RE:RE:RE:RE:RE:Re The GeorgeAnd to be clear, I don't think anyone is blaming current management for the current low stock price. No question we'd be in the dumps given this horrible price environment.
What we are saying is that with a better Board of Directors, our share price wouldn't be AS bad, and our capital structure would be much stronger. I wouldn't be losing as much sleep worrying about how we survive the possibility of copper taking another leg down. It doesn't take but a few quarters with copper in the $1.50 to $1.75 range to sink the ship. Not trying to be negative. Just pointing out what I hope is a remote risk, but a potentially catastrophic risk. I doubt any of us were thinking copper was going to $2 when it was at $3 last year. So our expectations can be exceeded on the downside. Fingers crossed that we've seen the lows.
The problems we have are really about capital allocation, credibility, and the ability to advance the company's projects. The fact that we haven't entitled a single project since my first investment in 1993 speaks volumes. The horrible relations with FN has to be addressed. And I'm not saying that is easy. It may even be impossible. But given my large investment, I believe the shareholders would be best serve by giving a new board a chance. If we've had zero new projects permitted in 22 years, we can't do any worse? At least that's my thinking.