If You Don't Pay a Dividend, You're Not ...

Tony Kiernan has chaired more WA miners into the big leagues than just about anyone.

He was founding chair of BC Iron when it listed at around $12m, chaired Pilbara Minerals from lithium hopeful to the ASX 50, chaired Saracen through the Super Pit deal and Northern Star merger, and has chaired Genesis from about $330m to a gold producer worth more than $8B+.

He's a former lawyer from a trucking family, and his father's line stuck: "If you don't pay a dividend, you're not in business, son."

Decades of shareholder letters show a philosophy that has barely moved.

We wanted to understand how he does it.

Tony covers:

• The three rules he gives anyone trying to make it in mining• Why cash in the bank beats accounting profits, and how much he always keeps in reserve

• Stories from BC Iron, Pilbara, Saracen, Genesis and selling an Eritrean gold mine to the Chinese• How he sizes up MDs, and why he rates CFOs so highly

• The Altura deal and backing lithium when nobody else would

• Proxy advisors, executive chairs and what makes a good director

• Why six is the right number of directors

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TIMESTAMPS  

(0:00) Tony Kiernan's Business Philosophy

(08:15) The Drilling Business and Eritrea

(14:27) How to Chair a Board

(19:25) Pilbara Minerals and Lithium

(24:05) Dealmaking and the Altura Acquisition

(30:19) Proxy Advisors

(35:46) What It Means to Be a Director

(41:55) Lachlan Star

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All information in this podcast is for education andentertainment purposes only and is of general nature only. Please ensure you read our ⁠⁠⁠⁠⁠⁠⁠⁠full disclaimer⁠⁠⁠⁠⁠⁠⁠⁠.