✦ Mention Ashok Parekh and people will recognise the name as a highly respected presence in the Kalgoorlie community.
Ashok Parekh talks about his experience in Kalgoorlie and the activities within the Mineral Resources sector.
Noel Ong, CEO of Samso has heard of Ashok Parekh for many decades. Which is not surprising.
Mr. Parekh is a legend in more than one sense of the word. His presence in the Kalgoorlie is undeniable, having been there since 1984. To say he knows everything there is to know about the industry would be an understatement. He is also a legend in the mineral resource industry. It is not every day that one gets the chance to listen to someone who is well entrenched with the developments of the industry, which is why Noel was so keen to speak to him.
Noel has had countless insightful conversations with thought leaders across industries, and his conversation with Mr. Parekh is one that stands out in the Samso space - after all, here is a living legend in the flesh, sharing his experience and wisdom.
What makes Mr. Parekh so intriguing is his skill in making deals. Making a deal in this sector requires a steady and steely resolve. This sector is comparable to navigating through all the dangerous creatures lurking in the Southern Ocean. And even in this, Mr. Parekh has made himself a legend in how he manages deals in his industry, and turning it into quite an art.
Mr. Parekh is someone who is in what the industry calls the ¨purple circle¨. Here is a man who has done it all, and his experience, knowledge and wisdom are what investors are seeking. There is much to be gleaned from this conversation with Mr. Parekh. Perhaps after listening, investors may be inspired to reach out to Mr. Parekh for more.
Bookmark this conversation - you'd want to have a second listen and find other like-minded people in the industry to share what you've learnt with.
Listen to Ashok Parekh here:
01:26 Ashok introduces the story.
03:08 What was the Mining Industry like back in 1984?
05:42 What was the exploration industry like in the 1980s and now?
07:42 The lessons learned from the Silverlake Resources Limited IPO.
09:55 The Mystic of Paddy Hannan.
12:16 The success story from Kalgoorlie.
14:42 Race is not an issue in this industry.
15:44 What is Kalgoorlie like now?
17:13 The Industry is all about Boom and Bust.
18:04 The beauty of the Goldfields.
19:47 The potential of the Superpit.
20:27 Silver and Zinc potential in the Goldfields.
21:03 Biggest Issue for the Goldfields.
21:19 The bottle neck of Toll Treatment.
22:15 The Business of Gold Mining.
23:54 The process of making money in the gold mining industry.
25:56 The Rydges Model.
27:57 Understanding Technical and Management.
29:42 Quality people will create good business culture.
32:18 Commodity Price.
33:06 Lithium - The Real deal?
34:45 Is this our generation of a new Industrial Revolution / E-Revolution?
39:40 Mount Holland and Red Dirt Metals Limited.
42:49 What is Ashok doing now?
44:30 Thank you to Ashok.
44:59 Diggers and Dealers.
45:56 Conclusion and Ashok´s work within the Indigenous Community.
Centenary Medal 2003 Recipient: Australian Government (Governor General of Australia and Prime Minister of Australia) Meritorious Service Award 2009: (Institute Chartered Accountants in Australia)
Mr Ashok Parekh is a chartered accountant, with over 40 years’ experience, who owns a large Accounting Practice in Kalgoorlie, which he has operated for 33 years. He was awarded the Centenary Medal in 2003 by the Governor General of Australia, and was recently awarded the Meritorious Service Award by the Institute of Chartered Accountants, the highest award granted by the institute in Australia.
Mr Parekh has over 33 years’ experience in providing advice to mining companies and service providers to the mining industry. He has spent many years negotiating with public listed companies and prospectors on mining deals which have resulted in new IPOs and the commencement of new gold mining operations. He has also been involved in the management of gold mining and milling companies in the Kalgoorlie region, and has been the Managing Director of some of these companies. He is well known in the West Australian mining industry and has a very successful background in the ownership of numerous businesses in the Goldfields. Mr Parekh was an Executive Chairman of ASX-listed A1 Consolidated Gold Limited (ASX: AYC) from 2011 to 2014.