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I'll go one step further and offer the banker some advice. Sell. Throw an auction, set a insanely low reserve price, and walk away with spending money now. Su
by bruce511 3y ago
I'll go one step further and offer the banker some advice.
Sell. Throw an auction, set a insanely low reserve price, and walk away with spending money now.
Sure, walking this through the regulatory minefield, forming a company to mine, process and exploit the resource would maximise value and make the bsnkrr stupendously rich. Or it might fail at some hurdle and consume his life.
In light of this valuation 10m might sound laughable. [1] but that's life-changing money, with time enough left to enjoy it. What use is a billion when you're 80?
There's a point where more money doesn't matter, but time ticks relentlessly away. Don't waste the time, take less money now.
I know, I know, I'm an old man. For someone in their 20s this looks like a lovely long-term career that'll make you stupid rich. And you will get rich. But you'll work hard for it. Time is more precious than money.
[1] granted he may already have this money - he dropped 2m on a coal mine - but pick a number and my point stands.
Then again, there are lots of mining companies so expect some bidding way past 10m. As long as 2 are involved it's not going to be "stolen".
- Rastonbury 3y agoI reckon a banker who makes 2m coal mine investments does not need advice on maximising financial value of an asset
- true_religion 3y agoIndeed. From his LinkedIn profile we can see he has 43 years experience in finance. He is a old man as well and sat as the chairman of the National Coal Council. I imagine he knows a little something about exploiting a mine. Honestly it's weird that the title was written as if he's an amateur and not the CEO of a billion dollar company that specializes in mining.