Originally Posted by
Roger
Well I can't see any divvies in the years 1998 - 2007 A full decade of NOTHING based on a quick look at the news items on the ANZ securities website which only goes back to 1998. Based on my recollection most of the 1980's and 1990's was also all about building up reserves to develop Kupe and Tui so I strongly disagree with A claim that "a fair amount has been paid out over the years".
Even if you could make the assertion that the average dividend yield has been a pathetic 3% over the long haul which is something I would strongly disagree with and would be well below prevailing interest rates in the eighties and nineties not to mention this century that still leaves the destruction of 80% of that poor gentleman's wealth in real terms who invested 34 years ago and that's before accounting for the fact that he could have got far more consistent, credible and reliable dividends and capital growth elsewhere. This company has a truly shocking record of shareholder wealth destruction any way you slice and dice it. Anyone thinking of investing would do very well to ponder where all the Tui and Kupe cash has gone and is going. Bloated overheads and overpaid so called "technical experts "
Why would any geologist with world class expertise be working for this minnow ???...which leaves them just hiring the left-overs doesn't it !!