RE: RE: RE: Millright, Somewhat Obvious but Objectdoingthejob,
$180,000 per year is of little consequence in relation to some of the other strategic moves of the man you credit with business sense. Among some of Randy's capital p[reservation policies is a $3 million NSR purchase which did nothing to preserve capital, was grossly over-priced by any standard, was described as being for a business reason that was so ludicrous it was contradicted in the next written disclosure - but id did put almost $700,000 in Mr. Miller's company. The capital preservation policy appears to apply to Mr. Miller's capital rather than the company's - such as the 25% bump in remuneration for guiding the company through to the disastrous Micon Report, and the uncapped "Employment Agreement" that popped up when many shareholders on these forums were calling for his head - including you unleashing the Survey/AGM caper that you refuse to answer for.
An error in disclosing interest is of minor consequence in relation to the disclosures and non-disclosures of the past. This outfit has trouble with writing accurate reports - the Auditors stated it was 4% over prime, so your revelation that Management couldn't get this straight in their reporting efforts is really a non-issue - just one more example of a careless, sloppy effort.
As for business skills, Mr. Miller has accomplished nothing to date that has proven to be of any shareholder value. Gary Nash accomplished more in one week than Miller has in five years as far as establishing mineral reserves, and developing the production capabilities to turn them into shareholder value. And your story that Randy Miller has always referred to Langmuir as an open pit operation is hogwash. In 2007 he was blowing about the potential of Langmuir 1, the need for deeper exploration that would come with granting of the dewatering permit. Just another in a line of announced activities that never saw the light of day.
Mr Miller's capital preservation policy that you refer to has taken ISM from a market capital of over $300 million, to a market capital of under $20 million. That's not capital preservation - that capital decimation. And the company is sitting with no indication that it has economically viable mining assets, after five years' of promises. Mr. Miller did call this a mining company, did he not? He did say Langmuir is its major asset, did he not? The diversion of assets to loans, penny stocks and other non mining ventures looks to many like an admission by management of what critics suspected for a long time, and Micon verified - the major mining asset has proved to be a disappointing and costly failure. And the person at the helm was your idol, who has been very, very well paid for his guidance, who made a few million on his share sales, and who obtained his shares at much lower cost than many of the present shareholders.
I still prefer the ability, integrity and accomplishments of Randy Nash.