ConcernsMgmt. still yapping about the failed DML boon-doggle. Put that mess to bed already….it was a disastrous flop which hurt the shareholders immensely. Quit trying to justify a poor decision that we, the shareholders, paid for out of our pockets. Every time FCU mgmt. comments on that….it brings failure to mind! Fission fizzle!
“Fission has increased the size of the board from 7 to 9 directors, and has appointed two individuals designated by CGN to Fission's board of directors”. Why? That’s at least 4 more mega salaries that are not required at least not as directors (employee maybe?)! That represents at least 5 or more drill holes into the exploration ground, not holes in shareholders pockets! Trim the fat!
Are CGN directors paid by Fission or by CGN? 14 months of hard negotiating…during the merger attempt? How does that work?
Are they listening to shareholders at all? This is a good time to tune in and not relax our vigilance on mgmt. There seems to be a subtle undertone for a new merger attempt?!
“As Ross mentioned in his blog post last week, our cash requirements are taken care of for a minimum of the next three years.” (Over 92 million in the bank). 92/3 = 30+ million a year? They have been using about 10M/year or less to date. The 92M should translate into much more than 3 years….perhaps 9 or so….depending? Why only 3 years?
"Fission intends to use the proceeds of the Offering to develop the PLS Property, pay advisor fees and costs in relation to certain approved transactions and for general administrative expenses consistent with past practice." (Fission Closes Strategic Investment by CGN Mining-news) NOT HAPPY WITH THAT STATEMENT!
Do we remember past practices and approved transactions?
Does that mean were in for another dose of what we went through?
We the real shareholders of FCU have to keep fair pressure on mgmt. with reminders that they work for us and that we will not tolerate wasteful practices, especially in this financial turbulence. They are un-acceptable and if we accept them, we will only have ourselves to blame for future failures.
I hold a lot of shares and am not ready to see a free fall drain of the funds!
The funds, if used correctly, for what they are intended, will make FCU a mega success. The positive statement Ross makes:
“I can tell you that there are a lot of top tier exploration targets on this very large property.” Quit the waste………make the haste……… for exploration!
Mgmt. pat on the back after $3/share…..not now!