RE: Bob has shareholder clout.....For the most part, I think we escaped with very little damage yesterday. The coming months, however, are going to be interesting. If we are to believe the seemingly credible posts yesterday, there are many, many questions to be answered.
1. Did Harp knowingly release false results?
a. Why didn't he pass them by BM before the June 11 NR?
b. How he arrive at those numbers from the lab results posted yesterday? Something isn't
right here. That whole "factor of 10" explanation doesn't jibe with the ppm vs ppb confusion.
c. Why did he blame the lab? Another potential lawsuit for defamation.
d. These results are eerily similar to Morogoro and should bring a lot of discomfort to those
who went through that fiasco.
2. If it was a true error, why did he wait a week before issuing the correction, if indeed he knew about it almost immediately? The original mistake, if honest, is forgiveable - the delay is not.
a. How is the SEC going to react when they receive the mountain of complaints?
b. How are shareholders going to react? Will we start seeing class actions?
3. If BM is serious about punishing someone, specifically Harp, will he be able to garner enough votes to remove them?
a. How will the Chinese react to Harp's removal? I believe it was Harp who made
it all happen.
b. How will the Tanzanians react to Harp's removal? It appears this property
has yet to be paid for and closed. MOU's or LOI's are worthless IMHO.
We went from euphoria to uncertainty in less than a week. All of this could have been easily avoided with a little diligence and care. I, for one, am stunned at the turn of events. The coming weeks will tell the story.