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Bullboard - Stock Discussion Forum Novadx Ventures Corp NDXFF

"NovaDx Ventures Corp is a mining company engaged in the exploration, development and recovery of coal. The company's operations are principally directed towards the Rex No."

GREY:NDXFF - Post Discussion

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Post by scott1taylor on Nov 01, 2010 1:43pm

AGM

First off thanks to everyone who submitted their votes. Unfortunately the issue rested with a few key people who did not take the care to fill in the forms correctly, or in the case of 3 (within the alloted time). There was a 44% turnout which represented approximately 26 million in shares.
With respect to the News Release let's talk facts:
the "management" team got votes from Neil MacDonald @ ~10 million shares; the aggregate of the Board ~3 million shares and for Randy Peterson @ Cannacord. The simple fact is that they had enough votes to win. 
There was no groundbreaking news:
The production issues "are being worked on"
The financing is "being worked on"
There was one bright part of the day, however, as one of the new Board members Eric Molnar was responsive and appeared sincerely engaged and committed to turning the ship around. 
The key issues remain unanswered - I will hang on for a little while longer and pray this lot can finally execute something.
Comment by dontknowmuch on Nov 01, 2010 2:06pm
Thank you again Scott for your efforts.Unfortunate that such a simple task as completing a proxy proved to be so difficult for some.
Comment by rojo1 on Nov 01, 2010 8:52pm
Thank You ScottI apprieciate your time and effort with this.
Comment by LaurinDE on Nov 02, 2010 2:57am
@Jim & Scott: thanks for trying!Greetz from Germany - Laurin
Comment by lettern on Nov 02, 2010 9:54am
that goes for me as well!Letter
Comment by LaurinDE on Nov 09, 2010 4:12am
To those who had been present at the AGM!I understand that management was/is backed by Cannacord (why?), but did noone ask serious questions?What did management reply when asked:- why are no production numbers for Rosa Mine published?- what is current production at Rosa Mine?- are the announced acquisitions still on the table?just to list a few questions...cheers - Laurin
Comment by scott1taylor on Nov 09, 2010 11:03am
Laurin,Good questions: here are some somewhat poor answers. I wish we had taped the conference room as we really tried to squeeze these types of answers out.Cannacord, specifically a couple brokers there have made a nice living by doing the following, Buying undervalued PP's by selling into the market just as Neil is trying to close. This washing machine type dilutive financing makes Peterson ...more  
Comment by jimrockford on Nov 09, 2010 2:45pm
Laurin, I couldn't make the AGM, but got a run-down on it and its aftermath from a good number of people. I should have a blog on it out tomorrow or Thurs with some detail. I will say now, though, that there is hope, as there is leverage availabe that can help save Neil and the BOD from their own hubris and ignorance - and shareholders in turn. The estimable Scott Taylor is key to ...more  
Comment by scott1taylor on Nov 09, 2010 5:23pm
You know what boils my blood is that my partner in Lombardia just closed a huge 8 million forward deal in COLOMBIA. The terms specifically addressed a market inefficiency in transportation and shipping. Too bad there is no interest for us to help here.:0(