GREY:CCNMF - Post by User
Post by
AARMYon Nov 28, 2009 12:14pm
648 Views
Post# 16532913
Management
ManagementNobody can discredit Mike's history as a geologist. Having said that, on the flip side, nobody can defend his passive leadership this past year.
You mention management has done such a great job because they have $11 Million in the bank and lawsuit in the works with some great properties?? What does this have to do with management??
How would you rate managements performance these past 2 years on a scale of 1-10? 2 or 3 maximum. The only thing they could of done worse is spent more money drilling. Was this even possible? They already blew over $10 Million drilling air, could a small company like these spent more?
What has been done to add ANY shareholder value?
We have all invested in this company for fundamentals. A story that's been in place for 4 years.
This company should currently have $20 Million in the bank and be paying a 5 cent quarterly dividend. If this was the case this would be trading above $3 today. Then Mike could justify the less then 5% chance of drilling up an ore body. I could be sold on waiting and "pie in the sky" optimism if I was being paid to wait and my paper was worth $3. I know he's interested in an acquisition, however he's foolish to do it with a$1 stock. Why not wait and do it at $3. I am sure these shareholder friendly potential moves are only being put on hold until the options are re-priced. Why else wait for such an obvious move.
It's time this company be run for the shareholders who own 90% of the company and not the Board of Directors who control less then 10%.
If anybody can justify a 60% reduction in options please enlighten me. I know things are about to change for this company, Im just a little frustrated that we're 8 months behind. Enough venting, I am not happy with these past few months, however things are progressing and Im guessing this lawsuit is starting to get interesting.