RE:RE:RE:RE:RE:The AGM? Hello LME folks!
Someone mentioned that I'm a CFA, to be clear I am not. I have piles of securities licenses and 25 years in IIROC/CIRO but never took the CFA route.
On the AGM, I want to impress upon everyone how procedural and red tape heavy that process is. I thought it was pretty much setting up a Zoom meeting before I got a look at how prepping for one actually works. There's a ton of paperwork that eventually culminates in what's called an Information Circular. This goes to the Exchange and once approved it can then go to shareholders in exactly that form.
If a public company thought there was material information to share it would not depend on trying to time up that news to mesh with an AGM or any other kind of meeting that was already required to be in the calendar. If LME receives and offer and the Board and CEO approve the offer it would then need to be disclosed to shareholders. The fact that this disclosure hasn't occured means that process has not been executed. There won't be any playing in the margins to kill 2 birds with one stone around AGM timing.
The clock for submitting the AGM material is definitely ticking but as I've posted before, don't think of any meeting as early or late. There's alot of work being done every day on the Ishkoday and the AGM is ongoing in terms of prep but the field team does have to make hay while the sun is shining. With the aerial survey there's alot of leads for prospecting and purusing those is the top geological priority at the moment. The AGM will get hosted in the window it needs to be but don't tie that meeting to a transaction in a positive or a negative way.
If there's news in terms of disposition it will be sent to shareholders independently of any other piece of news, including the AGM. I would expect the AGM to follow a similar format to previous years. There have been some tech issues in the past meetings so the team is working hard to ensure those aren't repeated as well.
Bottom line : don't tie your expectations of fabulous news to the AGM and don't fret if the AGM is just an AGM. Great news will stand alone and that is very normal and appropriate. Could come today, tomorrow, the day before the AGM, the week after the AGM etc.... you get the picture. The day that news is required to be delivered you can bet Cynthia and team will do what they always do and follow the procedure to disclose it to the letter.
Alot of reason for excitement and enthusiasm. I've always thought that LME's market value didn't properly reflect it's downside risk. I don't see much if any risk in the buy side of this stock at this price and the past few sessions have begun to right that ship. We should all feel great to be shareholders of this company.
Hope that helps,
Steve