Why a bonus for banking royalties?, page-7

Yes, I voted against the motion on principle. At the moment the business model requires no skill - the royalties come in from BHP without any management 'skill' or need for 'marketing'. If they ever advertise jobs at 1/2 the rate of the incumbent management I will happily apply!

If they look towards acquiring other royalties these will likely be at a lower return to the current royalties, and effectively dilute the long-term potential of BHP, if this occurs I will be looking to exit.

DRR is certainly misunderstood in the market, I assume the global royalty players understand and are getting interested after the significant price drop which is discounting the current and future BHP volumes, even at a markedly lower IO price.