Gem of the day

Following allegations of corruption and bribery in operations in the Congo, Mehmet Dalman, the embattled new CEO of extractives firm Eurasion Natural Resources Corporation, must have a great quote lined up about ENRC's approach to governance (via the FT):

"We want to be open and transparent,” Mr. Dalman says. “We’ve got nothing not to talk about. It is a new era of openness here."

Right. But who can blame Dalman for his lame defense when he operates in a market environment dominated by insights like this gem, courtesy of an analyst at Deutsche Bank:

“Trust takes time to build. The stock is very cheap, but [Mr. Dalman] needs to keep saying the right things, over a long period. It will be a slow value-improvement story.”

So we'll just keep on with the talking points then, shall we Mr. Dalman?

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