This is at least a 6 million ounce project. Let’s be totally honest with one another
This is at least a 6 million ounce project.
We are currently priced at C$243 million or 1.50 per share. Essentially our 6 million ounce project is going us a value of 243/6 = C$ 40 per ounce in the ground.
Our share price since inception has had a high of 2.23and a low of .28c. We currently trading at C$ $1.50. The stock has gone no where unless you bought below a dollar and sold at 2.23.
The company has exploded its shares outstanding from 30 million to 170 million shares outstanding. That is a 480% increase. Those shares issued have provided the management team generous compensation eg Dave Palmer has a salary of $500,000 per year. Other management are also paid well.
Management has had a very hard time attracting investors and acquirers thus the lackluster share price. The share price has been languishing and the shareholders who have provided all the money to the management and the project expect a good return for supporting them.
Management has done drilling at Novador and produced a handsome number of ounces at a low grade.
Management also appears slow walking their Detour Qubec project.
In SIX YEARS they have no selling or resource to show. Something seems ominous not having worked this valuable project. Have they pre sold it at a bargain and they can say it has no value? The value is displayed if you drill the project. Despite management saying they are working on it they have nothing to show. WHY? Remember Detour Ontario on the same system is the richest mine in Canada. Management must have an urgent need to bring the value out so it can be properly valued. Management needs to explain its slow to no performance on its Detour property.
Management is duty bound to use its resources to maximum use to bring out its value.
If we agree that we have not fulfilled our drilling potential why are we devoting ANY time to having our management dedicated to Angus Gold. Note Dave Palmer is now the Chairman and director of Angus Gold. They have also placed …….. another Probe employee to help run Angus Gold. Do they really have enough time to dedicate their energy to another company when they behind on Probes drilling.
Unfortunately this is a repeating offense as Sindwani and Langlois were also taken from Probe to Angus. They backed off when shareholders raised their concerns of them using Probes personnel for Angus. Should we be concerned?