Long Run Explor Ltd Ord WFREF

RE:uptick...dividend buying

[VENMan]

yeah like he knows. On paper yes Mr. Nuttall is right you would think that a company that has $100 million to spend and uses $20 million to pay a dividend and $80 million on drilling would grow faster and show a better ROE than a company with $100 million to spend and uses $50 million to pay a dividend and $50 million on drilling. Oh if only it was that easy. In reality many times the company that pays a bigger dividend and spends less on drilling shows better drilling results than the one who spends more money. Mr. Nuttall's way of thinking is like saying the team that spends the most amount of money on players will win the Stanley Cup when in reality the team that spends the least amount on players could come up and win. I think there is nothing wrong with buying a company like LRE that is paying a nice dividend, with a low PE, and who can still manage to go out and buy out so called growth companies that pay no dividends. I would think,Mr. Nuttall's fellow teammates that run Sprott Resources and happen to be our biggest shareholder feel the same way or why else invest here. The question I would like to ask Mr. Nutall or another expert is: If these so called companies that pay no dividends have better growth potential than the ones that do then why are they not the ones buying out the dividend paying companies? Best of Luck to All Shareholders !!