Anyway, I've been researching Shaun Day's career Enjoy: And frankly what a legend?
The key bit being his 4.5 years at Northern Star, where Lurker 5 suggested Shaun had 'nothing to do with the 1000% growth' alleging and it was all to do with gold price appreciation. Well that's now total proven in my mind.
Here are some facts about Shaun Day: For the record, Shaun's tenure at Northern Star commenced in Oct 2014 to Feb 2019.
https://ibb.co/DK5bQc6 (Note the Market cap $725m Auzzie)
In that same year - 2014 - Northern Star acquired not 1, but at least 4 new major mines including:
Newmont's Jundee in late 2014 (for $82.5 million) https://ibb.co/8jQ420j
And in early in 2014 they purchased Barrick Gold’s Plutonic, Kanowna Belle and Kundana gold mines all for a total of $100 million.
Bill Beumont recognised Shaun's talent early on, in tasking him to to help deliver operational excellence: managing mine finances, balance sheets, capital development requirements and capex efficiencies across this broad portfolio of assets; 4 of which were recently relinquished by majors, to transform them into long life, low cost, massively profitable assets.
All this followed Bill's somewhat haphazard and opportunistic buying 'a mine a month' crazy buying spree in 2014.
Following doing his own due diligence on Havieron, Shaun says he personally believes Havieron is a better launch asset than Paulsens was for Northern Star. I believe him. After all, He should bloody well know.
Paulsens was purchased in 2010 for $40m from a company that totally screwed up Intredpis mines who lost everything chasing a massive Indonesian project - Yet look what Paulsens achieved after just 3 years production of just 80-90k oz per annum when ASIC was about $500 and gold about 1200/oz :
Production was high-grade - but nowhere near the projected scale of 30% of Havieron: https://ibb.co/ph4Gfyc SCALE is everything in mining becuase it reduces the relative cost of your capex.
hTTps://web.archive.org/web/20210913212 ... lchv8d.pdf
NOW just stop and consider this quote:
"Following the completion of the Jundee acquisition, Northern Star had $80 million cash on hand and has drawn down $70 million of a $100 million credit facility.
The company’s rise from junior miner to major player took place in less than six months and at a cost of just $200 million".
Evidence suggests Shaun Day is a exceptional talent, who working under the stewardship of Bill Beaumont (NST MD), knows exactly how to deliver mine profitability, financial strategy and company building growth , or as Shaun calls it 'a platform’.
This is just a fraction of the story, with Shuan on the financial tiller at NST - until he left in Feb 2019.
For Lurker5/John Cornforth .... to be seen to criticise Shuan Day, in any way , frankly, given his extensive, deep , proven credibility managing finances and capital allocation across a $7bn gold and copper mining portfolio makes Lurker5 look utterly ridiculous.
IMO the GGP market cap should be 3x the present price given the exceptional talent he brings - and given time, I’m sure it will.
Once a mature mine asset is acquired, you ACTUALLY have to RUN it (with tremendous focus and financial discipline, and technical skill in order to create such incredible outperformance).
Many organisations fail in technical execution and capital allocation discipline required to succeed.
Shaun Day presided over a market cap move of OVER 1000% from $700m to just over $7bn.
https://ibb.co/b7xKgbb AND the FACT is the gold price was more or less flat during Shaun Day's tenure as CFO at Northern Star. It went from $1254 to $1045 to $1302 - a 3.8% gain in 4.5 years - https://ibb.co/ygdH5T5
So I conclude the gold price had almost nothing to do with the massive outperformance of Northern Star between 2014 and 2019 and everything to do with operational EXCELLENCE.
