RE:Still deliberating...Eagle,
I see we are (many of us) upset with the terms in which Eco Oro Management has laid this out.
I spent years talking to Anna & actually Joao before. He didn't have a clue & I always respected Anna for putting her best foot forward, although with muted answers. Don't you think Tenor would be willing to review the terms given they are "Pros" at this Arbitration game & must see the high chances Eco Oro will prevail? Or maybe there is another way?? (below)
So they raised the bar in terms of the Eco Oro deal, Why? Is it the cost of doing business that demanded much higher contratual terms? Honestly these majors have deep pockets & the 14 million could have been structured to not only include them but many of us minority shareholders as participants. You can't tell me that we couldn't raise the 14 million & reduce staff down to NO CEO, a skeleton duty CFO to manage the day to day with the Board on "hold" > salary wise with a compensation package bonus once we win Arbitration? Most of these Board members are drawing salaries from several affiliations with other companies besides Eco Oro.
Eco Oro needs to go on a diet & has needed that for a very long time. Too bad we didn't go for Arbitration when we had plenty of cash on hand. THAT is what is bothering everyone here, jusy way TOO much waste of the treasury & now they suffer no consequences??
I would like to see the Board broaden the participation to any & all who would participate, NOT at .026 per share but at .22 cents per share. The math would be this: 65 million shares in an everyone participates placement @ .22 cents per share = $14,300,000.00 Why in the F__K wouldn't that work?? Let's make this simple >> everyone >>> we could all participate make it a public offering (with committed TOTAL shareholder pledge) we wouldn't need Tenor at that point! The dilution would be held to a minimum & the returns would be enhanced with the type of high value damages Eco Oro will seek. Let us raise the bar in Unison against the Colombian Gov't. , & we could even repay the 3 million to Tenor as well! I wonder how much of that 3 million we have left with Williams et al still draining us dry!! ???