

Consistently then with what I'm saying, I’ve bought LOTS more Caspinrecently, especially during June and July.As Warren Buffett would say: “when it’s raining gold, put out the buckets not the thimbles”.In such cases, if I don't want to increase my total money in the market for some reason, I look at my rankings, sell some less prized stocks and " trade up".

Doing the right things right

In case it's of interest, here aresome obvious indicators that we're in good hands:

1.Our MD's contribution in his then role at Cassiniwas obviously very good.Having a key role in a team that attracted a corporate bid from Oz Minerals says a lot. It also was very astute to hang on to our current Mount Squires acreage when Oz Minerals essentially was focussed more on the proven nickel discovery at Nebo-Babel.Our retained acreage comes to within 200m of Oz Minerals’ One Tree Hill Prospect (which hit 40m @ 1.2% Cu and22m @1.8% Cu).Its potential is high.

BTW, we're currently well advanced on some reconnaissance drilling at Mount Squires.It’s astute to have woven that activity in while the ground is a bit wet at Yarawindah Brook and while we’re awaiting heaps of crucial assay results that will influence the way forward.

2.It waseven more astute to pick up our Yarawindah Brook acreage, on trend and adjoining the block on which Chalice later made their fantastic Julimar discovery.Yes, we did that before Chalice discovered Julimar; and of course before Chalice discovered Dampier, some 10km along trend towards our block (just announced last week).

I know Caspin always hoped to find Ni and Cu in our acreage and they’ve now done it, coupledwith high value PGEs, in multiple areas and with the exploration space even widening.Very nice.Sure, there's much more drilling to be done but the potential is clear enough, which is why I've waded into a lot more buying, especially around current prices.

3.With thedemand for the metals in question, and their pricing, Nickel/Cu/PGEs is probably the best sector if you know what you're doing. Clearly Caspin does.Companies act through their people. While we have other highly skilled people, especially in exploration, including notably on our Board, the buck stops with the MD who, unsurprisingly, is a highly regarded explorationist. Another tick.

4.I’m veryimpressed with the way our exploration is unfolding, with extremely significantresults already achieved.After picking up good dirt, you also need - as a minimum - to build a good team and implement a thoughtful but disciplined approach.This doesn’t happen by chance…

5.I think Greg also does a terrific job in clearly describing complex geological concepts and their influence on decision making. This is no easy task given that much of the data set is somewhat uncertain, being drawn from inferences about things hidden way underground and which have probably changed a lot over time. Plus it’s a moving target, as new data comes in throwing possibly a different light on things.

I rate that communication skill highly and, doing it as well as he does illustrates to me a very good, clear mind and someone who wants to help us shareholders.Also good …