RE:30 days is UP for HudbayHey Muff;
If I were Hudbay I would not be concerned. Just look at the pathetic attempts that Callinan has initiated over the last 5 years. CAA has received 110 million from the Flin Flon NPI, most of this capital has been squandered on exploration plays by Mike Muz with the help of the current BOD.
During this time period the forward movement of the court case can only be measured by growth rings on a tree, even garden snails move faster.
What a joke, we the shareholders have been taken to the cleaners by this BOD and the officers of this company. A large number of the shareholders have been holding their shares thru the ups and downs of the market over many years.
Meanwhile we watched officers and some directors selling their options to us, when exercising their below market options. Of the 110 million dollars CAA received from the NPI only $7,897,311.00. has been paid in dividends, all the while the officers and directors have rewarded themselves like royalty, never ever fulfilling their fiduciary duty to the shareholders.
The Roland and his Buccaneers back in Newfoundland look like they are trying to drain the remaining funds from the Treasury helping their fellow cronies be successfully in the mineral exploration business.
The latest attempt at stealing our company is the advance notice rule they attempted to shove down our throat at the last AGM. There was overwhelming shareholder opposition to this last year, they removed it from the agenda at the AGM before the shareholders had the opportunity to reject this controlling move.
This year they come back again with the same proposal, shame on you BOD and Rolland, you should be ashamed of yourselves for your deceit and you should all resign.
I've said this before on this chat line, but now is the time to get these greedy incompetent people out of our deal. They seem to forget that they are our partners, or maybe they want us all out and then take the company private so the pigs can really feed at the trough.
Reviewing our Callinan employees at the east coast office, all of whom have previously worked with Roland at his previous position with Altius all have attended the same university, cosy little relationship to say the least.
Altius seems to be doing good in the market, trading at $11.00 this morning, with a 2014 first quarter loss of $1.29 million. Most likely because they laid off all of their employees to Roland at Callinan, so we can pay for them in the interim till Altius makes a stink bid for Callinan after Rolland and crew devalue the trading price of CAA shares.
I note that CAA pays more out to employees, office expenses, travel etc. than dividends to the shareholders.
Every mining company in the world is cutting costs, suspending development of projects, cutting office and field personal, in an attempt to stay in business, lets see some cost savings from CAA.
We yesterday received the first shareholder directed information letter from the Rolland, only took 2 3/4 years for him to communicate with us, most of the info was covered in the 1/4 reports or the annual reports, but it was a meaningful gesture.
At this late stage in the game we propose that CAA close the offices, layoff the staff, stop looking for royalties, Rolland keeps telling us he can't find any good paying ones, as is indicated by what has been purchased.
The company can then focus the remaining funds in our Treasury on prosecuting the court case with a well known litigator handling the file, not Brian Erwin. Prosecuting Hudbay to what should be a successful conclusion in the courts of our country, with the intent of court ordered settlement. NO NEGOTIATION.
With no overhead to pay, the New BOD could increase the dividend, maybe double the current payment, this would make the securities of CAA that much more attractive to new shareholders and would increase the trading price of CAA.
When down the road the case has been heard and decided in the courts, the funds the company would receive could be used to purchase a real paying royalty that would pay our dividends. By preserving our capital, CAA could expend these monies on a exceptional royalty, instead of the current exploration model.
By paying higher dividends the price of the securities would increase enough to fund by way of Private Placement, a paying royalty purchase that in nears immediate and long term benefit, for the shareholders.
These are our thoughts on Callinan and we would be interested to hear other shareholders opinions on the current state of the company, thank you, good luck, btshooter.