RE: RE: Rebound PeaceCountry and Hawkeye
My concerns lay with the way management seems to have directed and spent the last years three and half million dollars of raised financings. It may be more prudent at this time if present management just Joint Venture with experienced operators that know what they are doing. It certainly can’t get much worse than the way this group seems to be handling things.
I still like the prospective properties AHC have, but what good are the properties if management keep diluting at lower and lower levels destroying shareholder value. It appears the dollars raised so far are mainly benefitting one group, management. The rest of us continue to loose out, as shareholder value continues to decline into the toilet.
From what I have seen so far, I expect the next financing will just cover management stipends for another eight months or so, while we work our way through the market downturn, as well as the issues surrounding recent Argentinean government initiatives . When and if this company ever gets the long promised community agreement for Perquitas, we will probably be sitting nearer a 100 million shares. Raising the cash needed to put together a drill program of any substance for Perquitas will further push dilution to/or over the 100 million share mark.
I would have to think by that time, a rollback will be a priority of management which is probably already in the back of their minds.
Management will more than likely use the general market turmoil, as well as Argentina’s Government issues that threaten outside companies as an excuse for the poor performance they have shown regarding dismal shareholder value to date. Remember, this group has been down there for years and should have been well aware of some of the Political issues that may be coming that could affect short term investment plans. Yes, it is nice to acquire as many prospective properties as one can, but at the same time, it is too bad this management were not wise enough to put a little of the last financings away for these kinds of fluctuations and issues that will always occur, especially in riskier jurisdictions.
In my opinion, AHC have the properties; it just seems AHC are lacking qualified personnel to get the job done.
I hope you are right Hawkeye and we will see some positive news coming out of AHC over the next month to drive AHC forward, but from I have seen so far, I am beginning to have some very serious doubts.
Best
Nickel