Post by
fb454 on Nov 17, 2019 7:36pm
ALO market position;
Hi everyone. I haven`t posted in about a year but I still follow this stock. What a shame of what they`ve done to this company. I wonder if they changed their way of doing business and respecting stockholders. When Greg M. took over I emailed him multiple times and tried calling him many times. He never responded. I called the H.R. person and she told me he doesn`t speak to stockholders. Fine with me. I sold my stock over the course of 2 weeks. I see the stock never recovered from his mismanagement. He hired too many people that were not needed; including 1 consultant after another. I guess they didn`t know what to do either. If anyone understands mining even a little bit; you could look at the maps and see that getting Anna Paula going was their best avenue. Even when gold was down at 1150, all in costs at A.P. are 500 per ounce. They even had a plant already in place that the original founder left them. If they weren`t sure of what to do I suggested to them at the time to get a JV partner who`s done this before. They have been inept since they forced out the original founders. They even raised the money for A.P. and blew it on consultants and other useless hires. 80 million dollars out the window. Could of mined with that. I guess no one has the ability to hold them accountable. Major stockholders can vote them all out but nothing doing. The board is made up of officers of other miners. Probably just waiting for the company to fail and then buy them on the cheap. Their fiduciary responsibilty is to help Alio be a success. They are negligent. I am glad the name isn`t Timmins Gold anymore. It was a profitable company with excellent management. They`ve all moved on to be successful with new companies. I`ll invest with them. The best thing would be for a hostile takeover. I wouldn`t even bother speaking with management. To all current stockholders; good luck. You will need it.