RE:RE:RE:RE:RE:RE:RE:RE:finally gave up on this todayblindpig,
You say ...
"Hi Red, I can understand the fustration of investors in fsx. I'm well aware of the issue of shares to Bryan and related parties, but that's par for the course in investing. Founders always issue themselves shares as part of the initial capitization of the company. These shares always look very cheap when compared to what others may end up paying. How did Peter Munk get so rich?. The founders of tech companies are even more "abusers" of the cheap share issue since it is less capital intensive than mining. Think Bill Gates and company, Jeff Bezos, Elon Musk. These guys are all promoters in once way or another and have obtained extreme wealth based on cheap initial shares. I don't think bad of them since we need these type of people to move society forward." Please try to post accurate information.
As far as posting legitimate criticism of a CEO, if the shoe fits wear it.
Not all companies issue insanely cheap founders share. I prefer mg't teams buy into their company's IPO at the financing price, with no cheap founders paper. Founder's shares are, and always have been a dirty secret, especially in Vancouver. And then pay themselves exhoribtant 6 figure incomes from shareholders funds out of treasury, most of the time these companies dilute the initial shareholders into oblivion or die, and eventually comeback with a new entity ... wash rinse repeat.
Lifestyle maintenance programs.
I know a company where the CEO has only paid himself $2000 per month for the past 3 1/2 years and the company is sitting on a 477 million lb molybdenum resource worth C$20 BIllion, The CEO has bought into each of the 5 financings using his own money. There were no founders shares issued, every share was bought in private placements just like their shareholders. Insanely cheap market cap for the in situ value the company holds.
The main bone of contention has been a very poor flow of news from FSX and especially LVX. I have met with Bryan in the past back in the early KNT early days, I did very well on KNT from $0.75 and traded half of that position and swung trade the other half.
;-)
His repeated use of "imminently" on more than one ocassion when promising FSX news releases was my first real red flag. "Imminent" in no way, shape or form could be considered a 6 week wait and longer.
You also mention ......
blindpig wrote: My brother was at one of their Canadian properties and left before Kirkland Lake's Fosterville property started to show it's real potential. Kirkland Lake back 5-10 years ago was a languishing $2 stock operating the Macassa Mine, which had been given up for dead by Kinross. They bought their Fosterville property for a song (how did the Australians miss that!), as a low grade open pit only to discover very high grades at depth. The rest is history. I don't have any special insight other than sometimes being close works. I did stay away from Rubicon on my brother's advice. Lol
Just like everyone else here. Hoping for some good news and also hoping that the recent 2x iincrease this year is based on something positive to come. Yes mining is a crax shoot and Kirkland Lake got "lucky" (although Canadian mine engineers are the best in the world and they probably had a good reason to believe gold could be found at depth). Macassa is the deepest gold mine in Canada and one of the deepest in the world. I guess Australian's being big iron ore open pit miners couldn't see that. Go figure! Lol Not to pump fsx managment, but mostly Canadian and have a good track record. I'm in.
Good Luck to All
As far as Kirkland Lake's Fosterville deal, you apparently have little recollection of the Newmarket Gold discovery at Fosterville after Newmarket purchased it from Crocodile Gold. I did really well with Newmarket Gold as it ran from $0.90 up to the $5.00 level before Kirkland Lake and Newmarket Gold merged in what turned out to be the equivalent of $1Billion in valiue to Newmarket shareholders (hardly a song) ...
..... BTW, the Newmarket Gold mg't team now runs Calibre Mining, producing 222,000 oz last year, looking at 250k - 275 k production oz this year and drilling programs of 80,000 to 100,000 meters total for Nicaragua and Nevada operations, and could be potentially sitting on a new multi million ounce gold discovery at their Gold Rock property in Nevada. Constant flow of news from CXB. Easy to contact and communicate with their mg't team, unlike FSX and Bryan, who couldn't even bother to take the time last year to meet with retail investors at PDAC in June.
Bryan has always had a little of the prromotional aspect in him, not overly, and it is required in the exploration side of the resource sector, and you get used to it after attending PDAC for more than 40 years (so I wouldn't include myself as a "green" investor) My first big hit was in 1979 early1980 with Campbell Red Lake, from $17.00 to $96.00 when I sold, and it then went up to $144 and split 4 for 1 before Placer Dome bought it out. ... were you around back then then blindpig ?
Wish you all the best here blindpig and the rest of the shareholders, but Bryan has shown his true colours recently over on the CEO.ca message boards, throwing a threantening wager at a retail investor in an attempt to silence criticism of FSX's dismal news flow and founders shares. Sort of shows the character of Bryan trying to intimidate a shareholder with a large bet which most regular folks couldn't afford.
Just my two cents worth
GLTA !