Hi DAK!
The problem with commenting on management is that its a subjective evaluation. Any pumper will tell you that company XYZ has strong management. Okay, but the next question you need to ask is 'compared to what?' One management team may be aggressive as hell, and spend, spend, spend to put a project in play and raise the share price. That may make some shareholders happy, but does that amount to good management? Another group may be strong at exploration, but have no clue or ability to promote themselves. Again, there are strengths and weaknesses to that approach. If you are interested in seeing a project move forward and can afford to be patient and wait while the market assigns the proper asset valuation, then you will consider the company to be well-managed. However, another investor may have a completely opposite opinion of the same management group. So how can you say there is 'strong management' without first qualifying the parameters you have used to make that assessment? I bet less than 1 in 100 posts ever bothers to consider that. Think about it the next time you read about strong management.
Now that the rant is out of the way, for my money strong management is about fiscal responsibility, strength in negotiating, well defined corporate vision, and the ability to raise capital funding. You could also add a proven geological background or past experience in running a successful mining operation to that list, but then again any good manager will be able to hire talent for those requirements. So the list of well-managed companies in my world are:
IPT.V / EGD.V - Fred Davidson is probably the most under-appreciated executive in the business
EAS.V - a dream team of fully qualified executives with decades of direct experience working with majors
RDU.V - ditto...
MAG.V - perhaps the best technical talent of any junior in the mining business, and Peter Megaw is probably the best geologist in Mexico
I own all of the above except RDU and that one is on my buy list.
cheers!
COACH247
PS: Great new forum Grusum! |
