RE:FYI...spoke with Katie at the company...Metalhead,
Thank you for your post - but with all due respect, you not talking for me (and I should think a number of others) with this interaction with Katie. It was beyond her station to comment - and it is a bit unfair to simply report your personal rant with someone who could not respond by making it sound like you were speaking for us all - which is simply not true.
Personally, I believe Walter (and Randy) do have a plan. At the moment, the economics of SKE are in no way hampered by this situation - so it either is or is not an issue. On the flip side, the claim-holder, Mills, will never get the opportunity to benefit (but should be liable for at least the costs of maintenance). It is what we used to call a Mexican Standoff.
Time is not of the essence here, SKE has plenty of irons in the fire - with, increasingly, none of it dependent on a speedy resolution to this questtion. Mills has an eroding position in terms of the value he may be seeking to gouge out of the company. Let the company pursue their course of action - and let him stew.
Read again what you wrote in the latter part of your post...flip the situation around...starts to look like extortion to me!
Let the company pursue their course - which, even after the Appeal, may be to do absolutely nothing. There is, as you can see, no rush - as the company is not as dependent on a having a resolution in the immediate future as you seem to desire.
best wishes,
el d
metalhead666 wrote: I made it clear that I am not happy with this latest mis-step. She is not the person to speak to on this matter so I'm trying to contact Walter or the BOD directly.
Basically she said that an appeal was in the interest of all mining co's in BC as it (the judgement) sets a bad prescident. I explained to her that the company was perfectly welcome to pursue reforming Crown mining law on their own time with their own funds but that shareholders have no interest in taking some moral or ethical stand. I explained to her clearly that a resolution to this asap is ONLY in the company's and shareholders best interest as part of something is better than nothing. I explained that ANY resolution that put those ounces on our balance sheet makes future dilution less of an issue. I asked if Mr Mills had ever put a number out there and she either couldn't or wouldn't say. Doesn't matter....there's 300 million $$$ just sitting there waiting to be scooped up. If they gave Mills a check for 50 million we'd still be getting $250 million worth of gold. If they gave him a royalty stream...so what? We get hundreds of millions in additional value instantly added to our market cap.....All seemed to not really register with her. She said she would pass along my complaint.
In short this seems like some holy mission to prove a point and undo the law rather than doing the arithmetic and keeping this strictly a business decision. Now it will be months and they will get an appeals court ruling exactly as they got today. It was worth a shot to instigate the 1st court case but an appeal is just the definition of insanity. There is and will not be any new information. An appelate judgement will be the same as this one.
We have NO claim to all the goodies in the lake. It belongs to Mr Mills end of story. It can sit there forever if they are both hard headed about this or Mr Mills can be a multi millionaire and we can have hundreds of millions instantly added to our market cap.
I do not want to be complaining all the time but this really casts doubt on managements ability to navigate issues. There is one and only one resolution....write Mr Mills a big fat check in one form or another and get on with it. You don't need to be a blood sucking lawyer to understand this. It's over. Cut the check.
Maybe some of you will have more persuasive ability that I do. The company clearly cares more about the industry and what this ruling implies for the future than they do about getting 100s of millions added to our market cap with the stroke of a pen.