That last point you make is very good. This is because I am a great believer in paying a first big divy as a reward for all the hard work the long termers have put in without receiving any return for many years, either in the form of divys or an appreciating sp.
I note that the sp recently touched near my average buy price which underscores this point. Of course I knew divys were far off after I stuck with HGO when pit mining closed, but to get little or no capital growth hurts given we have had a long string of good announcements (more than I dared to hope for) and nothing really negative since that f’n mining machine we tried to test was barely able to dig a tunnel long enough to get itself out of the rain.
I had experience of this “reward divy” with another coy in the medical sector where there was a huge payout after their product hit market due to the huge number of years of nothing while it was developed.
i was pretty certain that Lachlan understood this need. Let’s hope Bob is of the same view - after all he has joined after the operation is up and running and has not had to deal with the pain holders have been in.
You cannot always live for a bigger future reward - sometimes the starving have to be fed and the roof repaired before one moves on with the future vision. It’s cold in a Melbourne winter without a warm coat.
