RE: Sprott help incest & collusion is suffocatingAnyone who thinks consolidation or a payout is not better than a NEWCO…here is an example of their Pay themselves first incestuous ways
It appears that the Board of Directors and the management of Tagish Lake are closely aligned with YS Mining, the principal creditor and a major shareholder of Tagish Lake. It is the current Board and management team that petitioned Tagish Lake into CCAA protection.
* In April 2010 the Board of Directors of Tagish Lake granted themselves a total of 11,981,725 incentive stock options at the minimum price permitted by the TSXV rules. On July 15, 2010, the Board of Directors of Tagish Lake granted themselves an additional 2,000,000 incentive stock options. Notwithstanding that New Pacific owns approximately 9.9% of the issued and outstanding shares of Tagish Lake, New Pacific has twice requested and been refused a copy of the Tagish Lake stock option plan on the basis of Tagish Lake's assertion that it is a private document.
* The proposed acquisition of Tagish Lake by YS Mining in 2009 not only destroyed shareholder value, but also consumed almost a full year of management's time and considerable expense, caused the Company to forgo other opportunities and risked seizure of the Company's main asset by the secured creditors.
*correction should have read
1. Sprott demanded them be a little more transparent about their BS shell piggy bank game (a gal can always pray)