Management NET weath down huge! At last check Bates had over 8,000,000 million shares and 5% of the company float, in the last 4 x months he has lost on paper over $10,000,000 million dollars based on my estimates - over 24,000,000 on paper in the last 20 x months alone.
All management options including the last round at $1.50 are now well underwater by 50% to break-even. So zero options vesting from grants in the last 3 x years....only prior and even those are now break-even so no money coming there either....WOW....
What does it take for management to pick up the phone and say....hey Xstrata here is what we have and based on the enviornment take a stake, buy-us out.........even $2.75 a share is 575 million....what a steal...at this stage if purchased you get no debt, 50 million on the bank, resource, fully upgraded mine worked on for the last 4 x years, 350 x million ton resource, and too boot 200 million in new captial equipment......
I would say yes....