RE: Calgary Gold Show DGKTrouble is that you did not obtain information because you obviously did not listen.
I first met Rick Honsinger in 1986 on a job in Nevada, where he, Allan Ambrose (Currently President of Minera Andes), Scott Bending and I were doing work on US Energy's Boss Mine property in a JV. Rick had flown in to the project from northern Ontario and below zero weather into the Clark County heat of the Sandy Valley, just one drainage over from Death Valley and the temperature was hiting over 100 degrees F.
When we were first planning on starting Formation in late 1987, my firsdt pick other than myself and Scott for the board of FCO was Rick. His spouse was concenred that we would be a number of years before we would be able to pay a pay check, so he had to pass. Scott asnd I agreed that Bill Scales and MG would make great partners and sealed the deal. We proved Rick sweaty right by not paying pay checks for the first three years of the company's existance. Rick was the first person we hired when we had the funds to pay pay.
Rick is President of FCO's Minera Tierra Nova SA de SV, has his degree from UBC in geology and is the best negotiator for drilling or service contracts I have known in my 25 years in the minerals business. He is a computer and autocad wizz and extremely organized, very tight lipped and careful of what he says.
You are asking me to believe that a guy I have known well for 20 years was sloppy and spilled significant information to you at a third rate gold show. You are also suggesting that I call Rick.
Well geeh, DGK, I call him every other week. He is one of my friends in this great journey we call life. If he is not willing to divulge certain information to me, a buddy, why is it that you think that I should think that he would be opening up with the company bottomline to you, some nut job ranting about arsenic at a trade show?
What you seem to be telling us is that you purchased Formation on its up tick after the Uranium discovery drill hole hit. Following that, the industry in general had a down turn and share prices fell. You have a paper lose.
News flash for you DGK, the shares were 18 cents a bare two years ago, so the longs on this board have a paper profit. Why are you so POed about other people making money?
And last I checked, DGK there are not parking lots full of employees at the refinery. Its not that big an operation. Its a start up, so they are bound to go through periods of shake up, down time and the rest as the customer flux changes with metals prices and they work at establishing their credentials in the competative market place.
I am sure that Rick tried to explain that to you and rather than listen, you went in POed about your paper lose, looking to come up with something to beat the company about the head and shoulders with. You problem is that you have your facts wrong, because you did not open your ears and you have the poor judgement to post to a board on which a former Director of the company gets roped into posting from time to time.
You have a couple of options DGK. You can go long the stock and wait to recoup and make a profit or accept that you made a bad timing move, cut your loses and sell. You are the one who decided to consider this a short term trade, not the company. You are the person who bought into the drill hit expeting to score big, forgetting that the history-mystery action of resource stocks is always a factor. Company management did not make the stock go up, nor can they make it go down, that is purely the market when you are looking short term. All management can do is build for the long term, including risks like starting up a refinery or developing a mine. Longs are interested in the company's long term goals and hope to see those pay off,
So if you are going to MOMO trade, DGK, try to buy the lows and sell the highs, not do what you did and get POed at the people who are not working for your short term enrichment, but the long term future of a firm. Either that or go look for some promoter scam artist to hype the heck out of some piece of dog meat with no prospects and learn to sell when his hype dries up. FCO is not a MOMO play and it does not do promoter games and is not likely to in any future I can concieve of.