RE: RE: RE: Gary AGAIN MBA,
there seems to be a lot of talk of this November time frame, not really sure the relevance personally, I don't see it as a big concern. I was also not suggesting this view is representative of all investors, simply a lot of them where we have the opportunity to communicate with the market on certain aspects and it does not happen. Do you think it helps Gary's credibility to suggest June 7 for the PEA and then have it delayed? If it is due to a positive reason, then communicate this to the market, at least give them something and hopefully something to look forward to. In his follow up to me, he said it would be out in June. Today is the last business day in June and I suspect we will not see it. I have no problem waiting for what I think will be a quality report, but why give the opportunity to disapoint on dates where you promise results. He also has a history of missing these dates which is troubling. There was no need to committ to a date in the first place, time to under promise and overperform, not the other way around.
Gary also said there would be a summer drilling program and he said the Grafoid pilot plant would be up and running in the second week of June along with the PEA. Are these not material developments that are deserving of a NR as well? Would this not lift the confidence of LT investors and potentially bring in new money? It is one thing to have the goods, but part of the success at this stage in the growth of this company must come from marketing Focus at the investor level, something we saw NGC do quite successfully with less 'gas in the tank' on paper than what I would describe FMS as.
I refer to myself as a frustrated believer, as I have been holding for a long time and have every intention of holding for years to come. My average cost is still quite a bit lower and the result of a heavy initial investment in this company makes this investment now worth about 85% of my portfolio, so I am fully vested and have added about as much as I reasonably can with new money and I am probably respoonsible for friends and family buying half a million shares on top. At some point however investors want to see support for their investments and even a return, especially relative to all of the potential that has been building with fms, not a 45% drop in the past 3 months.
Respectfully,
Lodog.