Hundreds of thousandsWell, I have hundreds of thousands of shares in this company so I am both very long - and not some nefarious shorter - and have every right to vent at the inertia of this management: at their inertia in promoting the company, at their inertia in commissioning the 4m ounce mine, and their inertia in securing a low cost loan in a currency about to collapse.
I think part of the problem is exactly what some thought would be a bonus: the management. These other juniors, they have raw, scrabbling management determined to squeeze every last opportunity to pump the share price, to connect with the shareholder base. My impression of the SLX management is that they are standoffish, big-company mindset, complacent and less raw and hungry.
In the time since the SLX merger, Williams over at AGQ has had several public meetings with shareholders, in London and in Canada, to talk about current operations and to promote the prospects of the stock.
How many public meetings with shareholders have the management of SLX organised since the merger? It's now, what, five months?
Fair value? FAIR VALUE? Do me a favour, love, next time you think of a pearl like that, flush first.
If the price gets cuts in half at the end of QE2, what are you going to tell us then? "Keenly priced"?
We're not the stupid ones; the stupid thing to do is to insult the intelligence and the expectations of your shareholders.
I am the lone strident voice on this board, but a number of people have messaged me privately to endorse what I am saying. If the SLX board keeps going the way they have started, they are going to do a nice job of building up a very disaffected shareholder base.