RE:RE:EOIM, I hear you loud and clearThat certainly makes the most sense. At this point you I certainly don't expect Phinney to provide the details needed. You just came out of an AGM with no details on a magnesium project. Just lot's of hot air and why he is no longer CEO. As much as it may seem sudden, efforts to remove him have been a foot for more than a year.
A lot of scenarios being posted don't make much sense or merit much attention. Any type of takeover does not solve the equity concern. Then I suspect you have over 50% of the shareholders who would not sell under even $5 a share. I wouldn't sell under $10.
Then you need to factor in that buying the shares on the open market doesn't raise a dime of the $100 million needed. It is still easier to buy in by issuing more shares and move forward. Postpone the potash does not respect your commitment or deal with GSFC.
You have limited resources and as much as the magnesium seems interesting you don't throw out the baby water with the bath water. From what I have heard, it seems to be a different process so there are a lot of different implications and the revenue concern is still 2 years out and you still haven't designed the thing or the money in place. Sure sounds like a repeat of 2011. Right now I have to put my faith that some common sense will prevail.
I have always said that raising the equity was key. Unfortunately, despite all the enthusiasm this was the biggest milestone they avoided to mention and unable to execute. Something he had to admit last year and kept hoping he could overcome. Well Uralkaly sure put a monkey wrench into that.
If you focus on the fact that their property has potentially a mine life of 350 years at 2 million tons per year, plus magnesium far exceeds WPX and others makes this a marketing and PR challenge as we'll. That is what they need to focus on to get people interested in the stock. It's all about how you present the facts, but the ploy that they could have had it done by now has blown up in their face. Unfortunately, it has taken longer than most we're expecting and why all the funds and people have lost interest.