Another Flashback Our returning contributor to forum discussions has pointed out his desire that as investors we try to help each other. A number of contributors have attempted to do this over the years, with limited success. In some cases [including our returning contributor's efforts] the help offered was equivalent to providing gasoline to extinguish a fire. In other cases, the help consisted of excellent and perceptive advice [as proved by subsequent developments, and in this case lack of developments]; but those needing the help preferred their dupe induced euphoria and delusions, and refused to be confused by reality. Our returning contributor believes that the approach on the forum should not include any reference to past events. At the risk of triggering a relapse by our recovering dupe, I would like to discuss an initiative that was announced in the past with much fanfare, has year to bear fruit, but as there has been no announcement of discontinuance, might be considered as another example of pre-planning by The Dream Team - and may be of current interest.
There are countless examples of pre-planning in ISM. In fact some might say that most of the News Releases and Operational Updates indicate that the emphasis has been on the glories that will be realized in the future, possibly at the expense of doing nothing in the present. However, great corporate leaders must have this forward vision, that mere mortals may not understand or appreciate. For example, ISM has long ago provided for the purchase of the NSR, which will reduce production costs when Nickel is produced. Attention to this detail did not waver, in spite of the company not yet having proven Nickel Reserves, nor the stated strategy of being "explorationalists" not producers. The company has also spent years developing the planning process to define which First Nations are in the area, so they can plan to get into a plan to discuss plans for appropriate meetings to enter negotiations for a preliminary agreement with the previously identified First Nations bands. Similar detailed and prolonged efforts have gone into obtaining of a single dewatering permit. This foresightful group of corporate leaders also arranged flow through funds, years in advance of the related qualified expenditures. This pre-planning did not come cheap, with the Federal penalties that were incurred, but it has provided the funds in the event that the planned 2010 exploration program is completed in 2012 or later.
The pre-planning strategy that I want to discuss at this time is that announced April 14, 2008 when Allen Mann was introduced as having joined the Executive Management Team. I'm assuming this falls in the pre-planning category, as he was to be "responsible for the expansion and development of operations at its Langmuir property near Timmins, Ontario as well as its expanded exploration activity at the recently acquired Cleaver and Douglas properties"; and there hasn't been any disclosure of Mr. Mann's involvement, nor any significant operations at the three properties that would require the skills of someone of this stature.
I will not go further on this topic, in this post. First of all, the recovering dupe has in the past expressed a dislike of posts that exceed his attention span. We can't give this exchange of investment ideas the required attention in two short sentences, but I do want to compromise somewhat in the hopes the returnee will participate in discussions on this company, which he has yet to do since his return. Come to think of it, he hasn't discussed much related to the company since he became a fifth degree beerbelly.