RE: RE: Thoughts..... OK a first, I am replying to my own post :-) but I have been pondering this all evening, now I am the first to admit that I certainly don't know everything ... however ... I have owned and operated some dozen businesses, I have been a Supervisor, an acting Manager and an acting Director. I have traded 6 figure trades as well as penny stocks like this one. I have worked in mines in the north and shipped gold from gold mines
I have to be honest and say that I don't see how a split can benefit me as a shareholder that has a sizeable position in this stock. I bought this stock first when it was risky business, think my first buy was at about .06 cents. I continued to buy and owned a sizeable position. Some time ago I didn't see the production happening and the forward movement happening and questioned how long the share price could sustain. I sold my position at .60 to .65 cents per share. One of my better moves.
I waited throught the downs and bought back in for the ups ... probably averaging about .24 cents per share. but ... if they do a split it will have to be a 10-1 split if they want to trade on AMEX .... so I ask you honestly ... I can see my investment in YNG without the split doubling or tripling or more(hitting .60 again to $1.50 per share) .... but if they do the split and the stock opens on AMEX at $3.00 per share, I can not see it doubling and tripling and more ?
I may be wrong but if they get that hungry mill up and running to its max capacity how will they feed it ? I have to be honest and admit that I have not done the math but I don't think the mines they have at JC at this time are capable of feeding it ? ARE they ? I may be wrong ? and yes they have other goals but many even like Ketza are probably 1 1/2 to 3 years away ?
So .... in my humble honest opinion as a shareholder who tries to remain positive but who also have to remain true to myself and be honest ... I do not see how it is in my (a shareholders) best interest to do a 10-1 split at this time.
I believe in the potential of this company or I would have kept my profit and run and not looked back but I came back for a second time to re invest because I believe .... but I seriously at this time can not feel it is in my best interest for the company to split my shares 10-1 ! If they endure and hit their expected production levels then the shareprice will increase, especially if they hit positive profits. No maybe not to $3 per share and certainly not to $6 per share. But if they want this to work I think they need to get the show producing first ... then if they really have too .... look at the split and listing on AMEX.
If they do this too fast ? before the bugs are out and everything is ready ... at $3 per share if they have bad luck, worse weather, shut downs ... somethings breaks and takes a month to fix and ruins a quarterly report .. a stock at $3 per share could easily drop to $2 per share or less. I have seen it and sad to say have experienced it in my portfolio ... I think many of us have lost to a down split ... has anyone out there really ever won on a downsplit ? I know I have lost lots but never come out a head.
I personally don't see the downsplit as the answer just like I don't see listing on AMEX as the answer. To me the answer is to stay the corse, get things running and make an impression, then if you have to consolidate to lessen the number of outstanding shares because you honestly can't grow the company into the number of shares ....then do it then not now !
So for the positive people / shareholders out there ... I am still one ! and believe in this company ... just not in the down split or share consolidation, same thing nicer phrase ... for the negative people from the "ICE" age ... no I don't agree with you at all !!!
My humble opinion ! best of fortune to all and lets hope they really make their decision based on the "WHAT IS BEST FOR THE SHAREHOLDERS" !!! Time to live up to ... not down to