OTCPK:MGMXD - Post by User
Post by
materialsgirlon Jul 09, 2015 10:59am
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Post# 23907085
Ross Beaty
Ross Beatyhttps://www.theglobeandmail.com/report-on-business/careers/careers-leadership/mining-man-ross-beaty-between-a-rock-and-a-green-place/article11173222/?page=all
The linked article is from 27 months ago and in some ways nothing much has changed. The bad financial performance persists for the 9 quarters since then.
Ross Beaty made a lot of money by selling companies, not by mining per se.
I interpret that AXY is just an asset like all others to him. In fact he may be more emotionally connected to silver than to green energy in Iceland and elsewhere. The interests of all shareholders overlap his own interest and that of his 5 children. He will not allow AXY to be taken over at 40¢ or 50¢ if some opportunist comes along. That is for sure. But by 2017- 2020 there will be a share price (C$1.50 or maybe a bit higher) where a takeover would be good for all shareholders including his family. After all, he could apply the money to a place where he understands the workings; silver or copper. Ross has been smart and lucky in that arena. Not so much so far in green energy (based on hard data)
Question. Does anyone have an estimate of what his average cost was for his shares?
mat