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Bullboard - Stock Discussion Forum First Uranium Corporation T.FIU

TSX:FIU - Post Discussion

First Uranium Corporation > Don't Ever Get Me Wrong
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Post by Hmmmmmmm on Mar 22, 2012 3:47pm

Don't Ever Get Me Wrong

I am all for action. I am all for getting my money back. But here's my experience.

I have gone to an EGM. Everyone whined and rehashed the same old stuff. Mgmt agreed to meet with us. They did a dog and pony show plus a tap dance and nothing happened.

I have been in union negotiations on both mgmt and union sides. When on the union side, there were promises to go back to the table and get more.....nothing happened because we were told there was no more to be given.

So....my point is:

Tell me an EGM has the power to:

* replace management

* install an effective BOD (who are they and how do you find them?)

* change the deals and get the true value..or..squash the deals and find a way to delay or pay off the debentures (rights issue?)

Does anyone know if any of the above is possible or a likely outcome of an EGM?

Gathering a list is fine but are we just preaching to the converted?

What do we do that results in action? Is an EGM the answer? Where's the power in that?

Does anyone know?

Comment by BillyK on Mar 22, 2012 4:09pm
Yes an EGM has the power to replace management and/or install an effective BOD and especially to change or quash the deals. Don't forget, it won't be small retail investors talking to management at the EGM. It's going to be Sprott and Olma. If they have the required and confirmed shares backing them up, they can prevent the deal as well as make changes; which means Anglo will have ...more  
Comment by Hmmmmmmm on Mar 22, 2012 6:58pm
Thanks BillyK. I guarantee you I have more money invested in this company than anyone else on the list....but not more shares. Don't take this the wrong way or get defensive but where did you get the confirmation that an EGM has the power to do what you listed? Is there a legal link available? OK...so now it appears the plan is to create a list and send this to whom? Sprott? With the purpose ...more  
Comment by BillyK on Mar 23, 2012 11:31am
The reality is that a group of retail shareholders does not have the clout, the amount of shares, nor the capital to change this situation.   My goal is to gather a large amount of shares as a group, to approach the big boys with this, and hope that they call an egm to remove the BOD. They can obviously put good professional people in place.   I am encouraged by the fact that the big ...more  
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