RE:Points to Ponder You make a good case concerning dilution, but one has to consider that Energizer Resources is a development stage company.
I am not defending the share dilution, but markets have changed considerably over the past several years. As a result Energizer went from Uranium, to Vanadium and is presently a Graphite developer, all of which have added to costs and the dilution problem. I feel that Energizer's battery grade vanadium along with its various forms of graphite could be positives.
Shareholders are faced with decisions and that the proposed Reverse Split, the Name Change and Stock Option Plan should definitely be voted against. I will vote against some of the director's, but their lack of purchased equity is not important to me.
At this stage I am going to go along with the Phased Development Plan based on the FEED study and if it falters, I'll likely get out.