RE: RE: RE: RE: RE: Nikiforuk is an ABSOLUTE JOKE! Hi Folks
Won't be posting much as am overseas with my wife's family for Christmas thru top mid-Jan. T2's little rant (hope you felt better after that although it would be more contructive directing that to AGG management as opposed to this forum IMO) obviously shows the degree of frustration that exists and I agree that having a website that hasn't been updated since the PEA was released in July is brutal but I'd also like to re-iterate a little dose of reality here and re-state what should be obvious to all.
I personally believe that it would not matter much what management had done in the last 8 - 9 months with news releases, updating websites etc. The markets have brutalized most junior gold miners. There are very, very few performing. ATC is down from $10+ to $2.50. VTR and KGN are down 60 - 70% and the list goes on. Open your eyes to the reality of what were dealing with here. I've seen CSI and CNL release great results and the stock does nothing or falls. I stress I'm not making excuses for management here but the reality is these are brutal markets.
A couple of other points:
- Ghana is the most stable and prosperous country in West Africa right now and I don't see much country risk there excepting the possibilty of windfall taxes and increasing royalties. With that said stability in Africa is not the same as stability in Canada
- There is absolutely no problem with AGG and their relationship with the Malian gov't and the gov't in Mali is quite stable as well. There are operating mines in Mali and the gov't knows it takes time to put them in production and is completely onside with AGG and their efforts.
- The focus is on Kobada and the feasibilty study and has been for the past 2 years. AGG has a deposit there that is more valuable than most understand and it is being fast tracked.
- My sources tell me that AGG should be able to get through to feasibility without having to go back to the markets. They also still have about $7 MM in the kitty currently. They have other assets that can be leveraged and monetized.
2011 has been a brutal year for me personally so I can and do have empathy with others, share their level of frustration and investor fatigue. I also know from talking with AGG management that they share it as well as they own 15% of outstanding shares. Let's hope we can get back on track for 2012 but the reality is the global markets will have to cooperate.
GLTA and have a happy, healthy and prosperous new year!!