Sevo - next funding round, page-15

Thanks Sevo, that's useful (ref back to the brokers note in particular)

Interested in people's thoughts on management here as I haven't personally been able to find much out about Greg and Michael etc. I can obviously see which firms they've been execs at, but it's hard for me to gauge whether or not they were successful there to be honest (without a lot more work at least).

Contrast that with Tony at SO4 and his seemingly important role in ramping things up at Fortescue, and the fact that he's attracted a whole host of former colleagues to join him.

Not trying to put Reward management down in any way, but it's a relatively intangible aspect of the opportunity, for me, and I'm wondering if there's a potential issue here that may be one cause of the relative underperformance valuation wise? Might some people (eg institutional investors) have doubts about them, for instance? Clearly they seem to be on the conservative side, more recently at least, but I don't see that as a problem personally.

I'm basically just clutching at straws trying to find something wrong with the opportunity that other people know and I don't!

I think you've referenced Michael's interest in gold in the past Sevo, for instance? Has he just struck it lucky with investments or was he instrumental in delivering successful gold projects? Clearly he's been involved in potash for a relatively long time too of course, but was Lake McLeod Potash successful?

Cheers

Slimbo