OTCPK:CFMSF - Post by User
Comment by
tooclassyon Jun 16, 2011 4:17am
480 Views
Post# 18722240
RE: Osisko "Ownership"
RE: Osisko "Ownership"
18barker6,
I like analogies and metaphors and was fascinated with yours. You said "Management thought they were the "cat's meow" and basically threw their sugar daddy out the window." Actually, I think you have these concepts exactly backwards. It was Mineralfields who thought with their fully diluted ownership in the 40-50% range that THEY were the cats meow, and explicitly attempted to throw Clifton Star directors out the window via a proxy fight, and thereby threaten a stealth takeover of Clifton Star. When this last minute maneuver in December, 2009 failed, Mineralfields in the following months crawled away with their tails between their legs as it were, and started divesting all their huge block of placement shares, and this damaged the market. More recently, the lack of drilling since August (!) of 2010, coupled with a lack of formal announcement of the commencement of the 2011 drill program (thus ensuring Osisko's committment to the J/V) has hurt the stock price consistently since the beginning of the year and particularly since the recent 43-101 news (notable for its omission of anything related to starting up the drill program.) I hope and expect this standoff to be resolved soon.
TC