We were all suckered by PB and his company at different times...

We were all suckered by PB and his company at different times over the years.

We have only ourselves to blame. I didn't heed my own gut feelings when I was wondering about the rate of acquisitions being made by Linc. Trying to grow too fast is probably the main reason for company failures that there are. The debt was always growing at an incredible rate.
Running off in different directions every time there was a sniff of a deal was PB's big downfall. He must have been a big joke at the different company board meetings when he was agreeing to buy all sorts of unprofitable mines from them. They would have massaged his considerable ego to get the response that they wanted.
He went to America thinking that he could show the Yanks how to make money out of their run down oil wells. Yeah sure. I thought this was odd but still stayed in.
He went to Unimat when the oil price was high and didn't think about why the many American companies had not bothered to get involved there. More ego I would say. I am Bond, I will show them what to do.
It just shows how luck can play a part in the success of someone like PB only to have it all disappear as soon as good prudent management is required.
I used to go to the meetings here in Brisbane and listen to his rah rah and think he was pretty good. Then I started to wonder about him when he spent so much of the companies funds buying back Linc shares. I remember emailing the company and saying that I hoped that we did not need that money down the road.

But I stayed in there in the hope that something would hit a sweet spot and revive the company. I didn't sell when they were moving to Singapore - big mistake. UCG was always the draw for me but that was dropped to the sidelines.

I, like everyone else, had heaps of chances to be gone but passed them all up.

Lockitt