RE:role of management and shareholdersMiles- you have been a consistent supporter of management even when they were making dumb decisions.
Make no mistake about it that the CEO, CFO, other directors (including the Glencore appointees), the bankers, etc., are there to make money- first for themselves, then the company and if any pennies left over - oh well throw into another venture that will increase their payout.
So what about TV- I have been in this since they were paying a dividend...remember when that was? So have watched a succession of management drive this into the ground and including the acquisition of the African assets from Glencore. All the while management is doing very well..thank you. If you care to look up materials in Sedar you will see what the CEO, CFO and others earn. Very nice salary, very nice options for a company that was on its knees and at the edge of bankruptcy. Now there is some hope that this will get turned around but guess whats at the end of the corner...a share consolidation (in all likelihood) and further dilution of shareholder value to follow.
I hope that I am wrong but me and my 100,000+ shares will be out once this gets to my break even point of about 40 cents unless i ascertain that they have not turned the corner and that this will be a perpetual loser in which case I will cut my losses, tuck my tail between my legs and get out of this never to play in penny mining shares again.
obviously people have their own opinions and do their own due diligence and that is what makes this gamble just that...a gamble. One should never confuse gambling with investing and I admit to falling into that trap a few times over my multi decades of investing. Shame on me for sticking with this company for so long when the writing was on the wall re profitability, etc.
But hey, live and learn and hoping the lesson will not be too costly.