PINL:VLTAF - Post by User
Post by
gold_diggers1on Aug 21, 2013 8:59am
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Post# 21685808
TGM's pp
TGM's ppI wish I could say the same for VTR....
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"...Although 2013 has been a tough year for junior miners, True Gold Mining Inc. has pulled off two significant financings. In May, it raised $10-million from Teck Resources and last month it raised $17.4-million in a private placement from Liberty Metals & Mining Holdings, a subsidiary of Boston-based Liberty Mutual Insurance. Both deals were done at 33 cents. Later, on August 8, board chair Mark O'Dea bought 200,000 shares in the public market at 27.4 cents. True Gold is focused on mine development in Burkina Faso...."
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And if VTR compared to Papillon, there's no comparison at the moment.... as of now, VTR does not even have a BFS.... I mean.... a BFS date, let alone a BFS?! Hence, the market is valueing VTR less than 1/10th of Papillon.
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Is there any direction from VTR management on when a different (hopefully improved) approach resulting in a BFS is planned? Current BFS date (end of Q3) and Financings options (H2) for Kiaka as depicted in the corporate presentation 2013 goals are now shot?! At this point, I would rather see VTR sell the whole company like Andina Minerals (ADM) did (at $0.80) for its shareholders....... instead of seeing stock options being granted for no reasons and/or objectives being met?! I would think management should be more sensitive..... should have waited for the sector and/or VTR sp to recover, or after some tangible objecives (like selling Gaoua, achieving a BFS, securing financings for Kiaka, pulling off some JV.....) before patting themselves at the back and granting these cheap options?!
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That is why the rate of approving them continue to be directors and officers is more 90%.... but the rate of approving granting options is only 73%. Shareholders have expressed what management should have done?!
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GLTA