RE:RE:RE:RE:Questions for boardHi, liveit
fyi, I had forwarded the same questions to investor relations. To paraphrase, here is some info. I received (with my own comments following in parentheses):
* they don't have a timetable for conference calls, but will hold them on an 'as needed' basis
(Respectfully, I personally think they should hold them on a regular schedule -- for a couple of reasons: (1) it could help to build retail support. Anything that gets the stock price higher leaves you with a stronger "currency" to use for a subsequent private placement. That is why I also believe -- given the numbers in the PEA -- that they should also be attending conferences, getting interviewed on some of the better known podcasts, etc.
There is an old saying: "You can't sell a secret." If you have a story worth telling -- and they seem to -- then tell it.
(2) if your progress is going to be monitored on a quarterly basis, you are much more likely to deliver -- who wants to go to the shareholders at the end of a quarter and say 'No progress was made'
I don't like a situation where you have basically an information vacuum and the months just seem to roll off the calendar. We should all be able to understand both the short and longer-term goals and risks and measure their progress each quarter).
* Although there are gaps in the current mining law, it would not prevent them from going to production at the end of the exploration phase. (ok)
* The net proceeds from this placement will be used to finance the company's exploration activities on its Piskanja, Serbia, property and for working capital purposes.
(It would be nice to know, exactly what kind of exploration activities can be completed with these dollars. For most mining companies I am familiar with, these kind of dollars don't move the needle. But maybe that is not the case here? If the others who are more wired into the situation want to provide us with a warm and fuzzy feeling -- please do. Otherwise, one is left with the fear that it is more related to working capital).
* The feasibility work will take a minimum of one year, depending upon how things go on the ground and the fund raising activities.
(Like I said with my first post -- I have taken on an initial position and given the economics in the PEA, I'd like that position to get a lot larger.
However, when you see numbers like those and then compare against the share price and the issues around the fund raising -- you start to wonder if you are missing something, right? I'm holding plenty of other miners whose shares are trading at a fraction of NPV -- so I get it. But wondering if it is just sector related or something company specific that I should be aware of.
I've been back tracking through a lot of posts, but they just seem to go round and round. Unlike most other junior exploration/development stories, I don't see a clear set of short or mid-term catalysts that are designed to drive us to 'X'.
If some of the long-timers could weigh it on that, it would be helpful. I'm not the enemy by the way -- you need me and lot more like me, to get the stock moving in your desired direction.
Convince me why I should add to the position and tell all my associates to do likewise).