Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
As the saying goes " only fools believe that repeating the same action will eventually lead to a different result"
It could be more a matter of "where" rather than "when "to start.
IMO a good example I like to follow is laid out by H. Joly , a very successful french business man in the USA.
https://www.youtube.com/watch?v=kvDZmFq6s5U @1:03
Just like kids taking turns at playing cops and robbers..good guy..bad guys...LOL
Change tune please if you can. Lets us all concentrate on how we are going to get that copper out of the ground.
Lets become productive first and then watch the money will come. Knowing what I know about KSK it will be worth the
wait.
..looking at the 8%... ... this is what happen when you follow the finger instead of looking at the pointed target...
Tony made clear from the beginning his belief that the copper demand will skyrocket. Did he stay firm and follow and act on the strength of his conviction? I very much doubt. He gave up.. this was clear already a while back. Kalimantan takes a lot of of you. However If he had people would have recognised his foresight and beaten a path to ARS. Not the other way around.
One of the difference between a successful CEO and an average one.
Imo external factors like the commodities prices, the Mgt, the Gvt authorities etc.. never have much influence on ARS one way or the other.
Have you ever asked why the like of Cyprus, Oxiana, Freeport, eaturnum , JPM etc No one ..has seen any real value here to persist except us the shareholders. So... who are we kidding?
What remains however is to truly believe that we have a phenomenal resource and an equally phenomenal opportunity , if we are willing, to make a difference. Selling KSK will just hand over that dilemma , and opportunities, to the next owners.
On the other hand appointing another CEO will not change things greatly unless that person has vision , energy and integrity plus your backing. Yes us. Us the little guy who can make a difference as we see more and more proofs nowadays,
We all have experienced it. With the correct attitude doors always open. When they don't it is rather usually our ownselves which are closed.
When and where did Tony had success as head of a Company?
Please do not mention Oxiana because at the OX Tony was not driving force behind its success. The success at Oxiana
was reached purely by the great ambition of one man: Owen H. Owen was too ambitious in fact and later almost brought his company to its knees.
Tony is different. Although he understand well the technicalities of running a business these qualities are not sufficient to attract around him the right kind of elements he needs to turn a fledgling company into a profitable concern.
Indeed those people are a rare species.
As for Tony taking the Company from no assets to what we have now... you are ill informed.
Tony (Tiger Realms) used his Beutong asset for a reverse t/o in order to seize KSK assets. With j/v between KLG and Oxiana and later j/v with Tiger Tony was well aware of the quality of KSK potential as this was well established long before his involvement. By 1999 in fact KLG had already estimated that BK(M) had a potential of 100MT of contained Cu
Beutong has been a drain on the Company since, especially having to raise capital to fund its develop/maintenance raiding
KSK cookie jar. There is no value whatsoever apportioned to Beutong, only expenditure that we can ill afford.
Any one with a brain can see that it should be cut loose.
It's time for Tony to leave his place for someone else.
On that video Tony comes out still anchoring himself to his now 5 years strategy which has shown maigre result thus far and
offer little anything else on the horizon.
Not only that , he does not shoulder any responsibility for the failures and lack of progress; present and past.
I would say only one thing to those who wish ARS to succeed . Everyone has some capacity but it is not unlimited .
Once it is spend it does not matter what that person does . Just like a car who has run out of petrol...the driver may stay at the wheel but it will go no further. It may even be perilous if it happen on a steep slope.
Definitly Tony has lost his drive regarding ARS and he may well consider selling all stock and barrel. Whatever is best for its shareholders he said ! ..??? Was ARS ever created to be sold out to the first comer? I don't think so. There are investors who very much want it that way but really should Tony (or anyone else) care? These people only care for one thing i.e making money....do they care about the Company?...frankly if they don't why should the Company care for them?
If we need to raise capital so be it. It will be returned many fold later but we need for sure is human capital: someone with energy, vision and integrity at the elm.
Best of luck
https://asiametresources.com/wp-content/uploads/2019/10/Beutong-2014-Resource-Estimate-Report.pdf
I think it should be sold. I think there are too many question marks regarding it . Why Rio unloaded it? On top we cannot afford it. Those deep drill are horribly expensive and too much of a gamble.
Important .
If Tony (Asiamet) happens to deal with Danny Lee ( AE) we will have to seriously sharpen our game.
Danny is a superbly RESOLUTE administrator . He is EXTREMELY FOCUSED and will not hesitate to do what is right for the company moving forward.
If Asiamet is not at the top of its game in managing the mining operation or flounder in some ways, Danny will not , if need be, to hesitate a second to restructure.
Tony please WATCH THIS CAREFULLY as you have been in Kalimantan for over 5 years now and your enthousiasm is not what it used to be. If you think you are growing stale , refresh and re-energise or take a back seat. Shortcomings will no
longer be tolerated.
The fight for KSK treasures is only beginning.
VIBRANT NEW YEAR ALL
PutX - 1999 is relevant in sofar as to demonstrate how long it has been going on and how possibly how much time longer it may take. Here even , We are talking about the smallest discovery of the concession also noting in passing that exploration started some 13 years prior that.
Long time between drinks as they say.
Now If after all that ARS is still of some interest to you maybe you can ponder on the puzzle that circulated amongst geologists who were told " no need looking for it but go finding it".
Don't know about you but the way I translate it is that when one look at something there are all sort of distractions going around but when you find that object it usually means you stumble right on it and nothing else matter. So if one wish "to find it " and maybe it does not means the geologists only but includes all or most stakeholders, then I opine that we ought to come close or rather to feel very close to the project in order to bring it to life.
I personally always believed This venture was not just about resource mining but had the scope for major societal changes.
The relocation of Indonesia Capital to Kalimantan will bring dramatic transformations to the whole island with mass migration.
BTW Indonesia has a pop. of almost 300 M and the very interesting valuable fact to keep in mind is that Kalimantan is not only the largest indonesian land mass (island )and the least populated it is also the only one with no active volcanoes. That should ring a bell.
For those who think that I waffle on, you may be right. Being here a long time. I plead for your indulgence.
PutX Since 1999 Beruang Kanan was always considered as the first cab of the rank. When Tony took over he followed suit. Of all the KSK prospects BKM although the smallest is most economical as its resource is close to surface , its location is more accessible than the others , has the most drilled holes and BKM is the nucleus of a broad prospective area .
Forget about Beutong. Beutong should be sold forthwith so we don't have to raise capital sooner but at a later date.
MT we obviously diverge as we are both coming from a different angle. You favour a sale I don't.
Maybe for you there is nothing to see because the seed is still dormant in the ground.
In its current status there is no need to fuss too much but just watch so as not to trampled it. For now Its only need until it germinate is someone to watch upon it. Someone with integrity.
If and when the conditions are right a time will come for the seed to germinate and It will do so on its own accord for It does not need any external help. Just the right kind of caring.
Its a new world....new approach.....mining is new wealth (not regurgitated like Mansur said )....
As advocated here by so many; patience ...we have seen nothing yet...
IMHO bring back PETER BIRD. He has great integrity and will work for the good of the Company not for himself!!!!!!!!!!
Anyone can disagree but if one can recognise it that is how things truly are.
I will point out here that I disagree with MT about putting the Company up for sale , lock stock and barrel.
Respect should be afforded to those who still believe in this venture. For the others the door is still open.
For those of you who have not come yet to the conclusion let me share to you that this is not your run of the mill investment.
I realise that it does make little sense to say that but that is how I believe it will be. KSK is the discovery of the 21st century, no doubt in my mind whatsoever . Meaning that it will be producing for the very very long term. So please keep in mind that the world is not only changing but it does so rapidly. What we give value today may be worth much less tomorrow.
I always been of the opinion that if we want this venture to be successful we have to seriously think about how this vast wealth will be distributed before we get access to it. Simple.
Tony was hoodwinked. No doubt about it . Was Tony aware of that fact at the time of the mining journal interview?
In my opinion he must already had strong suspicions. Yet the show went on. Could he have backed up? Again, it was only mho but I posted here the question: does Tony come with the deal ? as we could see that he lost interest and wanted out.
Anyway Tony was never up to the task leading ARS to fruition. Although he does not lack qualities
his capacity to bring success was never there. Brutal reality but factual nevertheless. I am not making it
personal or boasting but I posted that fact here many times in the past. Tony is not Owen (Oxiana) I repeated.
Sad to say but Tony has now nothing left in the tank and For the sake of the Company he should no longer take decision
on the futur of ARS. It is clear He has no more enthusiasm nor any vision.
As for choosing his replacement within the ranks , there is no one up to the task. Forget about DEO, Leonard or Bruce. They don't have what it takes neither. The others already had their turn.
Good luck to us all.