FearFolks seem to have a fear of Titan. As if they are these amazingly clever, ruthless, and bigtime shakers. When I look at it I see something quite different.
First let's consider the principal players: Carr, Rowley and Marsland.
Carr really is a nobody. Before he got involved with Titan he was a real estate developer in Perth. I went to page 10 on Goggle and discovered that a Matthew Carr played for trhe Trail Smoke Eaters for a few years in the '90s; and a number of Matthew Carr's have died, but unfortunately ( I know this is mean) none seem to fit the discription of 'our 'Matthew Carr. So selling real estate, and running Titan, with a break running the infamous Andina when Titan's predecessor ,Minera,went 'bankrupt' , temporarily, which you can do in Australia. So yeah, if you are afraid of being posioned, which we all should be,then for sure don't turn your back to Carr.
Marsland has been around awhile. He did the usual kind of corporate stuff, and reached the top of his career as CEO of Dundee Precious Metals. As Tad informed us awhile back, Dundee didn't appreciate his style of corporate management and they fired him and then sued him for breach of fiduciary duty, and misappropriation - in shorter words that would be theft, stealing etc. And now he has settled into his job at Titan where his talents will be more appreciated.
And Rowley has been a securites salesman all his life. And to be truthful, I am just to lazy to check on how that has gone, and how it has gone for his customers.
For the three of them,Titan is the culmination of their careers. How would you like that to be said about you? We have talked about this many times, sorry, but Titan One was Mundo , and it was a toll mill play in Brazil. All the official reports are gone, but going to page 10 on Goggle reveals that it seems they were actually serious about trying to make it work , but it was a comedy of bad managment, terrible judgement,etc.. They definitely bought 'sows ears' type property, and spent millions,of others money, trying to make something ? In the end they couldn't sell any of it for anything as all the locals knew from the start it was worthless. They probably sunk something like $75 million of investors and creditors money into it, and sure, pocketed nice fees for themselves, but it seems one could make alot more by building something of value.
Minera was Titan Two, and pretty much a repeat of Titan One. And here I shake my head at what the investors and creditors were thinking. Sure the words were sweet, but swamp land is swamp land. Here it is pretty obvious that they didn't figure that they could ever make anything of the run down San Santiago toll mill. But they were perfecting their writing skills , like claiming a total stranger as their CEO. And again , if they had any buisiness skills wouldn't it have made more sense to actually build something of value, which many have done in South America with the same amount of money, rather than just skimming a little (or not so little) from the big losses.
And now we have Titan Three. So far they (someone) has put $23 million ,is what they show to date, into Titan Three. And what do they have? Well, they have about 10 million shares of Core, but that's kinda like buying a flashy new car with zero down and driving around like you own it. At this moment they owe $4 m on those shares which are worth $2.4 m. And sure maybe someday they will make out ok with those shares, when a real company makes some sort of deal with Core and the share price goes to something more comensurate with Core's value; but then again if the loaners of that money get tired of waiting they could just want the shares , not trusting that Titan is going to last long enough to ever pay off the loan. And other than that let's see , what does Titan 'own'? With Titan you can never be quite sure what they own and what they 'own'. Well, according to my figuring , they own the Vista Mill. At least for now, and I await the news that the Peruvian authorities have put together their case against Titan and Andina , and are moving on things. And that folks is the total of what they have. They don't have an office, so no office furniture. I guess their would be some laptops, but those are probably personal.
So if you, as a Core shareholder, have a fear of Titan becasue of their past successes , I would say you have nothing to fear in that regard.
But if you fear them, as you would fear, say , a totally wasted methhead who has moved into your neighborhood and are beefing up the security systems on your house, then yes, that is probably wise. Titan might have not learned anything about how to run a buisiness, manage money etc. ,even after spending around $150 million; but theft would be another matter. They seem to have some natural abilities in that regard.