Why dilution?A strong benefit to the insiders of the massive dilution is if there is life after arbitration.
Option 1 not only gives them big skin in the game for the arbitration settlement, but also if something comes of the company after.
So far, I am the only one who has thought of life after arbitration. Mark claimed in the conference call he hasn't thought about it. I wasn't impressed.
So if Amber, Paulsen, and Tenor get their way, and EOM goes on to develop remaining properties, they get the same huge share in all that too.
If we vote option 2, we elevate our risks of a wipeout, but we'd have a chance to share in anything after the arb dust settles, assuming we win, including taking on a new property with the remainder of the proceeds. Galway Metals has recently done a couple of deals, finally, with the few millions it has left from Eike's takeover of Galway Resources...it went from 12 cents to 50 cents pretty quick when Rob bought a couple of properties here in Canada. And that pulled Galway Gold back up to 10 cents from a nickel.
I've waited for management to clarify their option 2 concerns, and they haven't. So it looks like I'll vote against option 1: unless something happens today to change my mind.
It's all or nothing, but maybe option 2 is the way to go.