Golden Valley Mines Ltd GLVMF

RE:Gzz

[rick1966]

Abitibi has a fiduciary responsibility to all of its shareholders not just Golden Valley. 

The management of GZZ never needed to spin the assets off into another company in the first place.  Many financial engineering transactions are not worth it in the end.  This particular one maybe is paying off as Abitibi now has an excellent CEO focused on creating shareholder value who invests alongside his shareholders.  Glenn converted his Abitibi stock options last year and quickly sold his shares to Rob McEwen taking his money off the table ASAP.

If you really think that GZZ stock is a great value here you have the option of buying regardless of what anyone else does.  I'm very comfortable holding GZZ even though I have much more respect for Glenn as a geologist than as a  CEO. 

I do not like the deal with Nunavik Nickle.  Golden Valley is properly capitalized to hold onto these properties until finding partners as the annual fees on the properties are not large.   Our upside in these properties will be greatly reduced by transferring them to a related company that does not have the capital to do much with them.  They are going to have to dilute their shareholders like crazy to explore at all.  If you think they can find JV partners then I have to ask: Why on earth would they be better at finding JV partners than Golden Valley would be?  I am voting against the proposed deal.  Golden Valley has spent a lot of shareholder time and resources claiming those prosepcts.  I am not inclined to let them go on the cheap at a time when we should be patient.