Zero Hope - Nothing for 50 yearsCliffs Natural Resources CEO Lourenco Goncalves made headlines in 2014 when said he had “zero hope” that the Ring of Fire would be developed in his lifetime. In other words 50 years - “We are beyond the point of no return,” he said. At the time I thought he was blowing off steam. Now three years later - and with a do nothing Liberal budget today with absolutely nothing for the ROF - I am of the view Goncalves was right. We now have about 47 years to wait. I probably won't be around by that time. I doubt KWG will be either - or if it is then the float share will be in the 10's of billions to pay for the Executives.
However, there seems to be a new plan afoot. One that will ensure that the executives will have more security by granting to themselves preferred shares. Who needs the small retail investor? - after all they have only been the hewers of wood and drawers of water! I have been taken advantage of before by corporate pirates in other companies - this time I think we need to band together - and vote against management. The lack of transparency in this company is now becoming critical. There is too much on the line to not hold them account.
As was noted on Agoracom by howlong:
MD&A Out for Meeting - What does it mean for us?
posted on Mar 27, 2017 06:32PM
It means if you do not like what is happening at KWG sell your shares.... the share price will colapse. You can decent and they can buy your shares for peanuts with money they receive from selling a new share without voting rights.(Although, who would buy them) Maybe what we need is a majority shareholder to organize a shareholder takeover of the board. Present a separate slate of directors and fire the current board and management. I am no expert but look what is happening at Rapier Gold. Then again what is left with over a billion shares outstanding? So I say good question. What does this all mean?
Hopefully there will be some more news tomorrow?
The CSE has a minimum price for Stock options of 5 cents?
Timing is important as the board at Rapier Gold is finding out.
https://news.morningstar.com/all/canada-news-wire/20170327C1571/concerned-shareholder-announces-court-victory-for-shareholder-democracy-and-challenges-questionable-financial-decisions-by-entrenched-management-and-board-of-rapier-gold-inc.aspx