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Magnum Energy Inc. Common Shares V.MEN



TSXV:MEN - Post by User

Comment by stocktalk2on Jan 16, 2010 11:54am
500 Views
Post# 16686802

RE: Disinterested shareholders

RE: Disinterested shareholders
Let me see if I understand your vote. You say you would like to reprice your cost base. The stock just reached a 52 week high at .58, and as far as I can tell, a multi-year high. This would mean that you bought your stock at a much higher price, perhaps even being in the IPO at .75.

If this is correct, you bought into this company when it did not have any industry management, no production,  and no reserves. In other words you bought a story.

Today's management has helped you  recover the vast majority of your investment, and your response is, it burns you up! Perhaps you need to read the reserve report news release stating that the company now has about 9 BCF combined reserves and a fully diluted value of .80 a share after the acquisition.

Just out of curiosity, where was your indignation last in the last AGM when this was put forward, you know, when the stock was around .10 or .15. and we were in the middle of an economic disaster. We are lucky we are one of juniors that not only survived but thrived in that environment.

I vote that you sell your shares and go buy another story with no assets. Then you can legitimately whine if management  gives itself even a paltry .10 or .15 bump in their options. 
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