RE: RE: Proxy Circular Schiff, what exactly is your problem? All he is pointing out is that the company, regardless of what is going on behind the scenes, has has covered themselves from a regulatory perspective. If there were truly material discussions taking place, partial sale or not, we have a right to know. The key statement in there as well is that they are not aware of any intended or pending offers. This creates the appearance that everything is and was above board.
Every shareholder should be very cautiously optomistic at this point. All Donlin pointing out is the very glaring fact that from a regulatory perspective they have covered themselves.
I'll throw this potential scenario out there for you, and keep in mind we as shareholders have no protection in place right now....
What if there was a pending deal involving EOM? The EOM decision made the deal fall through and there was no seperate and distinct deal in the works for GWY in the event that the EOM decision didn't go their way. Recognizing this was a very real possibility RH had a contingency plan in place to ensure that they could keep their operations going, and more imprtantly, have a reason to compensate themselves. Going to the market to issues shares takes weeks if not months, so the quickest way to raise capital is by securing a short term credit facility which they either hope will carry them through to an offer or by them time to complete a private placement?
As for the low, rate and lack of pledge of any GWY assets, they (the insiders and "friends of GWY" could easily provide a personal guarantee/pledge of assets pending the closing of a private placement. Or a personal guarantee to purchase a certain percentage of any furture private placement. The possibilites are endless in these types of negotiations and arrangements.
In the mean time the price runs up on spec offering another short term opportunity to those that are in the know or expect further delays in this story playing out.
I have seen nothing in their actions or in their press releases to signal otherwise. If there was no deal in the works then the is definitely no reason to allow the share price to suffer as badly as it has and withhold the drill results.
If there were talks ongoing then they are in breach of their regulatory obligations and, not only that, they are flat out guilty of fraudulent misrepresentation.
Quite frankly Schiff's statement "As of the date of this circular we are aware of a takeover Bid, please don't buy our shares because it will look too obvious" sickens me. It is this exact mentality that fuels corruption in this industry and insider trading. It's not different then saying the industry shouldn't police this stuff because no one will ever admit guilt. If we don't stand up and hold these guys accountable no one will.
Everyone has had a hard on the last week because we've had some news.....yet they are still withholding the most material of facts.... what our investment is truly worth (drill results and resource)....the question is why?? When they finally release them, if there is no more to it than drill results and a resource estimate and they simply state they will continue the next leg of our infill drilling, what do you think is going to happen to the share price?
I really do hope I am wrong and have an opportunity to eat my words. Despite what Schiff tries to label us all as, I am not a basher. I have been long GWY for over 3 years and just like everyone else I want to unlock my $$ from this thing. I'm also a huge fan of this board. It's probably one of the best I've followed with many very insightful and well thought out opinions, including yours Schiff. The only thing that scares me, is that everyone seems to be solely focussing on the positive possibilities, which is pure speculation and not the very real and potential risks.
I am thoroughly sick of what goes on in this industry and the lack of any accountability. These guys are very smart and as long as they have a plausible explanation for their actions (even if their true motive was something else) the regulators have nothing to pursue. Who is watchin our backs if not us?
At the end of the day we are still sitting ducks with no vote and completely at the mercy of Management. We also still have no clue what is actually going on....
BH