GDN golden state resources limited

Firstly I would like to say how sorry I am to all of the...

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    Firstly I would like to say how sorry I am to all of the investors in:

    WHN, when they were promising a fortune from wind farms and hydrogen storage and generation. And riches from rehabilitated oil fields in Kentucky and other states.

    AKK: When rains washed out hopes of drilling in the Cooper and legal problems as Park City, etc

    GDN: when they convinced shareholders they hap winning lottery tickets as they drilled wells in the Paradox basin that delivered little.

    GRP: who's business just went belly up a few years back.

    They were all business where either management or circumstance had let down the shareholders. We all are or most of us invest to make money and want to see our capital turned into some productive enterprise, no one get pleasure out of others misery.

    They are also businesses where someone or some people with vision and skill could turn them around and create something from the ashes. They are also businesses that have a bevy of bitter and twisted shareholders or ex- shareholders following them around.

    WHN: I have moved on (mostly). But in 2010 there were many on HC here saying, "there is no way this company could ever be a 70 mil MC company". It hit 70 mil late last year, I felt it went from being cheap to fair value, sold and moved on. In 2010 there were plenty of HC threads getting stuck into "old" WHN management and "old" WHN projects, it took nearly 2 years, but both have been rotated off. and WHN is fresh and moving forward and I suspect will continue to deliver for their shareholder.

    AKK: Is a work in progress, project and management renewal have been progressing for the past 18 months. I'm still look forward to some excellent returns.

    GDN: The journey has just begun, sorting out management and projects, but it takes time.

    GRP: One still in the starting blocks, looking forward to seeing what projects will be brought in and the old management is gone already. Glad that with US gas prices they dumped the CSG project last year.

    If you find a team that is good at what they do, support them and enjoy the success. A bit like Gordon Ramsey, he takes broken-down old restaurants and replaces staff, decore, menus and turns them into booming businesses (and good restaurants)


 
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