Mark Bennett, the CEO of Sirius Resources, addressed the International Mining and Resources Conference in Melbourne on Monday on the history of the...
Mark Bennett, the CEO of Sirius Resources, addressed the International Mining and Resources Conference in Melbourne on Monday on the history of the Nova-Bollinger nickel find in WA. The discovery, one of the most exciting industry successes in the past 20 years, was the culmination of a long sequence of low probability events starting in the late 1960s. Bennett's story was a stark illustration of the low probability of exploration success. One point stood out. The success of Sirius was due in part to the very early work of Anglo Gold, Newmont, Western Mining and Inco, all companies with deep pockets able to begin the accumulation of data subsequently used by Bennett. Given the global restructuring of the industry, this is no longer an advantage available to explorers, presenting an ongoing strategic challenge to an industry and investment markets short of capital for exploration activity.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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