RE:RE:RE:CompensationHappyInvesting wrote: All sounds good there WMG, but where exactly did Davis and the board fail in their fiduciary duty? Nobody can preduct commodity price movements, nobody can predict if there will be any issues in copper or zinc recoveries, nobody can predict market sell-offs, etc. They can't be held responsible for any of these, and That's why all mining companies have pages of "risk factors" listed. Rather, Davis was instrumental in acquiriing Timok, something that we know is worth at least US$1.5B, and hopefully much more when they announce the updated PEA, especially if the LZ is factored in. Davis owns well in excess of 2 million shares. Do you think he is happy that the share price has fallen from over C$4 to $2.63??? If there was a way to have enhanced the value of the shares, I'm sure he would have done so - for his own personal financial interest. I'm sure he's sitting tight, holding his shares for a while longer, until the full potential of Timok is known.
I
Happy,
I am not going to sugarcoat the fact that Davis failed us miserably. His reckless spending has wiped out at least 1 to 2 US$/share via the mishandling of the Reservoir deal.
Why would NSU need to pay extra money (for Reservoir) when NSU could have just walked away from the deal and still be left holding 20% of Reservoir through the transactions to attain the ROFO. Do you believe he was acting in the best interest of the NSU shareholders or the Reservoir shareholders?
Then there is was the metallurgical issues at Bisha. The issues where known for some time (at least 2015); however, through the lack of proper (Engineering) study / drilling (and following CIM 43-101) they forged ahead with a zinc expansion project which was dubbed to be "on time" and
under budget. Do you believe he was acting in the best interest of the NSU shareholders to leave that much risk in NSU's only producing operation.
Quinto5 wrote: .... I believe senior management's incompetence is finally showing. How can a world class deposit lose money?
A monkey can run a world class deposit and make money, but it takes bad management and ignorance to generate loses. This stock will be in the penalty box until things are made right.