RE: on thin ice and its raining Truenorthminer you provide a valid argument,
There is serious concern that the direction that the company has taken over the past few years with the same technical team at Carscallen has not resulted in returns that would warrant their continued retainement. The technical consultation firm that Melkior has been resolute in dealing with over the past few years, GeoVector from Ottawa, appears to be in an unusually stable position even though results at Carscallen have been questionable in regards to the level on time and money spent. GeoVector appears to be intimately connected with Melkior management within several deals in the R.O.F. and after all is said and done, could be reasonably construed as representing something which would warrant a closer look. After millions of dollars and close to 200 drill holes being deployed at Carscallen since 2005 have apparently returned lessening results over time, a major revamp of the objectives attached to the project and management directives over time is without question warranted.
Exploration is not an easy business but the way this game is playing out must have turned some heads with the major investors who have significant stakes in this company. Somebody must have a better solution to move this venture towards a more effective and efficient mandate as the present situation could reasonably be described by any reasonable investor as one representing the utilization of exploration towards exploration which have been proven to be increasingly ineffective over time. Being that the markets have apparently recognized this within Melkior by virtue of it allocating a progressively lower share price trend as a measure of its confidence level in the company makes the situation that much more questionable in management maintaining the same exploration direction and deployment strategy for this long a time period.
There are many, many conclusive examples which could be used here to support the above arguments but hey, didn't the $100,000 performance bonus paid to Jens a few years back support the declining performance curve? Carscallen is a very lucrative property but there are some serious issues with common sense and logic on the exploration front.