RE:RE:RE:NEW FocusIf they are contemplating selling the company, I would recommend that they hire a consultant who specializes in Mergers and Acquisitions. The news should be released before the Annual Meeting of Shareholders to be held in May 2020.
I know that "Cash is King" in this environment so any deal would lean towards share exchange. With the price of gold rising it would be an ideal time to bite the bullet!! At least this BOD would be recognized for putting the shareholders interest ahead of their own greed.
I look at the pedigrees of these Executive Board Members with all their experience and It's hard to comprehend why and how they let IAG/IMG go down the drain? The only reason I can come up with is that they were enticed by the excecutive salaries, bonuses,share allotments and God knows what other renumeration they received! They did all kinds of financial dealings to raise cash and show a strong balance sheet. Played the foreign exchange game, locked in fuel prices, cut dividents at the expense of shareholders interest, sold forward 150,000 ozs. of gold in a rising gold market and these are just some of the eronneous executive decisions that were made. And this was all done to make the balance sheet strong and to cover their excessive remuneration packages. As one person asked me, "How come they had one of the highest cost /ton in the mining industry?" One of the main reasons, was the high overhead costs at the Head Office. This was crippling for the average shareholder and the companies bottom line.
The overall objective should have been to produce a profit for the company and control costs so all the shareholders could have enjoyed a return on their investments. Not just a few at the top! I'm sorry shareholders but we got fleeced!