Many properties have indeed been given up as Inmet recently put their stamp on Red Hill (for those doing their homework), it's a sad state of affairs when one tallies up bucks in Sedar to see how much money has been blown on properties with zippo to show for it (ie. La Isla/Berta, Gryphon, Danny Boy, San Miguel, Fox). Ya darn straight, us shareholders have every right to be a little pizzed off at management for biting off more than they could chew - who else are we to hold accountable? Instead, we've had to wait it out while management over extended themselves into these other exploration adventures which led them down the path of being an asset rich but cash poor junior. Property after property has been let go to where we are today. We got nailed to the wall with this crash. While other cash rich juniors launched exploration programs Bell has been in the poor house because "cash was king" in which Bell had diddly squat of and still do...
Sure, Bell has promising core assets and thank goodness that Kabba & Sombrero are still in the stable as those are the ones i look to with the most potential but we have waited how long for Bell to get busy drilling at Kabba in showing us the much talked about holy grail? That's a loaded question and another ball of wax seeing how Marsh/Zonge etc; went the wrong way with K6. Why wasn't a downhole IP done in K4 if they were indecisive at that time?
Call it hindsight or whatever, where is the value passed on to shareholders when $5 million has been spent on Granduc/SL to only let it sit on the back burner? The last news we heard about Granduc was in January of 2007, that's pushing nearly 3 years now, yes, you heard correctly folks, 3 long years and absolutely SFA has been done at the Duke. Now we have another potential 10 million share dilution (plus another 5 million with the full warrant) announced at the bottom of this slide. A forced flow through for snowplowing up in Stewart country is all i see as time was running out on the $1 million commitment back from February 2008 (dig into Sedar for further details). How is that chalked up to limiting dilution? Why wasn't a PP announced with the ramp up into the 30's?
Unfortunately, the market thinks a market cap of $20 million is justifiable mesa. I can show you numerous charts of junior copper producers that are doing just fine. Where are the buyers if this is such a dang good deal? It sure hasn't been easy having an optomistic frame of mind seeing how Bell has lost all momentum since the breakout at the beginning of July. Heck, that's just a short term view, pull up a 5 year weekly chart and the agonizing chinese water torture is much better reflected. Reminds me of the VRB days. The shares for debt weightness is getting to be rather long in the tooth and if i was to hazard a guess these CD holders who have converted to 5 cent paper are also part of the problem, perhaps it's time for the Nexvu boyz to take care of the Bell market (as in clean up this mess) instead of tending to their other adventures....
I sure hope your heated battles with management haven't stopped mesa as they really need to take care of shareholder value soon with the Granduc and/or La Balsa with an asset sale (or JV) per their 'Strategic Plan'. The outstanding debt needs to be dealt with along with capturing much needed cash to get drilling Kabba in a serious way (the same applies to Sombrero). A two trick pony suits me just fine. It gets real tiring seeing interest payments (more dilution) dished out to Macquarie each and every month. Transparency is key, this K7 to K7A crappola news release hasn't fooled us boyz that have followed this company like a hawk. Updated maps/diagrams are vital, i'm sure some of us would also like to see IP centers and so forth. I could go on and trust me i've tried with the limited contacts at headquarters and don't appreciate being called a "high maintenance" investor who has legit questions/concerns. Why aren't we given the privilege to talk with Marsh (ie. investors of Evolving Gold have access to geologist Hennigh at any time) and our CEO Zinn who is nowhere to be found?
Yes, it's been a bloody long road.