RE: RE: New Management There might be issues if G&B was a public company.
Let's not complicate things here. First, G&B is two guys - George and Bruce. They owned the claims in Ethiopia and the Deslauriers set up the deal to take those assets public.
George and Bruce got ticked off by the Deslauriers. With the dismissal of Wahl, the resignation of Sanjay Joshi and the agreement to further restructure the board, those issues have now been dealt with. I am sure George and the Deslauriers aren't singing Kumbuyah at some pub in Toronto right now, but they have put their differences aside for the good of the company and the company is now back on the right track.
The restructuring of the G&B deal appears to be about term. Ten years to meet the requirements of the contract does seem long, especially given the events that transpired over the last year. I have no concern about the G&B option.
George is FED's biggest shareholder, the chairman and now temporarily CEO. Does that sound like someone who is going to do something that would be seen to be a detriment to FED?
There's been lots of positives over the past couple of weeks. The questions that remain are the price of the financing and with who, who will be the new CEO and how the board will be restructured.