RE:RE:It is all John's fault!!!Chilled...
The point of my posting was to show how easy it is to blame it on the management, "John" in this case...
It is hard for individual investors and institutions alike to accept the fact they miscalcullated the timing on their investment in VIT or the fact that their investment did not produce expected returns in the timeframe they had in mind.
Very few take the onus on themselves, the "easy button" is to blame it on John...
Are there any unhappy shareholders about the financing? Absolutely! I know Electrum did not blast "John" because of the bad financing deal. They have a board member and they supported the decision, even though they bought VIT stock @65c/share.
Building this large mine in Yukon has larger ramifications than the 34c/share stock price everybody is complaining about. I have been living in mining communities and working in mining industry for many years, and I know the good, the bad and the ugly of the mining industry. Mining brought a lot of prosperity and a lot of opportunities in many parts of the world and many remote places of Canada.Mining industry also created a lot of harm to the environment and a lot of tension and conflict in many cases. There is a much bigger picture to see in VIT investment in Yukon.
I am not an insider of VIT and VIT owns me nothing! I do not like to discuss the amount of shares I bought, sold and held over the years. I don't brag nor complain about my investment in VIT. I am very confortable with my investment decisions in VIT. I take full responsibility for my decisions and I would never try to blame it on "John", as "John" is busy, building a mine, along with his team.
Chilled, I have great respect for mining professionals and mining industry is a tough place to be nowdays! I think VIT management has done a hell of a good job in their relations with First Nations of Yukon, with their permitting process and I strongly believe they will do a good job in building and operating the mine. They have all the ingredients required for a solid, sustainable operation that will generate a lot of wealth in Yukon, will generate a lot of development and training opportunities for local workforce and also generate a good rate of return for the investors.
It is up to us to buy, sell or hold.
GLTA