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Tinkler set to exit Racing

West Australian Racing
DamienWyerDamienWyer    8,010 posts
edited August 2012 West Australian Racing

If you would believe this article from the SMH, Nathan Tinkler has tried to sell off everything at Patinack Farm and was told it was grossly overpriced. Now there is speculation in regard to the upcoming HIT Sale on the Gold Coast.

http://www.smh.com.au/business/has-nathan-tinklers-luck-run-out-20120816-24bku.html

 

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Comments

  • loose_gooseloose_goose    2,135 posts

    Interesting article, especially if Harvey has given him 20 mill up front.

     

    Don't like his loud mouth, brash up front style.

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  • ChrisChris    5,736 posts
    What a spectacular fail.
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  • coastalchillcoastalchill    126 posts
    At least he had a go.Had greedy bad advisers.
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  • TheFunksterTheFunkster    3,840 posts

    Not sure about that.
    He's just looking to free up some cash for further company aquisitions.
    Makes sense to dispose of "assets" that aren't making money to buy ones that have the potential to be highly profitable.
    If his business play/s come off, he could then increase his racing empire far more than what it is now.

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  • [DeletedUser][DeletedUser]    0 posts
    edited August 2012
    Just another millionare  who found a mine and got rich other wise he be like everyone else has had more trainers then i have had dinners.
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  • ChrisChris    5,736 posts
    That is wishful thinking Funk.

    If I was him I'd just bank the 800 mill and kick back!
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  • H-BOMBERH-BOMBER    10,567 posts
    Maybe it got All Too Hard for him :-?

    TheDiva likes this post.

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  • [DeletedUser][DeletedUser]    0 posts
    Th mining boom in this country is coming to a fast close i think this guy trying to pull plug more then says a little watch this space over the next few years we are so tired to china now they are starting to slow will start to show up here big time in next few years.
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  • goosegoose    1,638 posts
    Think he is just trying to pay his bills read somewhere that horse were costing him $500000 a week which I find hard to believe looks like he has major cash flow problems.
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  • DamienWyerDamienWyer    8,010 posts

    Mailman you are very close to the truth there. Being Perth based with two extended family members being long time mining people, I can tell you that the whispers are starting about selling up those shares and getting cashed up, as the good times are looking a bit lean on the horizon.

    In respect to Mr Tinkler, I am sure that along with every other well heeled buyer in the land, that ultimately the decision to purchase, or even to start looking for a horse, starts and ends with him. I know I can't make or force any of my clients to buy a certain animal just because I insist on it. He probably needs better advice, as his stock don't seem to produce the results in line with his investment, and it makes me think that he hasn't got a clue about horses. But he is just the latest in a long line of guys who thought they knew the ins and outs of a ducks nuts, but in reality knew two fifth's of two thirds of nothing.

    Talk of $20M for All Too Hard was the most solid indicator to me that he was desperate for cash. Also indicated that they haven't quite got an understanding of value.

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  • TheDivaTheDiva    13,248 posts
    edited August 2012
    show me a man whose results are in line with his investment!

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  • goosegoose    1,638 posts
    http://www.canberratimes.com.au/national/tinklers-racing-ambition-falters-20120816-24bsd.html there is the article lads and ladies.
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  • goosegoose    1,638 posts
    Sorry was already posted. :(
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  • [DeletedUser][DeletedUser]    0 posts
    The Diva said:

    show me a man whose results are in line with his investment!

    Big Col ?
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  • REDONEREDONE    41 posts

    I like the bloke, he is self made and if he has something to say he does just that, he has been through a ton of trainers and stud managers, but has the money to change his mind who he uses and employs. He puts his money where his mouth is, just has a bigger mouth and wallet then most!

    As for mining trust me... it has years and years to go. Two of the big companies are currently duplicating rail lines and juniors are doing figures on building their own......China may slow down but within 5 years India will be our biggest buyer of Iron Ore.

    Jordan, TheFunkster, Chelsea likes this post.

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  • TheFunksterTheFunkster    3,840 posts
    Rio has a massive chain of projects to come online, Shell's Prelude project, Inpex's Icthys, Chevron's Wheatstone & Gorgon Expansion, Gina's Roy Hill, to name but a few multi billion dollar projects in the pipeline. The only thing holding them back is lack of labour resources. WA is set to become the biggest LNG producer in the world.
    Browse will go on the backburner as several of the JV partners have other big projects of their own to bring online. They'll use the enviro protests as an excuse to defer FID.
    Word is that BHP are paring back their expansion plans and culling 100's of people from there iron ore expandsion projects, but that is because Marius & co made some very bad investment decisions in shale oil and BHP tend to be ruthless & focus on near term returns for investors.
    The only reason mining may slow down is that they can't compete with the oil & gas industry for attracting the labour.
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  • goosegoose    1,638 posts
    When are they going to clear the Safa's out of BHP? making mistakes like that should spell the end but no they are survivors and very much promote their own....
    Labor shortage to me is an excuse not to pay top rates may only affect Roy Hill they can get labor from over east if need be plenty of blokes in Melbourne ans Sydney who would fifo to pilbara. But you are right Funky still a few years to run yet will be interesting to see what happens 2016.
    As for Tinkler when he sells All Too Hard you will know he is running real short.
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  • DamienWyerDamienWyer    8,010 posts
    I have all the time in the world for someone who pays their bills, I have none for anyone who doesn't.
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  • hashhash    7,495 posts
    the future of the mining industry is like predicting the lotto numbers.. no one can! minesites are discovering new pits to mine for ore a dime a dozen aswell as the guys underground finding high grade nickel in the walls all the time which means the contracts and jobs are far from over!! so all you oldies out there just take a step back and relax, no need to get your apple pickers in a knot.
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  • dungydungy    9,278 posts
    Cmon Hashy you havent been on the Ciders again have you mate :-c
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  • hashhash    7,495 posts
    haha nope, havent had a cider for over a week now mate.. before i posted that yesterday i was fresh out of a meeting, state of the nation as they call it, for mt gibson iron ;-)
    safe to say i have some idea of the direction of the industry... either that or my boss/s are doing what our ex's did (tell us something we wanted to hear knowing it was all a load of BS)
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  • TheodorTheodor    199 posts
    Tinkler has a track record in the mining game of being ahead of the curve. He is chasing money to make his biggest bet ever in coal. I for one hope he is right. The more money made in the mining industry the better off the racing industry.
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  • DamienWyerDamienWyer    8,010 posts

    http://www.smh.com.au/business/creditors-send-debt-collectors-to-tinkler-20120820-24ipe.html

     

    Seems he does have a track record.

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  • DamienWyerDamienWyer    8,010 posts

    I met a Chinese Engineer in the carpark at Belmont on Saturday, he had never been to a race meeting and had some questions about Racing in general. So as we chatted I asked about the so called boom coming to an end and the scaling back of China in the market. He said FMG would announce shortly some cutbacks, well it didn't take long....

     

    http://au.news.yahoo.com/thewest/a/-/newshome/14746758/fmg-to-cut-jobs-costs/

    http://au.news.yahoo.com/thewest/a/-/newshome/14745047/jobs-to-go-as-argyle-diamonds-cuts-costs/

     

     

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  • RIORIO    14,902 posts

    Would it be fair to say , that after the conversation finished you were wiser about  the mining industry than he was about the racing industry!!!!!! hahaha

     

    :-)) :-)) :P :P

     

    Only joking Damo..you help is greatly appreciated by all of us lucky enough to be given it!!!!

    TheFunkster likes this post.

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  • JordanJordan    1,827 posts
    edited September 2012
    Bhp just canned the inner harbor project at port headland fmg canning all up coming projects as they r massively in debt rio only one spending it is definitely grinding to an abrupt halt quickly politics maybe ?? Hearing rumors that Gina's Roy hill project is going to hit the scrap heap pretty shortly also !!!
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  • fifodynamofifodynamo    243 posts
    sounds like you know what your talking about Jordan ,,,,, what do you sugest we all do to keep ahead of it all and stay in the game ,, since you know know best that is !!!
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  • RIORIO    14,902 posts
    i'd suggest that those in that industry...not worry too much..it is only the growth that is being delayed ......China's population grows by more than Austrtalia's total population every year....They cant put development on hold forever!!!!
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  • obrienrbobrienrb    630 posts
    Pretty sure a Chinese company was allowed to buy a mine in aus....that isn't goin to help the iron ore sales much...Hope they got a lot for it!
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  • TheFunksterTheFunkster    3,840 posts
    FMG are a lot more susceptible to lower iron ore prices than the big boys as their production costs per tonne are higher and the quality of there ore is lower than BHP's let alone Rio's.
    Anyone who wants to invest in something where you can get a far better return than a racehorse or gambling, have a look at Atlas Iron; its shares have been massively oversold, they have bugger all debts and good quality and quantity of ore reserves

    cedar likes this post.

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