RE:RE:RE:RE:No bashers on the call... must be hiding injdn55 wrote: Foundryman,
Your comments on Bharti are legit. His rep on the street for gorging at the trough is well known. He's had more bad deals then good ones. If you're as knowledgable on the junior markets as you state you'll know most of these guys like Bharti do and there has been many others like Bharti out there. You clearly have an axe to grind with him and that's fair except why are you bringing it to this BB if you're not an AGG shareholder?
Because I'm trying to bring light to how unethically this lot operates. I've seen some shady individuals and companies in this space, for sure. None are as brazen about screwing shareholders as this lot. Management deserves the scorn, and the only discussions they're worthy of are ones centered around how much they're spending. Excessive compensation has done far more damage to the companies they run vs. resources not living up to the hype.
Where you also confuse me is when you make statements on Bharti's other deals like all gains on profitable transactions went into directors or managers pockets. If in fact that is the case then potentially that is a crime. Shareholders wouldn't gain from those types of transactions regardless unless there is a a gain in the share price of the company in question and as a result of the said gain you divest your position.
Yes, I have concrete examples of big gains being recognized and shareholders getting zero. Verify it for your yourself if you don't believe me. Is it criminal? Probably not. Because they "invested" that money, you see. Who would have thought that investing it in an affiliated party that spends a quarter of its market cap every fiscal quarter in compensation would drain the funds so quickly? I would bet they spend a ton of money and resources trying to figure out how badly they can screw shareholders without crossing that line into "illegal" territory. They publicly lied to Belo Sun shareholders (https://incakolanews.blogspot.com/2019/09/belo-sun-bsxto-now-open-to-criminal.html) about surface rights, so one would reckon there are even more nefarious activities occuring behind closed door.
With all that said Bharti has had some big wins as well. I don't think you will hear Consolidated Thompson or Avion shareholders complaining too much.
True, to the best of my knowledge shareholders actually benefitted in those instances. I do think some of the claims about percentage gains advertised are exaggerated (i.e. how many investors actually participated in those early seed rounds)? But I'll concede that these are wins.
The fact of the matter is regarding AGG, it would be dead in the water if Bharti and his cronies hadn't stepped in. While the previous management group made mistakes I don't believe they were bad managers as Trekie has asserted. They got Kobada through to a FS in extraordinarily difficult market conditions which frankly still exist today. They simply ran out of options and couldn't raise any more money.
Agree on all fronts. Sort of backs up my points, though, that a junior literally has to have no other options in order to do some business with F&M. I.e. they're the proverbial "last resort."
Bharti knows West Africa and he likes Kobada. I've been in since the beginning and I like Kobada too. I'm on the record as stating it will have a resource well north of 5MM oz eventually. I like the team Bharti has recently assembled as well. If Kobada is as good as I think it is and Bharti thinks it is he's going to have a good asset to work. That's a huge part of the equation to enhancing shareholder value. At the end of the day the asset is what always will tell the tale assuming it's in a country where it can be exploited. Yes Mali has stability issues but the French are there to backstop things and the US is close by as well. Mali is mining friendly.
5MM ounces is a possibility, this is the speculative element of the business. No qualms with anything here.
Let's see if Bharti can raise that $5MM. That's a big test. If he succeeds it's game on again and that's a lot better position then where us long time shareholders were in back in 2015.
Time will tell.
And yes, todays call was PR excercise. I hope there is a lot more of that. Idiots like Treetroll are too stupid to understand that promotion/PR area a big part of the game in the junior mining space. In Treetroll's alternate universe AGG should have died 6 or 7 years ago. Treetroll and Emperor Trump are kind of like 2 peas in a pod. They open their mouthes but nothing intelligent ever comes out.
I can't speek for Treetop, but I think its assumed that management is always going to be optimistic regarding their prospects. I mean, if they don't believe in the asset, who will? I'm not one that would complain about overly promotional teams, thats part of the game. I do, have a problem with deeply immoral management team that shears shareholders, plays a host of ethically dubious games, and even publicly lies when its convenient. That is not the same thing.