Here we go again, Spencer Resources has found a silver lining in the cloud
PortfolioDirect
Here we go again, Spencer Resources has found a silver lining in the cloud. Shareholders have now approved a proposal for the South Australian based mineral explorer to become a technology company specialising in cloud based services. This is not the first time technology has appeared more appealing than mining to small listed companies. It happened near the bottom in the previous resources sector market cycle when disenchanted miners opted to explore the information superhighway in preference to their original calling. They were wrong. Within a year or two, the technology bubble had burst and a historically strong mining sector cycle was underway. There is one big difference this time if the Spencer Resources transaction is any guide: the technology business is already profitable.
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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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...
Expertise
No areas of expertise