Australia is also blessed with many such leaders. That is, architects who can design and build an organization to meet a burning need. Here are some of those I follow and the companies who built them.
Smart mining fanatics
I worked in Andrew Forrest’s orbit 20 years ago. This was before he became the founder of the iron ore mining company Fortescue Metals Group Limited (ASX: FMG). At that time, he was building a huge nickel mine in the desert using new technology. Like Fortescue more recently, Murrin-Murrin had a number of billion dollar problems that I saw when this guy and his executive team ran off.
In addition, the growth of Fortescue’s mining operations has exceeded anything I could have imagined when he started all of this around the turn of the century. The man is a human dynamo who is always on the side of new approaches and new technologies. While Forrest is at the helm of Fortescue, I intend to keep my shares.
Another smart mining fanatic is Bill Beament, the chairman of Northern Star Resources Ltd. (ASX: NST). Bill joined the company as managing director in 2007 when the share price was 9 cents. How it moves to complete the merger with Saracen Mineral Holdings Limited (ASX: SAR) Each share is valued at $ 16.06. It’s worth noting that Saracen is run by his own intelligent fanatic in CEO Raleigh Finlayson.
The company has become known for a few things. First, they can quickly offload cartridges that they are not happy with. Second, it almost always increases the gold reserves of acquired companies. Third, the operational productivity of acquisitions also increases.
The merger with Saracen means that the Kalgoorlie super mine is under one company for the first time since Alan Bond unified all local gold mines. I’m excited to see what Northern Star could achieve with Beament as Chairman and Finlayson as Managing Director.
There are many leaders in this area who fascinate me. I’m tempted to talk about the founders of Afterpay Ltd. (ASX: APT), it’s the founders of Zip Co Ltd. (ASX: Z1P) that are currently holding my interest.
Larry Diamond and Peter Gray are the smart fanatics behind an alternative finance company, not just a company that buys now and pays later (BNPL). The step to partnership with eBay Inc. (NASDAQ: EBAY) through the company’s Zip Business arm places them right in the realm of non-bank lenders like Resimac Group Ltd. (ASX: RMC). In addition, the company already has additional loan offerings outside of BNPL and owns PocketBook, a personal budgeting tool. Finally, Zip Co has a deal with Amazon.com On his website, this is a big coup.
Of all BNPL companies, in my opinion, Zip Co is best positioned in the medium to long term, as the product range is diverse and solid business can be concluded with global partners. The pressure on margins will be less of a burden as more companies enter this area.
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Returns from October 6, 2020
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