RE:RE:RE:IRI - Proven Copper/Silver Asset In Nevada
Dragoon wrote: Thanks for the overview update. The part in the md&a outlook is new. This wasn't there last year. So management is looking at new probability in restarting the mine.
The only thing that's changed is the regulators threatening and forcing the company to show some activity or they will delist them. Trust me, they will do the minimum just to comply and then sit on their a*ss. IRI management has no intention of lifting a finger unless they're poked and their listing is threatened. The longer they wait, the more shares they allot themselves and dilute the shareholders.
The owner is a POS. I have never seen a listing in my long investing experience where the management has done absolutely nothing since acquiring the property. IMO, they acquired the property in some sort of questionable (not explained or understood) deal. Personally I have no idea why this was ever publicly listed. In many ways it reeks of an IPO money grab. The CEO should be investigated by the authorities and I urge every investor to file a formal complaint with the regulators and forget about complaining or putting pressure on the management. I have tried the management route over and over and it continuously fell on death ears with all kind of inferred promises.
I can't remember exactly, but when the IPO came out the combined management had a slightly larger # of shares than the general IPO shareholders. Then after that, the only activity was the continued yearly allotment of shares to the management, to the ratios of today.
Unfortunately the big stick of the regulators is the only thing this CEO fears.