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Bullboard - Stock Discussion Forum Magellan Minerals Ltd MAGNF

"Magellan Minerals Ltd is an exploration stage company. The Company along with its subsidiaries is engaged in the exploration and development of mineral properties, with a focus on gold properties in Brazil."

OTCPK:MAGNF - Post Discussion

Magellan Minerals Ltd > KEEP YOUR SHARE CERTIFICATES
View:
Post by TrueGold on Jun 08, 2012 12:12pm

KEEP YOUR SHARE CERTIFICATES

WHEN WILL MAGELLAN BE DRILLING AGAIN?

Well you first have to find out what business they are in. As they have not drilled for 8 months now the answer may be never. They may be in the 3 monkeys business - SEE NOTHING, HEAR NOTHING, DO NOTHING.

WHAT ARE THEY DOING RIGHT NOW?

Who knows. They are not saying. They raised more money but hey, don't put it into drilling to try and increase your ounces. kEEP IT TO PAY WAGES!!!

IS IT TRUE WHAT MANAGEMENT AND CARTER ARE BEING PAID?

Well it must be true because they put it in the information they sent for the annual meeting. Hard to believe they get paid that much and also get to give themselves another round of stock options to boot. Used to be that it is supposed to be an incentive. Now it is a reward for doing nothing. Wish I could start a public company and get paid and options for having my stock drop from $1.90 to .19 cents. Also tell my shareholders that we are an exploration company but not do any drilling.

WHY DO THESE GUYS KEEP GETTING RE-ELECTED AS DIRECTORS?

Your guess is as good as mine. Maybe no one shows up at the annual meeting. I would show up but I may be the only one there and I would be out voted by management that re-elects themselves anyway.

WHAT CAN I DO WITH MY SHARE CERTIFICATES IF MAGELLAN GOES TO ZERO?

Well you could use them as wall-paper. Maybe put out a notice to all of the other Magellan shareholders and get their certificates and you could start a re-cycling company.

Comment by StackinCheese on Jun 09, 2012 1:00pm
Well this management team has to pay themselves something, they are making *#&%-all off of the stock.  What a waste of time this turned out to be.  All these promises, nothing delivered.  Maybe they should all run for office?
Comment by StackinCheese on Jun 09, 2012 1:00pm
Well this management team has to pay themselves something, they are making *#&%-all off of the stock.  What a waste of time this turned out to be.  All these promises, nothing delivered.  Maybe they should all run for office?
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