In Garth's worldIn Garths world the new managment started with a clean slate all the claims were up to date, all the bills were paid and all Adriaan had to do is raise cash for new commitments.
Unfortunately for us shareholders the reality is the the old guard did not leave the company in such a state.
The reality is there were many unpaid bills. the drilling committed to was underfunded , the CFO had not been paid, the office space had not been paid, and records were attempted to be destroyed or displaced. Claimswere about to lapse....
You have a very selective short term memory there Garth...
Have you booked that apointment with the shrink yet !
In My opinion Adriaan et all are making the right moves toward advancing VRB with the best interests of shareholders as their guide.
From the nr:
In addition to giving shareholders their right to vote, during the past three months, the company has:
- Completed an $800,000 financing. The financing was further support for the new management team with almost all the financing coming from existing shareholders with no commissions paid;
- Closed its downtown office and cut operating expenses significantly;
- Legal, banking, accounting firms have all been replaced or are now managed internally;
- Significantly reduced the number of incentive stock options the company can issue;
- Implemented an efficient claim management process and renewed over 150 claims;
- Renamed and rebranded the company to better align the name with the company's corporate strategy of targeting production of high-purity vanadium products. The objective is to coincide with the existing demand increases in the steel and alloy markets, and the global commercialization of large-scale pure vanadium batteries;
- Initiated a long awaited National Instrument 43-101 technical report on the company's flagship Lac Dore project, which will include an update of the resource estimate as well as recommendation in order to reactivate the former feasibility study conducted on the project by SNC-Lavalin in 2002;
- Composition of the advisory board has been enhanced;
- Exploring opportunities with strategic groups on various projects.
And:
IOS has been mandated to provide a technical report according to National Instrument 43-101, including an update of the resource estimate as well as recommendation in order to reactivate the former feasibility study conducted on the project by SNC-Lavalin in 2002. Due to this strategic input, projections of time frames and capital requirements for advancing the Lac Dore vanadium project have all decreased significantly. Vanadiumcorp is targeting NI 43-101 compliance of the Lac Dore project by the first quarter of 2014. The ability to access many years of data with the former main project manager of the Lac Dore deposit will save significant time, share dilution and capital requirements.
Garth your suggestions are just plain stupid now that VRB managment have taken control and are advaning the projects toward solutions .....I think you have been sitting in the cab so long sniffing your own Farts, it has corrupted your brain. if you think Adriaan is not doing a great job, then you should sell your shares, move on and give the rest of us a chance to enjoy a new year.... Sell today for all of our sake.