RE: Someone looks peevedNickel77,
This is too funny!
Randy crying about URSA being secretive! This from the CEO of a company that put $6 million of the company's cash into a low rate loan, to an unnamed private company, that we now find is secured by European mutual funds. of all things. It would seem to me that doing this, without explaining the rationale, or the people involved in the private company is being secretive.
And Randy whines about there being some ulterior motive involved in a mining company raising money for exploration! This from the CEO of a company that raised many more millions of flow through money than it managed to spend, that was penalized for non compliance, and those buying their flow through shares were hit with unexpected taxes resulting from the ISM non compliance.
And Randy expresses disgust for someone trying to maintain control of a company. This from a CEO who was handed a lucrative loss of office package, when many on this forum were calling for his scalp. I would say that revised Employment Agreement that was sprung on the ISM shareholders last spring was a far more blatant effort to preserve a desired position, than a mining company raising money for exploration.
Randy seems to think that there may be some devious efforts involved in the timing of the placement and the date of the meeting. The dates of meetings don't seem to concern him when ISM is involved - ISM hasn't had one AGM that complied with TSX time requirements since it became listed on TSX. As I recall last year they fiddled around with setting the date until it hit on a long weekend and attracted three shareholders.
Randy says that the first mention of the meeting for voting on new Directors was January 26. Most lowly small shareholders knew the Special Meeting that URSA announced on November 19 was for the vote that ISM had called for - you'd expect that URSA's largest shareholder could have figured that out. If the date was a problem I believe the shareholder that called for the vote can take matters into their own hands according to regulations. Maybe Randy should have done something earlier, instead of crying over spilled milk - when it looks like his company is the one that spilled it.
I think you're right, Nickel77, I'll bet Randy is peeved. It looks like he's spent a good part of his $360,000 per year time on a strategy, and he got outfoxed by a guy that gets paid 40% of Randy's take home pay, and also manages to get a mining company up and running. If I was guessing, I'd guess there were some other people involved on this move on URSA, some that might have been picking up a a position to vote in hope of future advantage if they could get another slate of Directors in charge. My guess is this group, and ISM, might hope for some URSA "events" that would result in a quick buck - not something as boring as slow, steady progress in building a producing mining company.
It will be an interesting few months. The outcome of the March 3 vote will be interesting in determining the future of URSA. It will also be interesting in seeing who ends up on the slate of candidates promoted by ISM - I have the idea it might not be overloaded with mining experience. And then of course, I believe it was indicated that another NI43-101 would be released in the first quarter of 2011 - what are the bets on this happening?