RE: RE: 2 New Directors AppointedAfter being a longtime shareholder of EXMIN, and having spoken to the principals a number of times over the last 2 years, the last being the PDAD in March, I thing that it is necessary to take a step back and look at a few facts, regareless on the recent bashing.
First, it is necessary to understand that the entire junior exploration industry is in a huge decline, with very few winners lately. This is not meant to support management, it is just the truth, that I think most of you would agree with when looking at portfolios.
Second, the recent posts with respect to a severence are made by posters riduculously out of date, the agreement with respect to severences was made in 1997 and not voted on recently as presented, and was probabyly brought about as part of the shareholders' right plan to protect the company from a hostile takeover in those times, a plan that was put into place about the same time.
IMHO, what a way to consider your management, without looking at the facts. A true bunch of true losers on this board.
Third, yes the company thought it would get much more out of the Moris mine. But when presented with a very negative situation, and an intransigent partner, I think they did the right thing in selling. In the end, EXMIN only put up about 1M in cash to fund the mine, Hochschild put up the rest in shares at about 0.40 cents, a real loser and not really understandable on their part as they allowed the company to fall when they could have aided in support. In all, I would think that management would never have prudently considered this outcome. 1.5M is a lot better than shutting down, all things considered and allowing the biased opinion of K Duggin.
Fourth, I think that everyone who has posted recently has forgotten that the founder of the company are the ones being vilified, and one poster even stated that they have probably put nothing into the company, although they bankrolled the company at the start and the principals took no salary for many months, at their peronal loss, so that the company could continue until the mine was sold, without a single word of thanks from shareholders.
In the end, I hope all of the whiners will get out of the company before the long awaited upturn in junior explorers occurs, something that all of us believe will happen, and that will aid the many junior companies that are in dire straits today.