RE:Happy New Year to all Abcourt shareholders! Hello clarksandy.
Here are some questions that you may want to ask Renaud Hinse:
- Why was the Elder Net Smelter Return bought by Decochib, his private company, and not by Abcourt since Renaud Hinse was the CEO of Abcourt Mines in 2001/2002? (there are conflicting years for the NSR purchase in past financial reports, which the auditors have been asked to resolve and have not provided clarification) Why is this not a Conflict of Interest on his part? He had a responsibility as an officer of the company to act in the best interest of his employer, Abcourt Mines. What exactly is the purchase price of the NSR? We have a right to know as shareholders, so that it may be determined whether or not Renaud Hinse acted in a Conflict of Interest. Does Renaud Hinse prove that his strategic and operational decisions have been in Abcourt's best interest and not Decochib's when there has been a potential Conflict of Interest? Is Renaud Hinse aware of any other mining company whose CEO owns a NSR on one of their properties?
- Why have shareholders never been given proof of purchase of the NSR? It is a significant expense for Abcourt and it's validity obviously needs to be established. Will Renaud Hinse make a copy of his alleged agreement with Canuc Resources available to all shareholders to examine? If not, why not? We, as shareholders, are owners of the company. Do we not have a right to demand proof of purchase of the NSR? By the end of this fiscal year total NSR payments over the past eight years to Decochib will be roughly $4 million. There is no end in sight to this and Abcourt is operating in an industry where profits are not guaranteed, however the NSR is always paid out. So no, it is not "just" 2 to 3%. The NSR can make the difference between a company that reinvests its profits and keeps growing versus a company that is stagnant, as has been reflected in the share price over many years.
- Why did it take over three years to inform Abcourt shareholders that their CEO bought the NSR? Is this not a Lack of Disclosure of a matter of Material Interest to shareholders? How about those who purchased shares during that period of time? Why were they not given full disclosure concerning the NSR in a timely manner? Do those shareholders have a cause to claim losses based on non-disclosure of this important information?
I think that those are some good questions to start off with. However, some of us will ask these questions directly to Renaud Hinse and the Board of Directors very soon, so we don't need you to be an intermediary for us.
Best wishes to all Abcourt shareholders in 2022, with the hopeful full and complete resolution of these very important matters concerning the Elder Mine NSR.