Victor2009, Not Interested In Excuses!Victor2009, my puppet:
And you said:
"There was uneasiness by many when Gary Nash departed. He was known bymany as a man of integrity, ability and dedication - open to anyshareholder or interested party that was interested in LBE. Noskeletons in his closet that might make you doubt his honesty andintegrity. It will take some time for the interim CEO or a new CEO togain the respect that Gary had earned - and it is unlikely that anyfuture CEO will exceed Gary Nash's dedication, both in time and money.But whoever the new CEO is, he will not be some loose cannon runningaround dishing out money for non-mining gambles."
Are you kidding me, this is the very guy that drove LBE into the ground. There was not the business case to warrant the expenditures he gambled on, and both he and the LBE shareholders at the time paid the price. He had so little credibility in the financial markets that he could not secure decent credit lines domestically and signed the deal with the devil -- JJ. Sorry, my puppet, but this loser trashed this company and left the LBE minority shareholders, and yourself, to pay the price. Sucks to be you!
And you said:
"And in no way is the situation so bad that the company cannot prosperand reward all shareholders. The update that capped the equityinvolvement of Jilin Jien, and provided financing for the 2011 programgave some assurance that Jilin Jien is committed to making Liberty aplayer in this mining sector, and assurance that Jilin Jien sees thepotential in the company, and intends to develop this potential as apublic Canadian company. The company has access to debt financing,without being beholden to some cutthroat financial institution."
JJ clearly keeps LBE at arms length and it interested in its own gains. Why do you thing that Dr. Gary Nash was terminated? Do you think terms going forward favor LBE minority shareholders. $6,100,000 per year in interest on existing debts, and allowing those terms to be deferred at 10% interest is in the best interest of LBE and LBE minority shareholders -- you are simply in dream land. This is where you and your stooges do not understand business saavy -- you were skinned alive and don't even realize it. Many tried to raise these concerns only to be viciously attacked by you, Victor2009, an obtuse, shallow, simple peon who doesn't understand the basics of the business world.
And you said:
"As a shareholder its a much more comforting position to be in than thecompany you are enthralled with. Your excited about a supposed miningcompany that's spent over five years accomplishing next to nothing onits mining properties. The company assets are gradually being depletedin administration costs, promotion costs with no benefit and generouscompensation packages, and confusion reigns. A few million gone for aNSR on a property that may never be mined, a few million invested inanother penny stock company that your CEO says is poorly managed, a lowrate loan to an unnamed company with security that may be severelyinadequate, a loss of office award agreement with the CEO that is openended and could result in a huge expenditure if the the Randy Mandeparts under a number of potential events. And contingent legalliabilities that are admitted in general, but not describedspecifically. Scary stuff."
Again, my puppet, you are engaged in hypothetical nonsense that amounts to nothing. The truth is, is that LBE has had a meltdown as a result of the mis-management of Dr. Gary Nash. Randy Miller, alone, discovered the UMJ opportunity, in conjunction with various ISM mining opportunities, to the benefit of himself and ISM shareholders. Your leader, Dr. Gary Nash, is long gone with no visibility as to LBE minority shareholders will fare. What is clear to me is that JJ is taking care of itself by increasing the credit terms to 10% and in the form of "secured" loans. Who is the winner -- JJ; who is the loser -- LBE minority shareholders. This is why you can't defend LBE anymore as it is clear to me and many others that JJ has all but consumed LBE. Sucks to be a LBE minority shareholder!
And you said:
"My reason for interest in LBE was the potential of mining nickel. Ifeel much more comfortable with a company that is guided byknowledgeable mining people, controlled by a successful global miningcompany, that won't put up with the confused antics that are prevalentin your penny ante conglomerate.
And whether it was Gary Nash,the interim CEO or the future CEO - I won't be doing what you thoughtwas necessary with Randy Miller - remember that embarrassing survey andyour plot to straighten the Randy Man out at last year's AGM?"
Perhaps there was some mining intelligence in LBE, but what is clear is that Dr. Gary Nash was "business retarded"! Who would run that company into the ground in the manner he did and be so blind to the business conditions around him. ISM, under Randy Millers helm, was guided through the downturn like it wasn't there. There is a constant focus on preserving capital and avoiding debt -- for the very reasons that resulted in the demise of Dr. Gary Nash, and at the extreme expense of pre-JJ LBE shareholders. When you stand back and look at it Dr. Gary Nash could not have done a worse job at mitigating risk and looking out for the best interest of LBE and the shareholders prior to JJ. His obvious lack of business knowledge led to his demise and the steep losses of pre-JJ LBE shareholders. Clearly, he was not qualified to lead this company as he is the reason for its demise.
Randy Miller is quite business savvy and proves it over and over again. All Canadian junior mining companies took steep corrections after the steep rise in the "resource bubble" that was evident before the downturn. However, I would want a street-fighter like Randy Miller in my court than an obtuse businessman like Dr. Gary Nash that proved to be the demise of LBE and its minority shareholders. Sad that you cannot see reality but the balances in your stock portfolio should be a stark reminded of your failed LBE experience. Certainly sucks to be a LBE minority shareholder; not much hope of a comeback there. Victor2009, my puppet, hope your happy with your LBE investment. You earned it!
PVB