Switzer on Saturday

Going down the mine

Founder and Publisher of the Switzer Report
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As most of the southern parts of the country shivered through the week, I was lucky enough to spend Friday at Noosa, but I didn’t bring my swimmers as I attended the Noosa Mining and Exploration Conference as a guest of the broking firm Morgans. Yeah, I had to sing for my supper by doing a panel session at the end of the day but the day’s fare was really worth consuming.

In case you’ve never been to a miner’s show-and-tell conference, it stars junior miners and service providers, where generally a CEO or founder has 15 minutes to tell you why their company is worthy of consideration. It comes with the obligatory disclaimer but I always find that most of these stories sound compelling, though I know I’d have to do a hell of lot of homework before I’d consider putting our hard-earned funds into these speculators.

One that caught my eye was a Melbourne company called Cleanteq, which is in the water business. Robert Friedland recently invested $3.5 million into this $13.8 million market cap operation.