Freeport has now Given up on Commanders 1 Active Proejct Freeport announced today that they have given up their 75% intrest at the Burn proejct. COmmander now owns 100% of a project rejected by a major after spending $4.7 million there to earn in.
SO what does commander have now? They have about $4.7 millino in cash (11-11.5 cents per share), zero active projects and an entrenched management team that nobody will with with (Commander, fireweed, Lundin) needs to be kicked out ASAP.
There is a takeup offer at .09 on Sept 8th by the largest shareholder Fruchtexpress. If that doesnt work, I will look to be involved in a procy fight to elect a new slate of directors at a special meeitng or the AGM.
Bad managers using OUR money for a do nothing lifestyle company with no active projects is about as sitation as a sharehodler can find themselves in. Lets kick these bums out beore they spend all out cash and we are left with NOTHING.