Scale
Standing beside a haul truck on a coal mine taught me that businesses look completely different when you are on site instead of in a boardroom.
I was CTO of Aston Resources and led all innovation work — from Maules Creek and a A$400 million IPO in August 2010, through ITOCHU and debt financing, to a merger with Whitehaven Coal announced in December 2011.
Reuters reported the deal at approximately US$3 billion — creating what was then Australia's largest independent coal miner. Aston ranked third among the top 25 ASX companies for total shareholder return in the year to October 2011.
These photographs and documents are about size — capital, equipment, and consequences measured in billions, not slides.
- Decision
- Stay close to operational reality — on site, not only in the boardroom — when capital and momentum were accelerating.
- Lesson
- Scale amplifies every weakness.
Scale
Scale
Aston Resources 2011 annual general meeting presentation View documentScale
Reuters report on Whitehaven Coal acquiring Aston Resources View documentScale
Scale