RE: RE: RE: RE: RE: RE: RE: More BEARISH posts nee Personally it wouldn't surprise me if Ron Perry resigned his position within the next six months. I think he was the voice of Metanor during it's PR/financing phase.
Anything is possible, but when the following are considered, my guess is that he will be in place for many years:-
- Fees & stock options:- As the June 2011 MD&A reports (extract below), RP collected $300,500 in fees from Metanor in a company that he controls and also another $123,000 fees in another company for “other services”. Therefore RP earned a total of $435,500 fees from Metanor, by way of his controlled companies, in the 2011 financial year. Since this is more that the $315,462 earned by the Prime Minister of Canada, then why would he leave Metanor?
- Director’s stock options:- the average option price is circa 0.80, but may are exercisable up to 2020. Therefore, it is unlikely that RP will walk away whilst these are all underwater.
- Pinetree Capital Limited:- RP has been a director of this resource investing company for many years. Pinetree’s SP has fallen from a high of $25 in 2007 to $1.21 today, in comparison’s Metanor’s fall from about a peak of $1.2 to $0.25 today. Accordingly, an 80% fall in Metanor’s share price may be considered by RP to be a success story, in contrast to performance with Pinetree’s 95% fall from its peak. Since it took the Fed Reserve 100 year to depreciate the US$ by 98%, then perhaps RP could be competition for the Bernank……
Source - Metanor - MD&A June 2011
In 2011, director’s fees for an amount of $15,000 were paid to Ronald Perry, $17,000 to Raymond Couture, $25,000 to Tristram Coffin and $15,000 to Robert C Bryce. Consulting fees of $300,500 were paid to Briolijor Corporation, a company controlled by Mr. Ronald Perry. Rent expenses were paid to a company controlled by Serge Roy for the Company’s head office for an amount of $36,000 in 2011 and 2010. During the year ended of June 30, 2010, the Company paid director’s fees for an amount of $3,000 to Malcolm Duncan, $8,000 to Ronald Perry and $14,000 to Raymond Couture, $9,000 to Tristam Coffin and $7,000 to Robert C. Bryce. An amount of $123,000 was paid to a company controlled by Ronald Perry for consulting fees regarding special mandates and other services. These transactions occurred during the normal course of operations and were measured at the exchange amount, which is the amount established and accepted by the parties.
Source – Pinetreee web site:-
Today, Pinetree’s strategy is to identify companies with good potential properties and reserves and invest heavily in advance of the projects being developed. Due to numerous global economic and political factors, Pinetree expects the prices of resource and energy-related commodities to remain elevated in the future. With a finger on the pulse of the market and a proven track record of anticipating trends, Pinetree consistently invests ahead of the cycle.