RE: AMEX requires $2 or $3 per share Thanks Silverstocks for pointing out the minimum requirements for listing on the Amex Board! That was informative.
As far as Silverinmypants's posts are concerned, I have to admit I saw them as positive posts, and not as negatives. Besides the fact that they were forcefully crafted and peppered with humorous remarks, they did sum up the frustrations of many posters on this Board.
In so doing, I think he touched on some issues that I have seen as warning signals for some time now, viz
1. Our corporate management seems to shun publicity. They do give the impression of a covert "illuminati", hidden from view, contacting their shareholders and the public only when regulating bodies demand it. I have a photo of Joe Ovenek and Ken McNaughton, but the other members of the team remain faceless to me.
I can't help feeling I could do a better job of promoting Silvermex than the Board does itself.
2. The public image of Hecla, the birthplace of most of our top execs, is not that great. Their Bulletin Board is a morgue! Comments from other posters indicate that there is very little that's dynamic about their personalities or image. (Those practically identical stock price chart patterns for HL and SLX still worry me, mainly because I can't see how they could have occurred.)
3. The references to Silver Standard are of great significance to me, too. Ken McNaughton and Joseph Ovsenek are from Silver Standard. From my reading it seems that SSO did spend a lot of time accumulating resources before finally starting to mine anything. The market, apparently, saw great the resources but gradually realized that SSO was more of a collector than anything else.
Then, recently, SSO started to spin off its North American properties to its former CEO Mr Quartermain, and indicated that it wanted to concentrate on its mine in Argentina.
VANCOUVER, BRITISH COLUMBIA, Oct 29, 2010 (MARKETWIRE via COMTEX News Network) -- Silver Standard Resources Inc. (NASDAQ: SSRI)(TSX: SSO) ("Silver Standard or the "Company") today announced that it has entered into an agreement (the "Sale Agreement") to sell its Snowfield and Brucejack Projects in northern British Columbia to Pretium Resources Inc. ("Pretium"), a company formed to acquire and explore precious metals projects, led by Robert A. Quartermain.
Robert Quartermain was the former CEO of Silver Standard Resources!
Silver Standard Resources Incorporated (TSX:SSO) (NASDAQ:SSRI) has announced that Robert A. Quartermain has resigned as President and CEO of the Company effective January 19, 2010 as per the following company statement:
Mr. Robert Quartermain stated, “The Board of Directors and I have agreed that it would be an appropriate time for me to step down as an executive of the Company. I have had an exceptional and enjoyable career at Silver Standard that has spanned 25 years as we have created a major silver company from a small exploration company.”
If, as I believe, Silver Standard is a large shareholder of Silvermex and has representatives on our Board, then how it operates is of importance to understanding how we operate.
4. In summary, there are some similarities in the way Hecla operates and is perceived and the way Silver Resources operates and is perceived. And now we see a similar image building for Silvermex, which is what I think Silverinmypants was getting at.
Silverstocks, you suggest that ranting here will do no good. Perhaps you’re right, I don’t know. But it reinforced my action on Friday last, before Silverinmypants posts, when I sent an email to Duane Nelson. I have always respected Duane. And he isn’t a former Hecla man! In it, I covered some of the points that are bothering Silverinmypants, although I’ll be first to admit my email didn’t carry the punch that his posts did.
Maybe like a lot of my posts he got some of the facts wrong. But that's incidental! It was a forceful statement that should command attention.
I've probably used this old cliche before, but it bears repeating today:
"It is not enough that justice be done. It must be seen to be done!"
It is not enough that Silvermex have great resources and be proceeding on the right track. They must also be seen ...
And one final cliche:
"Time is of the essence!", especially for the seniors in the audience.