“Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold” Leo Tolstoy – Russian writer

As a young boy I remember reading the book by Ion Idriess called “Lasseter’s Last Ride” about the 1930 search for a fabled reef with gold “as thick as plums in a pudding” in the deserts of Central Australia. A rich gold reef waiting to be discovered! I was hooked. And I was not the first. Lasseter’s Reef continues to fascinate even today. Since the fateful 1930 expedition where Lasseter died alone in the desert, many expeditions have been undertaken, and none have discovered the fabled reef.

Who was Harold Bell Lasseter?

Lasseter was born in 1880 in Victoria, Australia. In 1903 Lasseter married while living in the USA. In the USA he changed his name to Harold Bell Lasseter, ‘Bell’ being the surname of a popular American author of a book about a lost gold reef! Returning 5 years later he allegedly spent his time inventing and working in various jobs around Australia. Lasseter twice enlisted in the Australian Imperial Force (AIF) during World War I and was discharged both times without leaving Australia, once for being AWOL and for the second time for being engaged in a brawl. In 1927 he married again whilst still married to his first wife. In 1929 he claimed to have submitted the original design for the Sydney Harbour Bridge and sought compensation for his work. It was rejected. In around 1930 at the onset of the Great Depression, he began lobbying the government and trade union officials to mount an expedition to find a gold reef in the desert that he claimed he had discovered years earlier. Lasseter has been described as a bigamist, fantasist, an eccentric, a swindler, a crank and a difficult character with a reputation as a con man.  

The ‘discovery’ of Lasseter’s Reef

Lasseter claimed that in 1897 while travelling alone in the deserts of Central Australia he had come across a rich gold reef whilst travelling from a false ruby strike in South Australia. His horse had died, and he was miraculously rescued by an Afghan camel driver who nursed him back to health. Three years later with a surveyor called Harding, he relocated the reef, took the bearings but failed to peg the claim. Unfortunately, their watches were incorrect, and this made their bearings incorrect. Sadly, Harding died just before Lasseter left for America in 1903.

Testing the Story

Lasseter would have only been 17 when he ‘discovered’ his reef in the deserts of Central Australia. This is highly unlikely, and the false ruby strike was in 1887, not 1897! If Harding was a surveyor, he would not have made the error of the watches having the incorrect time or failing to peg the claim. Harding was in fact not a surveyor but a cattle thief (in Australian slang a ‘cattle duffer’). His ‘death’ was convenient. In the 1930-31 expedition Lasseter was unable to discover his reef and had a major falling out with the leader and some members of the expedition. He left them and died a lonely death in the desert.

Postnote:

It is highly unlikely, given the character of Harold Lasseter himself that the reef exists. Despite this, expeditions continue to be mounted. Never let the truth get in the way of a good story, especially about hidden treasure. In an ironic twist in Alice Springs, there is a casino and hotel called Lasseter’s!

Are there any management lessons with the story of Lasseter’s lost gold reef?

Here are three worth considering:

1. Be aware of charlatans! We all meet them in our personal life and in business. It would appear that Lasseter was indeed a con man or a delusional liar. Despite this, people were willing to believe his story of his fabulous gold reef. Simple but hard questions would have revealed the implausibility of his story. How often are we as managers do we believe what we want to believe?
2. Do your homework. The most basic research would have highlighted that Lasseter’s story was fantasy. Checking the dates of when he ‘discovered’ his reef would have revealed the implausibility of his story
3. Be Aware of Myths that become Reality. A lie repeated enough becomes reality. Once again check the facts and test the logic.

Can you think of any other lessons from the myth of Lasseter’s Reef?

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