Malaco Take over at most 36 Days awayAdjusted my date by 6 days to reflect the AGM meeting date.
Turns out, my speculation was off just slightly.
Investors buy shares in corporations that are well managed and have a good future.
An astute knowledgeable experienced mining executive has spent a considerable amount of money to purchase a key position that will allow him to have control of Monument Mining.
Malaco purchased 30 million shares for $.50 a share,this with us gives him control.
Why would he buy into this mess and how will he turn this around.
Here is a couple of key items that need to be considered;
Our past BOD allowed for a small group to control this corporation.
This control group has financially benefited and we did not.
The previous process to review and analyze potential investments was flawed or the parties were not astute business leaders.
The renumerations of all key executives are too elevated considering the substantial decline in net assets, the mismanagement and the decline in share price.
How does Dato remedy this situation, he started last year and Baldock retired.
One item is certain to me, having Dato enter the picture has given us hope that we will finally have a well managed firm.
Drastic cuts are required and a new corporate direction and mindset need to be established.
The other option is to take it over and clean it up as a private corporation.
I keep buying more shares and popcorn, the show is getting more interestting.