AMG Notes
- Number of Directors
Currently if voted FOR we would have a total of 4 Directors.
- Election of Directors
Here we have 4 Nominees
- Darren Blaney
- Robert Edward
- Denis Edward
- Tobin Wood
This is their BIO found on AMK site
American Creek Resources Ltd. - Management Team A few thoughts.
Darren Current CEO and President. Love what it took to bring this all to Fruition.
Robert, Accountant along with Denis. This makes up 50% of the Board.
Business Accounting | Edwards & Edwards (edwardsaccounting.ca) Now the last one Tobin Wood. I’m not as rosy here, perhaps I just don’t know but from what I do know is I don’t see any obvious reasons why he would be a director for AMK.
Starting Point is Mr. Wood is a realtor. I have spent less time to find out much more information when looking up management teams. What isn’t clear is what is the value added by having a realtor makeup 25% of the Board when AMK is just holding 20% of Resources that isn’t drilled by them? A lot to unpacked right there.
As an example, last year we had Sean Pownall on the board, does he need explaining?
If I have completely missed the obvious, please mention anything that could make the understanding of his nomination make more sense?
Here the disappointment is seeing a spot that I don’t see the added value to shareholders say as much as if a Geologist was added, that I could see rounding out the team a little more and would and could help with Stinger. Is Mr. Wood an addition for Stinger in the Future? Maybe but if that’s the case maybe not so much for AMK? Again I just don't know.
I think that few could argue that if you’re going to have 4 people make up the board is a little variety a bad thing? And to have someone who joined without running any of the bases with no clear role is worth clarifying. We only have 4 here to represent us, I hope you take it as seriously as I do.
Selling From Directors 2021
CEO.CA | #amk American Creek Resources Ltd. (AMK.V) Darren Blaney
Common Shares 2.2M
Options 15.3M
Sold a little more than 100K shares in February at $0.385-$0.405. Great Price, can’t blame him and very little overall.
Robert Edwards
Common Shares 1.9M
Options 12.7M
Sold in February at $0.405 but the amount is so tiny that we shouldn’t hold it against him, we’ve all made mistakes
Denis Edwards
Common Shares 35,500
Options 565,000
And in April looks to have Sold >65% of his position at $.28-$.29. I will be the first to say it, 35,500 is weak and where is the skin in the game? How can you sell AMK when you own 35,500 Shares? Do you believe in AMK this first thing that comes to mind. I personally own Multiples of this and paid for them along with most of you.
Tobin Wood
Common Shares 0
Options 300,000
Again, not impressive at all.
In a nutshell you have 2 Board Members with Options makeup let’s call it about 10% of AMK then we have 2 other Board Members that own combined 35,500 at 20 cents that’s $7,100 and even worse that’s in CAD!
- Approval of Stock Option Re-Pricing/Option Plan
This one like I said at the time of PR was like a flick to the Tonnes. Not enough to cause damage but just enough to think of damage. Here if you think we get taken out SOON, who cares. Doesn’t apply to you if you’re right but if you’re wrong and my pessimistic side takes the lead then I’m thinking 3-5 Years before that happens. Time at this point isn’t as important as what could happen if the worse (if you think 3-5years is bad) was to pass. Currently our 4 Board members can create their own version of Powell and PRINT 10% of Shares Outstanding 2 of which have 35K shares between them. Nothing unusual about this at all but I need to mention that this is a MAX allowable amount. I also need to point out AMK isn’t drilling TC and so is it necessary to have access to so many shares? Look at the last PR, the price didn’t workout so they cut the price in half rather than an extension?
So, this got me thinking. Here I am buying AMK to what I believe to be at a discount to TUD which I consider a way to add additional leverage but that could end up being someone else’s gain? Imagine I’m right and this goes 3-5 with MAX Dilution in three years that’s 33% more shares and 5 years that’s >60% more! And some will SCREAM, ROLL BACK THOSE SHARES, for what? TO blow more money? At 10% a year what’s the rush? And the kicker would be that other companies at least raise MONEY to Drill. You could even make the Argument that if that’s the case then go with TUD because at least with their Dilution money is raised and don’t forget about all the PR that comes along with having someone like Sprott that takes the PP. This hardly means it will be this extreme but cutting the price in half makes me think we all need to be keeping an eye on the till and good thing for US we have 2 Accountants that makeup 50% of the Board. As far as I’m concerned given AMK does not need to drill is to not treat it like a HUGE SLOW BUS filled with drilling/permits and on and on and on, no way. This thing is a LEAN SPEED FIRE SPITTING Machine where you rip out the back seat along the passenger seat and strip anything that adds ANY UNESSASARY weight! SPEED! And 10% Dilution Yearly is an OLD annoying FART standing in the middle of the street whining about the noise.
Take a moment and ask yourself, what is so special about AMK? In ALL seriousness I think you all know me well enough to know where my intentions lie when asking this. Is it our FMV discount? That can be taken away rather quickly. So, what is it that would make ANYONE buy AMK before say TUO or TUD? Let’s start with the easiest, TUO. You get TC and for 16M more you get over 30 other Properties? Ya, I see that.
Next, TUD. Going to do a SPINOUT. Not only do they have 60% TC they might have just as big of a deposit in NEWCO? Interesting kicker and for the icing on the cake you get KK.
AMK? Why? cheaper that the other 2. IS that it? That’s our PITCH?
I see this
It’s that we have the ability to be LEAN and the FOCUS needs to be ALL LEAN to the point of being RIPPED! veiny popping RIPPED!, the kind that stands out, WITHOUT TRYING! and so if the Board leans towards easy options, moving targets and destroys what makes AMK different from the other 2 Choices we all have the ability to buy over AMK then my question again is Why AMK?
All tough questions, questions that need to be asked because we only get this chance once a year. Most of us here all know how hard AMK has fought to get here and they need to be commended for their efforts for which they have been compensated. Now AMK enters that new stage, the one that you know it has the goods so as we all sit and lookout for a takeover let’s not all forget to look back and see if the house is in order.
I like Waffles :)