RE: RE: A Sailor's ViewThere is a principal in business which says do not chase sunk costs. Basically it means just because you've invested in something heavily, doesn't mean you should continue to chase it -- especially when it is clear it won't work. Cut your losses and run.
I am confident I could exit my 525k share position which I accumulated at
.08/share many years ago and not take a loss. I've held as a very loyal shareholder. This company's management has not returned my loyalty to them.
If the next PR and a conversation with Mark do not cut it, then I will adjust my holdings. Why band together as shareholders? Describe to me who on the board has a plan and what that plan is. Have them put it in writing and e-mail me. If could see a ready made backup CEO on the board ready and willing to step in who has built a mine and has the operational experience to LEAD and get things done I might be inclined to proxy my shares or vote in person . I don't think this is the case. As shareholders if you want to get something on the proxy forms for a vote, you need to pay all the costs associated with preparing and circulating your amendments. Its easier to sell. Ask yourselves why have an AGM meeting 3 days before Christmas if its not to avoid this type of action.
I'm not out yet and I can still be convinced to hold in there, but things are not acceptable as they are and there had better be a clear explanation for the delays, and a plan to ensure they do not occur again. There also needs to be a concrete way ahead for further exploration and development of the company.