Alexandria Minerals Corp ALXDF

Ask Me Anything - Eric Owens

[EricOwensFG]

Good afternoon, 
 

Thank you for joining the Ask Me Anything session, and providing me the opportunity to set the record straight and be transparent with fellow shareholders. Please use this thread to pose any questions you may have – I will be going live at 1pm.

 

For those of you that don’t know, I am Eric Owens, I am a shareholder, founder, director and former CEO of Alexandria Minerals. I am also a member of the Founder’s Group of dissident shareholders who have requisitioned a shareholder meeting to remove three board members who we believe are disrespecting shareholder value for self-interested motives. 

 

Today’s session is meant to provide as much clarity as possible, but I cannot reveal any material that is not already in the public domain without getting into trouble, so I will not do that. I will do my best to demonstrate to you that I do in fact have the best interest of shareholders in mind. I will do my best to offer answers to every question posted on this forum within the next 60 minutes. That being said, if I do not get to your question, I encourage you to email it to me at [e-mail]. Additionally, if this proves useful, I will be on the forum more regularly, speaking to shareholders and clarifying any confusion that may exist. 

 

With that, I ask that you remain respectful to both myself and your fellow shareholders. I also ask that you take a few minutes to familiarize yourself with the information circular, which can be found here: https://static1.squarespace.com/static/5ae35192f8370aa92a7851e5/t/5afad89970a6ad25e69f01af/1526388890301/Information+Circular834AM.pdf

[EricOwensFG]

We are live! Please post your questions as replies to this thread.

[mikenooks]

This post has been removed in accordance with Community Policy

[EricOwensFG]

@mikenooks Q: How can you be trusted to deliver shareholder value when you have not done so over the past decade? A: I am the founder of the Company and also a fellow shareholder. As such, my family and I have a significant personal stake in this venture. I have always been dedicated to ensuring the company is succeeding, and shareholders are receiving the best return on their investment. The

[nuggetin]

Who is funding the Founders Group and what are your approximate costs to date.

[EricOwensFG]

@nuggetin Q: Who is funding the Founders Group and what are your approximate costs to date. A: The Founder’s Group is a group of concerned shareholders of Alexandria Minerals committed to pursuing my superior vision for the company. This shareholder group is privately funding this work out of faith that it is the best way to grow the value of their shares. We are doing this because we think

[KingOfAlpha]

did not see reponse about Sprott - who is he supporting? board? Opine

[Goodbadandugly]

Good afternoon Eric Owens A big part of my decision to invest in Alexandria has been because Agnico Eagle was confident enough and supportive to provided funding in the past.  My questions in regards to AEM are:   1.) Do you and your proposed team have the support of AEM at the upcoming          Special Meeting?  How would we know for sure what they

[InvestMinute24]

Question for EO on top of this - AZX says they have the support of AEM and now so do you - doesnt add up...2. who has the support of Eric Sprott? 

[EricOwensFG]

@InvestMinute24 Q: AZX says they have the support of AEM and now so do you - doesnt add up… A: As mentioned previously, I have a long positive relationship with AEM and trust that they are remaining educated through this process and will make a decision which best supports shareholder value.   Q: Who has the support of Eric Sprott? A: Mr. Sprott has not publicly supported either

[EricOwensFG]

Q: Do you and your proposed team have the support of AEM at the upcoming Special Meeting?  How would we know for sure what they will be voting when the current board of directors at Azx are saying that AEM will vote for them? A: Agnico Eagle have always maintained that they like what we have done and that they want to continue to see value built through exploration as we have done. As

[nuggetin]

So AEM has not confirmed their commitment.

[goldhunter11]

Eric, I noticed that in your first set of answers you did not give a clear cut answer. You could address that that further when you look at my sets of questions. - AEM: Your remark: "I believe they will continue to support these activities" does not say that they have throw their support, i.e. casting their 8%OS at the Special Meeting. - Pleas confirm that all the money in the financing

[EricOwensFG]

@goldhunter11 Q: Support from AEM: You (EO) have been telling people on the phone and in various meetings that he has the support of AEM and a few other major shareholders. Can you repeat that claim in this forum that he has the confidence and full support from AEM (8%OS). How much support in total he has now from shareholders? A: It is not my place to speak to the position of Agnico

[DivorcedDad40]

EO... your response is missing the first part of the qquestion... how much was dan goin to make? Q: Dan Palikrousis (brother of Mary Vorvis, former VP of AZX): How much commission he would make from the ~$20M PP that was arranged without the approval of the current BoD. Is this entire financing arrangement still in force, or has it fallen apart? It has been reported that (by the current

[EricOwensFG]

@DivorcedDad40 How much was Dan goin to make? No cash payment was ever contemplated for Dan. The options proposed were in line with industry standard.  

[DivorcedDad40]

What would the industry standard be for a $20m offering? What would the options have been priced at? Was he sole the broker? 

[FitzTheCat]

Q:  Will you please tell us what your plan is for AZX for the next 3 to 5 Years?

[EricOwensFG]

@FitzTheCat   Q: Will you please tell us what your plan is for AZX for the next 3 to 5 Years? A: The plan is to restart the drill program and continue to do this until we build substantial gold resources that will lead to a sale of the company much larger value than what it is currently at. You can read more about my plan at: www.votefoundersgroup.ca

[EricOwensFG]

@MGRVSAZX Q: If the current BOD do not go further in drilling expension programm and try to sell the company right now and as is , what do you think it's the fair value right now? A: Considering that our next-door neighbour Integra Gold sold for $590 million in 2017 only after implementing a proper drilling program that allowed them to realize the value of the company. To sell today

[EricOwensFG]

@divorceddad40   Q: I’ve been a long term shareholder, how come i wasn’t offered an opportunity to participate in the equity offering? were you willing to dilute long term shareholders w/o the option of participating? A: If I had known you were interested, we would have been happy to have you participate - let’s find a way to be in touch: [e-mail]  

[EricOwensFG]

@JackRo Q: Were you going to spend the $20m continuing the same drill program that turned out to be ineffective? A: I disagree that these efforts are ineffective. As per current management’s last news release, we can see that there are instructive results for the property. The current management sought to make the resource estimate look like bad news. The truth couldn’t be more different, the

[FitzTheCat]

Did current management really withhold 25% of the drilling results from the Resource estimate?

[EricOwensFG]

@PizzamanforAu Q: If you TRULY are an open book, would you forego salary and put MORE of your skin in the game based on ounces of gold in the ground?  To be blunt, would you forego salary/options/expenses to prove your theory about how much gold is contained on the property? A: I can assure you that my personal equity, as a shareholder, founder, and former executive is invested into

[EricOwensFG]

@easycoder Q: If your financing had proceeded, how many fully diluted shares (without considering a reverse split) would you estimate we would have out? I've seen 55% dilution mentioned but that seems to be on the low side. Would you guess 1.1 billion shares and warrants? A: A financing which adds half as many shares as existing today results in a dilution of 33%. Selling the

[mikenooks]

This post has been removed in accordance with Community Policy

[nuggetin]

Nebulous indeed as all. In context. we need to realise his lawyer(s) and financial types were helping EO during process to prepare in vetting all the answers to ensure maximun saleability with no liability. Methinks if he continues it will be cup in hand for him corner Bloor and Bay.

[EricOwensFG]

@nuggetin Q: While in charge over the yrs your overhead burn exceeded the average industry rate. As example, as an organization design consultant, I found it highly inappropriate for a very junior exploration company to have a VP of Corporate Development. This role did nothing to enhance shareholder value as expected but Mary Voirvois was over paid over 200 000 plus per yr for years. Why was

[EricOwensFG]

@JayReiSmith Q: From what I can tell, under your leadership. Stock price hoverd at $0.05. Please explain this. Also, you spent so much money on things like IR and Marketing, and what not. None of this money is showing well on our shareholder returns. Under your leadership we got nowhere. Why would we want you back? A: I am dedicated to seeing a return on this property. I have been working

[FitzTheCat]

I understand that current management sold an asset recently to pay some bills I presume.  Was this done with Board approval and are there minutes to support this action?

[nuggetin]

Also Eric, when you left you left AZX net payables of 1.5 million .Correct

[EricOwensFG]

@FitzTheCat Q: I understand that current management sold an asset recently to pay some bills I presume.  Was this done with Board approval and are there minutes to support this action?   A: There was no board meeting called to approve this.   Q: Did current management really withhold 25% of the drilling results from the Resource estimate?   A: Yes it is true

[RockBottomBuy]

When will I get your proxy. My shredder is getting hungry