Hi all res-onators, As a long term holder, its been very interesting watching things unfolding rcently. Have been reading everyones post and its good to see robmillion, stured, ap, cabri, cc, crisis and anyone else Ive missed still believing in the story still and that we are finally seeing the light!!! Thought the article below was very interesting as coal get a mention. Might have to email PJ the article so that maybe he can do a presentation to Ken Tabort, former MaCarthur Coal boss. Seems hes very interested in parting with his zillions of dollars on 'early stage projects'.
ext boom will be bigger, says Ken Talbot Article from: The Australian
FORMER Macarthur Coal boss Ken Talbot spent three days in Kalgoorlie seeking investments in what he calls an unprecedented buying window. Mr Talbot became one of Queensland's richest men through his stake in Macarthur, most of which he sold last year to steelmakers Posco and Arcelor Mittal for about $700 million.
After selling at the top of the market, he says now is the time to invest in resources.
"It is an unprecedented buying time," said Mr Talbot, who flew from Brisbane in his Lear jet to attend the Diggers & Dealers mining conference in Kalgoorlie this week. Sign up to the PerthNow Business newsletter "The decisions made this year will underwrite businesses for the next 10 years," he said.
Mr Talbot did not want to talk about the Gordon Nuttall case.
Nuttall was last month found guilty of 36 counts of corruptly receiving payments, including $300,000 from Mr Talbot, who will face his own hearing at a yet-to-be decided date.
Mr Talbot was extremely bullish about the global economy's potential to bounce back to pre-crash levels, saying the next boom would be even stronger than the last one.
"There has been under-investment in supply and infrastructure and the world will be short of coking coal and energy," he said.
Last night, Mr Talbot was named dealer of the year at the conference for picking the top of the market in his sale of Macarthur shares and putting much of that money back into the resources sector.
On the energy side, Mr Talbot said he was interested in investing in oil, gas and thermal coal, although not in Australia, where coal's environmental credentials were heavily questioned.
His strategy was to enter early stage projects as an investor, but he was evaluating requests to take an operating role.
Talbot Group had about $US600m invested in carbon materials and energy, Mr Talbot said.
Its biggest holding is in Karoon Gas Australia.
RES Price at posting:
64.5¢ Sentiment: Hold Disclosure: Held
