RE:RE:RE:RE:RE:Floatation Plant at Pine Covenozzpack, a couple of correction (again) about some of the assumptions you're doing.
How was your ROI on that spin out that Kevin unleashed to unfortunate investors 2 years ago ?
Zilch ?
Yep.
The properties spined out to Magna Terra were early stage ones. Lot of money was needed to be put in the ground before getting any value from them. The objective of the spin out at the time was for cleaning up things in order to focus on exploring/developing Goldboro and Baie Verte properties. I think that the objective was reached in that regard. It was never meant to make money but more to save time and money.
Enhance the value of Point Rousse by acquiring MAE and unlock that enhanced value by spinning it out to us shareholders with its own management team.
It's seems so simple for you: just take over MAE. You know that they tried in the past, right? It failed. I tried really hard to convince MAE's shareholders about the win-win of a merge with them and never succeeded. Some here were not too fond about giving up a part of Goldboro to get Hammerdown also.
Its being done all the time.
Nothing very complicated .
We even have MAE listing to go along with it.
I think you're living in a world of licorns. Things seems to be so simple in your world.
Perhaps you may not know it but our institutional investors have been voting against management and leaving .
Maybe the disaster of Argyle convinced them.
Institutional investors are leaving? Do you have proof of that? Easy to say but harder to prove man. I did not see any volume lately that is suporting this.
I dont recall in full but I believe that management raised about $25 million cad in 2022.
Another approximative statement. They did only one financing in 2022 and it was $6 million: more than 4 times lower than your "guess".
How is putting Point Rousse into care and maintenance going to benefit you ?
If they sell it for $25 million will that benefit you any more than the $25 million that they sold parts of our company in 2022 ?
This point is irrelevant because of the wrong guess you made the point earlier. Putting P-R in care and maintenance might be transitory and makes it clear to buyers and/or eventual partners that we want to keep installations and assets in good shape and ready to run it quickly if we need to.
You are so impatient. We have our Environmental Assessment for Goldboro, working on the remaining permits and financing... just wait and relax. We will know what will happen with Point-Rousse soon enough. Your barging scenario is not serious, buying out MAE is not serious either, developing Stog'er Tight is costly... and giving up P-R assets and land package to shareholders does not make sense. You've been trying for two weeks now... when will you understand that nobody wants to join you in that non-sense?
FFS, wake up...
FFS, Grow up...