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dilloncullen,
Thanks for your honest reply. I too have run very sizeable businesses each with their challenges.
Toze
Good question to me ,
However better answers have come from others DVH as example
In answer to question do I run large company,,,, at this moment in time , NO
Do I have experience in doing so, Yes
Better question not asked
Were those businesses successful , ,,,some were ,some were not
My reasoning is this
The decisions made for direction when problems occur in any business are monumental as all cost vital ,money ,time and resource. This also deflects you from the general running of the business when all was well
Time will tell
enjoy
Hi Fira,
Your message at 10:24 you said “swimming against a tsunami of megabytes”, do I detect an IT person here ? I dealt in yottabytes, lots of fun.
I would say so. Well at least a big mid corporate. I bet your Balance Sheet looked a bit better than this one! Do you also invest in bigger Co's with strong Balance Sheets - yielders etc.
Well, you two retirees, I have - at the very least - another couple of decades before I even consider it.
Wise decision Fira! I have found good health, money and 'hobbies' are the recipe to an enjoyable retirement. The second is a struggle being invested in SML lol
Morning Wolf, one of the reasons I took early retirement was to escape the challenges and hassles faced by modern businesses today. Life is too short! I couldn't possibly offer our BoD any constructive advice on how to sort the major cobre customer as I know nothing about the client and their circumstances and how they might react to any of our strategies to seek to get the $4m owed. The BoD has extensive business and finance experience/expertise (handsomely rewarded!) and, like all other shareholders here, I await the results of the strategic review.
DVH... maybe you could offer the forum and the BOD 3 resolution examples that the company could suggest our major client chose from ... The simple ‘tick the box’ will you pay or won’t you pay SML have tried is obviously not working. Looking forward to your suggestions.
The only thing that is late is the $4m from the major cobre client and that is the biggest challenge facing the company in terms of funding the purchase of Redmoor and progressing the (early) production at Leigh Creek. It just happened to coincide with relatively poor underlying trading at cobre in Q1 & Q2 with a couple of our other customers closed for maintenance. This has resulted in the BoD having to undertake a strategic review to recognise the new financial circumstances until we start generating the 'tsunami of cash' (lol) from LCCM. I would rather we get a coherent plan for the next 6-12 months when it is ready than publish something just to meet an artificial timescale contained in an email rather than an official RNS. Lets keep patient and positive, it will all come good in due course as the quality of the assets hasn't changed. Have a great day....
PS I was Finance Director of a company with an annual turnover of £200m. Does that count as experience of 'running a big company'?
Hi dilloncullen,
You asked the question and said “ Does anyone here run a large business?? I dont think there are many (if any) I can assure you its tough”. How do you know it’s tough ? Do you run a large business ?
The BOD has now had enough time (it has been more than 4 months) it’s overdue an explanation and action plan from the BOD on the US$4m for a start.
Does anyone here run a large business?? I dont think there are many (if any)
I can assure you its tough
Isuggest we do the following
Let the BOD have time to sort through and revise the way forward. Seems few posters here want a magic wand waved with full disclosure on a weekly or even daily basis to them personally (loud LOL)
The announcement(even if there is one) will be a measured well planned approach, not some knee jerk reaction to keep us lot sweet. This generally takes weeks if not many weeks to refine and plan correctly with all avenues explored
I will be concerned when they start baling out themselves
T
Survival in its current form for SML with a valuable asset is key approach for me
slow and sure wins the day
"Only fools rush in"
Have faith they did okay until the customer reneged on the cash
if the 4Mill or even a portion of it turned up tomorrow what tune would we be singing
enjoy