RE:RE:RE:earnings /losses,, um, negative earnings are outI agree, maybe the shares of ADV should have been sold and just the royalty been kept. It is easy to be clever afterwards. ;-)
I think Kami will be delayed 5-7 years but will be built and that with the money we get out of the shares we can then buy some nice royalties somwhere else. Currently iron ore is dead and they are putting this thing away until 2017 as I understood the news release from ADV.
This is a marathon not a sprint. I like what they have done - securing long term stable cash flows which allows them to pay down debt and execute their business model.
Potash capacity will be increased, new partnerships on CDP might be announced, Chile, Julienne Lake, a little uranium project, collaboration with Virginia and Millrock, the van Eden investment vehicle... There are so many things going on that can deliver value in the future that I do not mind some ups and downs. The thing that bothers me is that hopefully the company can remain independet long enough not to be taken out by some bigger guys. Brian Dalton is something like 40 so he can do what he does for another 20 years which then hopefully will make a nice attribution to my pension. ;-)
Just my personal thoughts. DYODD
carinthian