annual shareholder letter very disappointed with the c-suite comp. management has done absolutely nothing to create shareholder value while collecting 6-figure salaries and massive stock/option grants which is highly dilutive at these price levels. this management team is too distracted on their other ventures and have done nothing to re-rate the stock. they have not attended any conferences recently or utilized other outlets to promote the stock and story (crux, blogs etc). they filled out some NCIB paperwork but have not made any meaningful purchase.
listen i am very bullish on this stock and an owner of over 1.5% of the company. i think the stock is extremely undervalued. it should be 2 cad + but we need management focused on creating value not lining their pockets. investors are watching and taking notice.
i would like management to have and communicate a clear path to re-rating the share price. some ideas/thoughts: 1.) actually use the NCIB. 2.) file for a substantial issuer bid. 3.) dividends (less ideal b/c of tax withholding) 4.) covert Ramu ownership interest into an actual royalty 5.) refinance ramu construction debt to step up ownership 6.) get off your as#s and do some work telling the story and promote the stock. sincerely, a concerned and disappointed shareholder.
ps. you guys own enough of this stock to want the same thing. focus and make it happen.