GREY:VITFF - Post by User
Post by
dbbclbon Nov 16, 2020 10:24pm
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Post# 31912093
Re-Re: Time to hold Board/Execs accountable
Re-Re: Time to hold Board/Execs accountableBeing as Sean Roosen is CEO of Orion he has significant influence on their position as well as Osisko. If they want to make a decision with respect to the board and gather proxies to vote in their favour, they have the ability to make changes. As far as the gold in the ground being there, nobody is doubting that. In fact it is why I am still a shareholder after 8 years. However, the gold in the ground means nothing if you have inept people on a Board that cannot run the operation. Given that the exec are paid several hundred thousand dollars a year and they have not been shy in taking their stock options over the years, I would say the buck stops with them.
We have approx. $576million in hard assets as per financials along with approx $40million in cash. That totals approx. $616million. We have approx 61million shares o/s, so $10 of our market value is based solely on hard assets and cash. Tag on some value for the fact that the mine is producing, all be it at far under projections, and the market is giving us 2-3 dollars for operations. The market right now is basically saying the gold in the ground has little or no value on the share price because they have no faith in the Managements ability to recover it efficiently.