RE: RE: Buy FIU or Not? Averaging down with this dog would seem to me to be throwing good money after bad. Until this board is gone, they will be working against shareholders for the benefit of others and themselves. The value of the shares is entirely in the hands of AngloGold and Gold One until the deals are voted down, and even then if the value of the shares will be dependent on the ability of the board to negotiate well for shareholders. At that point if they do not resign there will be chaos because the board cannot negotiate in good faith on behalf of the shareholders as a whole, and anything they do will probably be fought with lawsuits. If the shareholder group represented by Olma was in control, I say the shares would be worth 0.25 now on the hopes of getting payout of 0.50. If the Waterpan bid was accepted, I'd say the shares might be worth up to 0.50 on the hopes that MWS and Ezulwini could be run profitably in the future. With this board, the share price is halfway between 0.01 and 0.15 because the change of getting 0.15 is about 50% in the minds of shareholders right now I think. Personally, I think we'll get 1-2 cents next year if we are lucky if this board has it's way.
I propose a new resolution:
#10 that the entire board of directors resign and a new board be elected by shareholders with the sole purpose of giving the Waterpan group 50% stake in the company in return for 150M to pay back the debenture holders in full and to align the interests of the shareholders with the running of the operations for the benefit of the shareholders.