Post by
wm23four on Jul 08, 2020 12:32pm
PRB vs Angus
When Angus situation came to light I had concerns about conflict of interest and which co dave placed his primary loyalty. (Plus dave high compensation, rewarding per stock plan for miserable share performance, etc.) Concerns still remain but dont intend to sell any more shares so will hold strong. May be right or may be wrong, but here are some observations, my 2 cents etc.
To me its pretty obvious that dave and his team intend to transition to angus eventually. They can hit ground running when PRB is bought out. (The way things are unfolding, possibly even before bo) My guess would be prb gets no start up funds and current prb shareholders not getting any shares in his next project similar to bordon deal. My guess is there will be no PRB 3.0 after next bo. This will be last PRB. Angus is dave next project imo.
We all know that dave is merely investor in angus (for now) and even though he is world class geologist he had little to no input in the lands angus obtained. (wink wink). If he says angus is dormant at agm, then certainly this is the case. (again, wink, wink) Never mind that Patick L is quoted as saying that they look forward to exploration of angus lands in 2020. Never mind angus did flow through finance. The funds of which "must" be spent on exploration. Never mind that angus need to spend $1.5M in exploration to obtain 100% option in Mishi property from IAM gold. If dave says angus is dormant it absollutely must be true. So lets take dave at his word and presume it is indeed dormant. If so I just hope it remians dormant until prb bo. If it doesnt then daves words at agm sure wouldnt be very credible. Who knows, maybe creation of angus is hint that bo is nearer than many think. In order for dave words to be credible, angus will need to remian dormant until prb bo imo. BO would free dave to explore angus and have his "dormant" comments remain honorable.
Thinking that if prb share price conitnue to rise that the concerns of many will diminish. We will see which co sp doubles first from here. Angus or prb. IMO if angus overtakes PRB then daves dormant co will be in negative spotlight again with prb investors I dont begrudge anyone the opportunity to make some profits on a side project. But I just dont want it to conflict with my investment in PRB. I want dave to focus on prb. He is getting a very handsome compensation packate. when prb is sold and his fiduciary responsiblity to prb investors is over, then by all means give full attnetnion to your angus project.
Hoping PRB run continues and bo happens sooner rather than later. Maybe right, maybe be wrong, but jsomeimtes get feeling from the optics of this whole situation that dave would rather be working on angus than prb. Will conitnue to watch things unfold for both companies. Sure nice to see uptick in prb share price last couple days and hope it conitnues Lots better than last spring.
wm