RE: More Drilling & OSK Take Over
Canada 7 wrote: Who saidthese before andrepeatedly? Now, even Sailor is agreeing on this afterall thesediscussions.
I never disagreed with you onwhether their would or wouldn't be more drilling. I disagree with youon pilot mining, stock buy-back, and management share purchase asmechanisms for raising the stock price andpromotion, and more particularly their appropriateness as creatingshort term, or long term value for shareholders of the company. I'venever expected or said OSK will buy us out quickly - go right back to myposts in November 2009 where I said this J/V was more like a longcourtship leading to a marriage. We have differing opinions, I stillrespect you as a person and I've no particular personal animositytowards you or anyone here. I try to just stick to facts and provenbusiness principles.
Yes, but when I mentioned that OSK will not buy OX out in the near term, people were critical, and even accused me to have an agenda. But when you came out to say the same thing, people have different opinions with the same observation. Thus, I mentioned that this forum has become scud-land or sailor-land, and opinions or comments from others are not welcome. This is really sad as no body is right all the time.
Back to OSK buy out of OX.
While OSK may buy out OX with a very small probability when the new 43-101 is available later this year. If this does not happen, OSK may buy out OX after more drilling and maybe another 43-101 in 2011. But there is a possibility that buyout will never come after more drilling, and OSK will just have 50% ownership. We cannot rule out all these possibilities.
OSK has its own plan, and their plan is different from the plan some OXshareholders thought. The fact that OSK does not mention OX in their PRis a strong indication that they have their own thinking.
Also, it is possible that OSK may drop the partnership completely for reasons not related to OX at all, and of course if they do so, they return the property to OX. I will be very disappointed if there is no buyout or when OSK drops out the partnership, I certainly do not like to see these to happen, but it is possible these may happen.
Thus, in the meantime, OX management should do things to enhance shareholder value.