RE:CEOs not disclosing offers to shareholders, youtube video Learningful video. B2Gold CEO does not seem to be a shark like so many others that are milking junior companies. Mr. Johnson is saying that management not disclosing buying offers are not serving in the shareholders' best interests. Since you think that ANX got some buying offers longagau, does it mean Kevin and the other directors are not serving us well? Or perhaps these bids were not serious enough to bother? I mean if they were serious, they would have make an hostile bid, right?
The line is thin between "hiding information" and "setting a base line for further discussions". For ANX, we all know that we are way undervalued compared to other companies. So a buying offer at 40% premium at current level is certainly not a good thing for us, or so that's what management thinks. If it's the case, I kind of agree with them as the majority of shareholders are retails currently and lots of them have bought below 40 cents. So a juicy offer at $1.20 could be interesting for them. That's one of the reason they want to bring more institutions into play IMO, and that is for the best interest of shareholders. So we can debate what is "best interests": Disclosing a low ball offer to shareholders or prepare the ground for a more serious bid later (including Tilt Cove and Dolliver Mountain as you say)?
Anyway, I always thought B2BGold would be a serious runner for ANX because of Kevin's history with them. But I do not know if that will constitute a conflict of interest having Kevin sitting on both sides. I guess he could be a facilitator and he will withdraw himself from voting if that happens. I do not think that B2BGold made an offer to ANX yet. We could have an offer from them ater someone else do a move for a bid. And then you might have the bidding war you are talking about and B2BGold will be seen as the white knight.
In the video, Mr Johnson says that their strategy is to attract talents inside their board when they do an acquisition and seeing that Kevin is still part of B2BGold's board says a lot. He is also saying that they are mostly looking at companies with good projects but bad management. I do not think our current management fit in that category. Anyway, Mr Johnson said that he will put pressure on these management groups and "will be naming names pretty soon" if they are still keeping it for themselves.