Okay, please give me some liberties here since this is only gossip blog with a bunch of
CCD shareholders begging for some positive change. Here is some thoughts I have had over the last two days since wheels started turning for The Harder Takeover.
Obviously the past management never provided anything positive. The current Board and manager, Brian Causey is definitely not providing positive change or really nothing at all. If anything he is a glaring example of what fools we were to invest in this company in the first place. Causey is nothing more than a living extension of BB, and we all know what BB never did which was provide shareholder value! He never worked responsibly for shareholders best interest and absolutely never upheld his fiduciary duties. His own, no question. Just read the financials and see what was ever accomplished and the amount of expected payment from shareholders to do nothing. He ran CCD like his own bank.
Now we have this Harder guy from Vancouver Island that runs a successful insurance agency. He has already been in charge of CCD and he never communicated anything to shareholders and certainly continued the long tradition of never providing any transparency. He made sure he got paid by selling off some assets which my guess is exactly what Causey is doing right to this day. Causey learn from Harder how to pay yourself first. So why should we expect anything to change going forward? Why is this time going to be different?
Again, my guess is the total number of shares Harder is showing us he currently has to a large extent came from his late sisters estate, so zero cost base to him except what he bought in the open market years ago. Also, he is probably the beneficiary to the ridiculous amount owing her estate from CCD and by taking charge this is away to get the estate paid out, then himself. We all know Judith was an amazing person but we also know she never worked full time for CCD to ever justify the fees that were charged to the company. Most of Judith's friends did not even know she worked for CCD at any capacity. To me 25 cents on the dollar would be a fair settlement between CCD and Judith's estate. Will Lorne Harder negotiate for shareholders best interest to reduce the liabilities owing for work that cannot be justified? Yes I agree, I think not.
If Judith's liabilities to CCD could be adjusted then that would set a good example for BB's estate. If Harder has no invest interest in seeing Judith's estate adjusted then is that not a conflict of interest? Is he really capable of upholding his fiduciary duties to the shareholders of CCD regardless of how many shares he owns. He needs to answer this or shareholders are probably better off not having him on the Board or in operations of any kind. Maybe as an advisor to an independent Board he could add value.
Harder stated in the last news release 'forthcoming communication' so maybe these questions will be answered. Yes he is a significant shareholder but that does not make him qualified to do all the things a very junior resource company needs to do. What experience does he have with a public listed company to really provide shareholder value which means not just paying off his late sisters estate and himself but by moving the dial forward? Is his new Board members going to be like the past and current Board members and just be 'yes' people to Loren. I think so.
Is Harder going to do CCD full time or is he going to try to multi task with his insurance agency? My guess he he is going to try and off load a % of our assets to very small group from the UK that are bottom feeders. I have no problem with people that want to take advantage of a basket case like CCD but that UK company has provided zero value to the other companies it has invested in here in Canada. Yes, you get a bail out cheque from them but you give up a ton in return. Maybe our current strategic partner has other offers to consider. Will Lauren even consider them this time or is his eyes fixed on that estate pay out? Does a Zebra change its spots?
What relationship does Harder have with our 30% partner? Last time he was CEO he had zero tolerance to anything our strategic partner brought to the table. Is this time going to be different? Is Harder interest to put money in the ground or in his pocket like last time? I like his closing line in the last news, 'As a significant shareholder of CCD, the shareholder (Lorne Harder) interest in turning CCD around is fully aligned with shareholders'. The key here is the 'S' at the end of the word shareholders. That means really doing your fiduciary responsibilities at the best interest of all shareholders as best as you can.
If Mr Harder is going to put out another release; very soon I hope; and is truly sincere about his perceived intentions than come clean and address the above. If not then we are probably doing society the benefit by letting this pig with no lip stick be delisted for failure to do anything at anytime for shareholders except enrich a few. I love the word 'fiduciary' because people toss it around and most have no clue what it really means.
At this stage the only person/company that I have seen to actually be doing anything to move the dial forward for CCD has been our 30% partner. After kicking in a million bucks when we were really unlisted and putting their own boots on the ground on our Argentinian properties we have heard nothing from. Are they on side with you Mr Harder? Why has CCD ignored deals with other potential partners been ignored by BB, Causey and you Mr Harder? Seems like a strange relationship here. Where do we stand with them?
Time for a break. This is rather long but I am only getting warmed up Mr Harder. Show us in writing why we should support you and then I will.
Thank you,
ps nice to see you have some fans based on the last post.