RE:RE:Insider transactions July6Java,
What effusive praise that you have given Normand Hinse for simply buying shares on the open market. That was quite a strange post. You have puffed him up to the point that it looks utterly ridiculous. Besides bizarrely thanking him for buying shares as an "inside purchaser", you have also positioned him as "a main director driving the financial success of Abcourt". I don't even know what a "main director" is as opposed to simply a director. Somehow you have entrenched Normand Hinse into the directorship of Abcourt Mines for perpetuity. Based on what? The hearsay of what a marvellous job he did in actually getting a bank to lend money to cover Abcourt's rolling stock? The man owns and runs a crane monitoring company called Systemes RaycoWylie. We know that there are some overseas offices. We do not know the size or profitability of his company. It looks successful. I don't know why there is such a familiar face (does anyone recognize the elderly gentleman) in the back row of the employee photo?
Stay at home, we take your orders from home! - RaycoWylie Perhaps things were a little slow for a while at the mine during these Covid-19 times.
Must you be such a cheerleader that Normand Hinse has "the business acumen and the financial contacts to get the job done right"? There is no way to assess his business skills because he owns a privately held company and we are not privy to any financial information. As for his financial contacts, what in the world are you on about? Mining finance is a very specialized field. It takes many years to build contacts through business deals with investors, institutions, and lenders in the world of mining finance. Normand Hinse built a crane and heavy equipment monitoring company and he runs it to this day. Congratulations to him for that. But he did not spend those years in mining finance building up the kind of contacts you are alluding to. You so strangely portray him as being on the cusp of putting together some blockbuster deal with a bank "to start up a new mine". Sure it could happen, but then who is going to be the CEO of a company that has not two, but three operating mines? Normand Hinse has neither a mining education nor has he worked for a mining company in any day-to-day capacity that we know of.
Why have you side-stepped the very important issue that at least 4 of the 7 board members are either Hinse family members or Hinse family friends? Instead you puff up Normand Hinse. Why?
The place of Normand Hinse, Jean-Guy Courtois, and Francois Mestrallet on the BOD sends a VERY CLEAR message to the investment community that the Hinse family wants to continue to CONTROL Abcourt Mines, a public company. That strategy shows a lack of respect for all other shareholders. It is also not a good business practice. I have one question for you and one only... Do you think that:
A. experienced and proven mining professionals should be directors of a publicly traded mining company or,
B. that family and friends of the CEO that have no mining experience should be directors of a publicly traded mining company?
What is your answer to that question?