Down by 5% today? Why?, page-49

@noonster - Have to agree with you 100%.

I can't think of any one real bad decision by Chris Ellison or the board of Mineral Resources since it was floated in 2006 at .90 cents per share.
When one looks back at MIN's extremely humble beginnings and the company float by CE, it certainly is an amazing story. Chris Ellison who seems to shun publicity, himself the result of hard work and risk, from memory he started with something like $10,000 cash and and a bank line of credit for $50,000.

The article below from the FIN Review is now 11 months old but certainly gives a great insight into what CE has achieved and he deserves accolades in spades - with limited schooling, yet another great and proven Australian. -- REMEMBER WHEN READING BELOW, IT IS ALMOST 12 MONTHS OLD.

Meet Australia's newest billionaire

Julie-anne SpragueRich List editor
Sep 2, 2020 – 1.06pm
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West Australian mining entrepreneur Chris Ellison has joined the nation's billionaire's club after shares in his Mineral Resources hit a record high on Wednesday.
Mineral Resources, a mining services and production company, has enjoyed a spectacular share price rally over the past six months, leaping 80 per cent to hit a record high $29.99 during trade on Wednesday.

Mineral Resources managing director Chris Ellison. Philip Gostelow
Analysis by The Australian Financial Review Rich List team values Mr Ellison's wealth at $1 billion, with his stake in Mineral Resources worth $664 million.
Mr Ellison, who left school at 15, is the company's largest shareholder with an 11.6 per cent stake. He's collected a bounty of dividends while also cashing in shares in recent years, boosting his overall wealth.

Mr Ellison also claimed the title of Australia's richest home owner in 2009 when he paid $57.5 million for mining heiress Angela Bennett's sprawling riverside mansion in Perth's Mosman Park. Mr Ellison is planning to demolish the house in favour of a seven-level fortress.
Mineral Resources floated in 2006 at 90¢ a share. Mr Ellison, who shuns publicity, has driven a major expansion of the company that not only contracts services to mining companies but also owns and operates iron ore and lithium mines.

Upsizing: Chris Ellison is planning to demolish his sprawling Mosman Park mansion in favour of a seven-level fortress.
A beautifully timed sale of its stake in the Wodgina lithium project and roaring iron ore prices have supercharged its profits. Mineral Resources last month revealed net profit after tax jumped more than 500 per cent to $1 billion, while revenue increased by 41 per cent to $2.1 billion in 2020.
Mr Ellison will collect a $17 million dividend cheque on September 15, after the company declared a 77¢ final dividend, taking total dividends paid for the year to $1.

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TDM Growth Partners co-founder Hamish Corlett has backed Mineral Resources since its IPO and told The Australian Financial Review in July that Mr Ellison was "one of the most under appreciated, great Australian success stories".
"Chris is one of the most talented, commercial chief executives that we have ever invested in," Mr Corlett said.
Mr Ellison was ranked 148th on last year's Financial Review Rich List with an estimated wealth of $661 million but will climb up the rankings when the 2020 Rich List is published later this year.
The soaring iron ore price, which hit a 6-½-year high of $US125 per tonne this week, has also lined the pockets of other well known mining entrepreneurs including Fortescue Metals Group founder Andrew Forrest, whose shares in the miner were worth $20.1 billion on Wednesday.
Mr Ellison has ambitious growth plans for Mineral Resources and wants to build two new berths at Port Hedland as he moves to double the group's iron ore exports to about 40 million tonnes within two years of getting government approvals.
Within four years, exports could reach 60 million tonnes annually, mostly from the new Port Hedland berths but with continued shipments from operations linked to the port of Esperance on WA's south coast.