RE: RE: buyout Dear RoyallyScrewed,
FIRST, because days are numbered and we all know that one day it will no longer be bullboard on GBK, allows me to acknowledge the respect and civility which you have expressed to me. I never received any vicious comments from anyone, and even less from your part.I even remember you had encouraged me to buy when the price was low.I thank you for that.
For the question you asked me ,I have no answer. Is .39 or $100,000,000 is the right price for 1000 sq. kilometers and a mine in the making?For sure,NO.But,i remember 2 years ago when they came and offered .80 for Canadian Royalties:Czz bullboard was fire and blood:ROBBERY,STEAL, IT'S A SHAME. Everybody was asking for a white knight or to force Caisse de depot et placement du Quebec (the debentures owner) to make a move to keep the project in local hands.And what happened? Nothing .
No company or majors or even the government has to lift a finger to save the project.And however, the amount was comparable: 200 million for 100% of the project, versus 100 million for 25% and Raglan.
Does that time it was a theft? Yes.Is that still theft? Yes, and even more, because the price of metals has improved a lot and the construction of the mine is almost complete .And you know what?Even if in our board,I heard numbers like 1,2 5 or 10 dollars,i'm afraid it will be groundhog day.And there are several reasons for that.First,the timing is not good for us.The entire world ,but China,is scared to invest for long term,and it will last as long as Europe has not cleaned up its finances(it can last long).Those who have money keep it for them,and that's why in the near future you will see metal prices higher and higher:little investments and existing mines which discharges.Unfortunately,we will not be there...
Our management is no more young.Perhaps after 30 years in service,they dont want to fight anymore.After all,they are sitting on a bunch of stock options, shares and warrants.Why fight in court,when your convention force future buyers to pay you a fee for next years.They are geologists,explorers and businessmans,not producers.
The only price that is true is the one the buyers are ready to pay. I 've learned that in the adventure of CZZ. This is why I buy now when it is very low, to ensure that I put the chances of my side.It is what I did with Czz, Cuu, and now GBK.
I still think there is a chance of turnaround, but I have already begun to look elsewhere,and you'll be the first to know where i'm going (even if I know you are not interested to invest anymore)
Regards, Couples 4