Gold Seasonality is Upon USWhat a pathetic leadership group at IMG/IAG! – The team is comprised of 2 BOD in their 70’s and 2 in their mid-sixties being led by their fearless and incompetent PRESIDENT and CEO (on payroll since 2007). The shareholders are ringing the alarm bells daily with their dissatisfaction with the BOD group. I’ve spent a lifetime working in the mining industry, and in my opinion, this mining executive group represents the worst side of our free enterprise system. I cannot fathom how this self-centered and creed group of mining executives get-up every morning and look at themselves in the mirror and head to work! As many shareholders have said,” Over the years, their legacy of poor decision-making and incompetency in the mining industry has been well documented and is sealed”.
The IMG/IAG share price is lingering in the $3.60 CDN and $3.00 USD range. They have no desire or fortitude to negotiate any deal with the over 1B dollars sitting idle in the bank for years. (Dead Money) With their latest option awards and share allotments they have their cake and can eat it too! Something is drastically wrong with this picture and some executive decision-making is required in order to support the share price. To align themselves with the shareholders interest, they could undertake a share buy-back program especially at this low share price or simply declare a dividend. I realize that the gold price has taken a big hit, but their peers Yamana Gold, B2Gold, Kinross Gold and Alamos Gold are doing much better from a share price point-of-view.
Despite all the shenanigans going on at head-office, I’m all in for the long run. Every morning, I scan the news and look for a buy-out by a company that needs to replenish their depleting ore reserves! I firmly believe that IMG has valuable strategic assets and some of the best mining exploration properties in the gold mining sector. As a long term shareholder, I’m all in and I’m expecting a big upside in the price of gold over the next few months because of the seasonality factor. “Be patient, Sit tight and BE right!!
As an interested shareholder, does anyone know what is going on with the newly appointed CFO Daniella Dimitrov? They bought her on with a lot of fanfare and her appointment was effective March 29, 2021. She’s highly regarded in the mining industry as a change agent. In my opinion, according to her bio, she as an excellent track record and she could easily replace the Current President and CEO! And move the company forward! The company has gone completely silent on her whereabouts; I hope she’s still onboard.