RE:RE:RE:Cost of CoreboxLRG,
It's pretty obvious that EO has not been happy with a situation where he cannot take the role of the founder, as he has for many years. From the latest Corp Presentation (Nov 2017... you should access it before it's replaced by a more up to date by the new mangement) EO gave some hint about the projection of his image:
- Slide 13 shows management, including himself, insiders and "friends" at 6% ("friends" was added when some posters/investors raised questions on his percentage, less than 1%). This item is put on the top, ahead of AEM (8%) and ES(7% plus a potential ~7% from the wts).
- Slide 15: EO was again on the top of the list for the BoD, ahead of Gundy, the Chairman.
These are small items to some people, but it would appear they are very important for others, and EO may be one of them. And, from personal experience, "founders" of companies tend to be quite passionate and emotional when they are talking about "their" companies, even if they have become public companies. Anyway, EO is not the only one...but reacting the way he did, by issuing direct statements citicizing the current BoD in public, is difficult to understand.
It's quite apparent that EO was totally against any attempt to sell the (his) company, since he will lose the control. That's why he proposed a equity financing, $20M (= half the current Market Cap) which represent a huge dilution for shareholders, but he would still sit on the saddle and control AZX for another 10 years with a good pay package, plus options, etc. No way, not on my coins.
He may be fighting a losing battle, but might as well going down fighting?
GH
PS: In his proposed BoD he has included the other 2 incumbent directors (Geis, and Patil) plus himself. But, he was fired by the current board, presumably at least one of the two, either Geis or Patil, or both, voted with Gundy, Henry and O'Connor? Anyone has any insights?
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LRGreturns4me wrote: GH, Thank you for the reply, I was being a little bit of a SA about the $5k since the cost is so low. I get the thinking and setup for PRB and would prefer anyone over ELD. I just know the mill at Sigma-Lamaque will have capacity and the ore is compatible with Lamaque, so from a project development and compatibility lens, that would make sense.
I am still wondering what was the catalyst that pushed EO to issue the NR a week ago? He had to know it was the end for him, so just what was it that got him reacting with emotion over thought?
LRG