RE:RE:guys enought with the dramaThere is some truth in this. However, it would only happen under cases of severe mismanagement of a company, or a company management acting incredibly inappropriately. In my view, it is better to deal with this publicly as it is a public company. All honest, all above board. Keeping everything under wraps and hidden away from view does what? Would you prefer to invest in a stock in which nothing appears to be wrong, and you think, hey this is great, and you then buy stock, only to realise later that there are severe problems behind the scenes and no one talks about it publicly because they do not want to lose out. Sounds like a Ponzi scheme. Well, that kind of happened to me, I did not know about the royalty before buying this stock, and I assumed the CEO would retire. I can tell you, if I had known I wouldn't have purchased it. I have been pushing for solutions to the royalty since I became aware of it.
If publicy criticising a company depresses the share price by warding off new investors, then publicly fixing these things brings confidence to the market. In other words, the public nature of this brings honesty and confidence to the stock, and new investors can be assured they are buying with less risk because the problems of the company publicly aired have been publicly dealt with. I would expect a solution to the royalty issue, and a new management would be incredibly positive for the long term share price of Abcourt Mines.
So, what do you want? A vigorous community that actually care about the running of this company publicly debating and putting pressure on management, or do you want a stock in which everyone only says good things, so you can feel safe even if you aren't actually safe. Because that is more or less how things used to be before the issue about the royalty became known. If the AGM had been performing its proper function to hold the Abcourt Management to account for its performance and strategy then what else would there be to say on this board? The fact is that has not been happening. It must be around 7 years after the royalty issue first became aired, the share holders are still none the wiser about it. The AGM is simply not performing its proper function if that is the case. And unfortunately, it is the case.
The royalty is a big issue that would cause conflicts of interest in choosing which mine to open, which parts of the land to explore for future mining, and which parts of the mine to currently exploit, and, of course, allow a very small group of people to make a lot of money whilst everyone else paid for a company with production costs almost double what forward looking statements projected, and a company that took far longer to achieve its targets than it had projected. Is it a conflict of interest to lowball the production costs in order to get investors to invest in a mine you know only you can profit from? Is it proper that Abcourt Mines pays for the exploration of Elder when the Hinse family can profit from this exploration directly in the value of their royalty? So, Hinse as CEO instructs Abcourt Mines to pay for exploration of the Elder property, which directly benefits the Hinse family through Decochib, who don't contribute to the exploration costs. Totally unethical and unprofessional.
The situation at Abcourt also would encourage avoiding development of Barvue. The longer Barvue sits idle the better, the more money can be acquired by the owners of the royalty, and the easier it would be to engage in passive price manipulation in the form of performance suppression in order to keep share price low with the ultimate aim of taking over the company and getting Barvue as a freebee. Does anyone here believe that if the royalty had been for Barvue instead of Elder, that Barvue would be idle now? Of course not, they would all believe that Barvue would be fast tracked to production because the CEO would have a royalty of Barvue to make money from.
Solve the issues of the royalty and the management, and this stock doesn't have much downside at all. This company is a slam dunk opportunity for a young and ambitious CEO without a conflict of interest to make a name in the Mining Industry by making a lot of money for the shareholders here. There is your positive side, and why I still hold shares all these years after hearing about the conflict of interest. There is real money to be made in this stock if the boil can be lanced. This is something also now publicly known. Good thing or bad thing? I guess that depends on your perspective.