Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

TomaGold Corp V.LOT

Alternate Symbol(s):  TOGOF

TomaGold Corporation is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. The Company is focused on consolidating the Chibougamau Mining Camp in northern Quebec. In addition to the agreements to acquire 13 properties in the camp, the Company holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake. It also owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake mining camp in Ontario through a joint venture with Evolution Mining Ltd. and New Gold Inc. The Obalski property consists of about 74 claims covering a total of 2,740 hectares (ha) and lies three kilometers (km) south of Chibougamau, Quebec.


TSXV:LOT - Post by User

Bullboard Posts
Post by INVESTING2000on Mar 04, 2017 10:05am
141 Views
Post# 25931289

Adult Supervision - Part 2

Adult Supervision - Part 2Adult Supervision is a term Rick Rule uses for the legitimate oversight of individuals and management teams that either take care of themselves ahead of shareholders and / or that make poor decisions in building shareholder value. Tomagold has incredible potential and is very undervalued at the moment. Why? Tomagold lags significantly behind other peer companies. The reason our share price is not currently over $0.30 is entirely contributed to current management and a lack of confidence in the board of directors. The compensation committee (in other words BoD) approving salary increases and bonuses and allowing other poor decisions (Red Metal acquisition), need to start answering to individuals that are placing shareholder interests and good decisions first. There have been some excellent property acquisitions, but they are then offset by poor strategic decisions like trying to buy land in Chile from a company floundering in Thunder Bay. Gold Reef Mining was another story altogether. We need a full review of salaries, options and bonuses. David collected $201,775 in 2016 and Martin $72,000. A review needs include their activities, time and actually efforts spent on Tomagold. How much time do they spend on Tomagold verses on vacation, at the movies, on other activities or out for expensive dinners. Formal oversight is needed so Tomagold gains some credibility. Perhaps everything is reasonable, but this must be verified through new members of the Board of Directors (independent members not currently associated with David and his team). Gecko is an example of a group that bought into the Tomagold opportunity but lost confidence in management and divested quickly thereafter. We need more Geckos. But like any good investor, they need to have faith in the president and BoD. Rick Rule looks for high quality partners, with a history of success and that own lots of their own stock. Unlike our BoD, he wants management invested in the company they are trying to build. We need board member that own stock and are looking for share value appreciation. These new board members need to be involved going forward if Tomagold is to reach its true potential. For those that missed it, Tomagold made it even easier for them to make changes not in the interest of shareholders: Sep. 26, 2016 - Shareholders also approved a resolution regarding the reduction of quorum for the holding of meetings of shareholders, thereby decreasing the required quorum from 20 % to 5 % of the issued voting shares. Read more at https://www.stockhouse.com/news/press-releases/2016/09/20/tomagold-reports-on-the-outcome-of-its-shareholders-meeting#BvSmIOmj5qa9sP8j.99 Lets hope some changes are forthcoming, and the true potential of Tomagold can be reached. I think if David has oversight and assistance in making the better decisions, all shareholders will benefit greatly, including the current management team.
Bullboard Posts