RE: War and PeaceKevin,
This Board is functioning just fine.
Thouroughly enjoyed vwig's 14 point plan. I was actually surprised that vwig raised questions about Selodong.
I do agree with him and I have stated my reservations in the past about this particular property.
I am sticking around because of the other properties held by SA. I haven't sold a share. Nor am I adding(since last december) because of the risks.
If people make investment decisions solely based on what is said on this board than they have a problem.
Kevin, you failed to address the issue that prompted vwig's astute and informative discourse.
LACK OF COMMUNICATION BY MANAGEMENT.
Here are some of the interpretations that are going thru my mind.
Management doesn't care about the retail shareholder.
JP has a number of companies. SA is just a small part of a bigger picture.
SA can be sacrificed for the benefit of the whole. The CNC deal comes to mind.
Never blindly follow management always exercise caution.
Why didn't Management update the following NR and added the Options paragraph? Surely JP had 5 minutes to sign of on it.
Draft Press Release......
VANCOUVER, BRITISH COLUMBIA, Mar 9, 2009 (Marketwire via COMTEX News Network) --
Furtherto the announcement by Southern Arc Minerals (TSX VENTURE:SA) onFebruary 12, 2009, regarding the implications of Indonesia's newlyenacted Mining Law, the Company is pleased to announce that it hasreceived a formal letter from the Department of Energy & MineralResources (ESDM):
1. confirming that the West Lombok andTaliwang Contract of Work applications will continue to be respectedand new mining business licenses (IUP) will be processed without theproperties going to public tender; and
2. the government is preparing regulations regarding the processing of IUP licenses.
Furthermore,during the first week of March, Southern Arc's management had theopportunity to meet privately with the Indonesian Director General ofMineral, Coal and Geothermal (ESDM coordinating body) Dr. BambangSetiawan, who was also a speaker at the 2009 Prospectors and DevelopersAssociation of Canada conference held in Toronto. Based upon thismeeting and the letter from ESDM, the Company intends to immediatelyapply for IUP licenses for its West Lombok and Taliwang properties. TheCompany is encouraged by these recent developments in connection withits efforts to finalize tenure to its mineral properties in Lombok andSumbawa.
3. Management announces the cancellationof an aggregate 3,450,000 stock options which were exercisable at $1.56per share, until September and October 2012. The stock options wereoriginally granted in September and October 2007.
The Companyfurther announces that it has granted stock options to directors andofficers of the Company, in the amount of 3,500,000 common shares,exercisable at $0.40 per share for a period of five years.
On behalf of the Board of Southern Arc Minerals Inc.
cheers
Harmony305