Sometimes it takes time to identify the major issue!
In this case it is the FACT that the NEVADA COPPER BOARD is effectively CONTROLLED by PALA people:
I picked up on this point in reading comments from an outside organization commenting on NCU! where it was noted that the BOARD is not INDEPENDENT!
1. The Board chair is Stephen Gill who is described as " a," "the" or one of 3 "Managing Partners" at PALA.
2. Vlad's son Eve Lorich is on the Board. Given his education there is a question if working for his dad at PALA is what he really wants to do?
3. A British lady Kate Southwell with legal training working at PALA meets the required quota of having a gender diverse board.
4. Michael Brown was a PALA employee who appears to now be semi retired however is he really independent?
5.Tom Albanese a very experienced mining executive is the lead INDEPENDENT director.
6. Ernie Nutter is a well respected investment veteran and while having studied geology it doesn't appear that he is a "mining operations" person. The man does have connections and knows the investment side of mining.
7.Lucia Genoese is shown as an independent however the fact that he is a resident of Switzerland does make me ask =independent by law or in fact?
The fact that the Board makeup was raised as a key issue caught my attention and made me ask the Question =why isnt the man with the most experience (Tom Albanese)the Chair of The Board of Directors????
Now when you add in the uncertain issue of MANAGING PARTNERS some lights come on!
More lights come on when looks at the PALA website where NEVADA COPPER isn't mentioned.
Further the PALA WEBSITE has a very strange layout of everything but mining and where the one person who studied geology is described as working in/with "cross asset" ??
Now one can draw different conclusions from all these various pieces,however, my take is that the GOVERNANCE STRUCTURE where the much less experienced PALA employees are in charge is a fundamental flaw! = which clearly is indicated by the confusion, with various CEO's, the inability to do any forecasting, to communicate the full truth has driven this stock down well below it's expected trading price. PALA is a NEGATIVE factor!
A shakeup starting with the Board of Directors is needed and it will benefit Vlad and us =the retail shareholders!
Comments!
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