GREY:ARGEF - Post by User
Post by
toadollaron Jun 05, 2018 10:33am
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Post# 28125620
8020 response
8020 response Good morning to all. First of all, I would like to appologize for my silent over the last few days. As I am part-time with Argex, it is sometimes difficult to react as promptly as I would hope. In response to the comments made regarding Mr Alnaimi 's compensation, as you will appreciate, Management deemed more prudent to compensate Mazen with warrants instead of a cash salary. In doing so, Mazen accepted that his compensation be fully « at-risk ». I think we can command him for that. I would also like to remind you that by coming on board with Argex, Mr Alnaimi also made a significant investment in Argex amounting to 1,200,000$. Thanks to his engagement with Argex, we have been able to continue to fund the company. While we understand that there might be concerns amongst our shareholders with respect to dilution, I think we can say that this dilution will be more than compensated by bringing Mazen’s expertise, network of influence and leadership. To continue on the dilution subject, I know some of you are also concerned with the alternatives that will be considered to finance our Technology Center. Project financing is different from Operations and R&D financing and different options are being discussed for such financing . Be assured that we will privilege the financing alternatives that are in the best interest of Argex as well as that of our shareholders. Finally, I would like to add a few words on the new candidate we proposed to the Board of Directors, Jean Martineau. Mr Martineau has an in-depth knowledge and understanding of the mining industry. Dynacor, for which he acted as the CEO and President for several years, was listed on the TSX, which will bring complementary expertise to the current Board members’. Interestingly, the process and manufacturing model at Dynacor has similarities with that of Argex. This is also something for which Mr Martineau’s presence will be fruitfull. To get to know him better, I suggest that you listen to an interview he gave a few years ago to a mining media. Hope this answers your questions! https://www.youtube.com/watch?v=YuHaBDrOqBM To view or reply, log in and go to: https://www.8020connect.com/groups/argex-titanium-inc