OTCPK:CFMSF - Post by User
Comment by
tooclassyon Dec 29, 2009 2:53pm
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Post# 16623747
RE: "Bashing" Mineral Fields?
RE: "Bashing" Mineral Fields?
Seven reasons why I think Mineralfields = disingenuous
1) Mineralfields' last moment ambush of Clifton Star revealed to other
investors like me an appalling lack of ethics and a Machiavellian "end
justifies the means" attitude;
2) after holding a gun to the Clifton Star "head" it was disingenuous
for them to then complain about the response;
3) Changing the desired new slate board from 3 of 5 to 3 of 6 is
disingenuous too, not the magnanimous gesture it was made out to be.
It avoids triggering change of control provisions which may involve
expensive payouts, while still allowing Mineralfields to potentially hamstring
Clifton Star management at every turn;
4) It was once again insincere and misleading at the minimum for
Mineralfields to claim their slate of three new directors are all independent.
One of the director picks is their corporate attorney, and the others have
likewise received compensation from Mineralfields;
5) This action by Mineralfields has wasted management's time and the
company's money. That money is the property of the company and could
have been spent on other priorities for the benefit of all shareholders;
6) Mineralfields has not met any minimum burden of proof in showing
how their slate of directors, and eliminating two of the current directors,
is best for the company. I am forced to conclude that their efforts are
only (supposedly) good for Mineralfields and not for Clifton Star.
7) Current management has lifted the stock recently from as little as $2.00
to as high as $5.05. Mineralfields proxy fight immediately knocked the
stock price from $5.00 to as low as about $4.00. I really don't appreciate
seeing them knock 20% off the value of my investment.
The best thing Mineralfields can do is get out of their own way and let the
current management continue doing what they have already done a superb
job doing, which is to substantially raise shareholder value. This
will be good for Clifton Star and what is good for Clifton Star will be
good for Mineralfields.