GREY:SWYDF - Post by User
Comment by
mjl777on Dec 11, 2013 10:42am
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Post# 21994130
RE:John Kaiser Stornoway Beef
RE:John Kaiser Stornoway BeefKaiser's critique is highly prophetic, even though some of the details didn't work out precisely in the manner he predicted and the subscribers who followed him missed an opportunity to make some money (in the short term). Consider the following excerpts versus Stornoway today:
Kaiser: Ashton was handicapped by a major shareholder.
Fast Forward to Today: Stornoway is handicapped by IQ (Stornoway's corporate objectives are too aligned with the Quebec government's objectives - no longer a value creation exercise for all shareholders).
Kaiser: Merger robbed Ashton shareholders of any upside that speculation on Foxtrot may have delivered.
Fast Forward to Today: Merger and the bungled advancement of Foxtrot robbed legacy and new shareholders in both companies of any upside that speculation may have delivered on the merged company's entire portfolio of high quality properties!
Kaiser: Merger doomed Stornoway to fate of roadkills, which certain vultures will carve up in due course.
Fast Forward to Today: This process is well underway with the conveyance of assets to North Arrow, but I highly doubt we've seen the end of it.
Kaiser: Development of Foxtrot more an act of Quebec patriotism than robust economics.
Fast Forward to Today: This continues to be the case today. Despite proceeding with a high risk strategy for Renard that was not aligned with market conditions; despite receiving clear signals that the strategy was doomed to failure; despite having the luxury of numerous opportunities to change course; Stornoway maintained it's high risk course.
Kaiser: Plenty of lip service, but very little delivery.
Fast Forward to Today: That continues to be an ex. valid and fair assessment.
If Stornoway's leaders were really visionary, the company wouldn't have missed the opportunity to use some of its exploration assets to generate currency to build Renard. The company wouldn't be in the position it is in today. Essentially, vulnerable and at the mercy of the markets. And yes, the vultures are circling as I write.