Verde Science Inc VRCI

re:ceo

[longrider1964]

Had to post to put some perspective on this. Douglas Lake was many moons ago and like all juniors had many opportunities and like many had a ceo who was looking to boost share price to do a nice financing and if you can ride the coattails of another company who has a big hit all the better. The one article I have seen referred to is by Bob Moriarty of 321.gold a very well respected guy who was in fact a director of Douglas Lake when they had an opportunity on a piece of land next to Canaco in Tanzania when Canaco had a big find and its share price was headed to the moon. So Harp Sangha like many junior ceo's was in a rush to cash in on a proximity play and do a big financing as they are the life blood of a junior and the higher the price the less dilutive. The unfortunate thing is Bob actually found a world class placer deposit which if it had been developed slowly and methodically could have been a 100,000 ounce producer still to this day. But most junior ceo's are in a rush to make the big buck or score and have no patience or temerity to actually build something which is too bad. I was in on a similar play called Castle gold where they just couldn't get there ***** together and didn't want to take the time to build something. We sold out for 100 million and the new group came in and invested about 30 million and lo and behold Argonaut Gold was born and went on to a market cap of 500 million just on our assets as the mine was good for 80-100 thousand ounces a year. They have since done some acquisitions and will be over a billion in the next few years. HMMMM did we get screwed yeah a lot of our shareholders were like why didn't we do that? we had 80 million shares f/d and a price of 60 cents so why not do a 30 million placement and issue 50 million shares with maybe another bonus 25 million warrants at 80 cents?  So you sell half the company for maybe 50 million and with 160 million shares f/d you end up with the same 500 million market cap and a share price of @$3 in two years. Hmm does 5 times your money in two years sound good? This was back in fall of 2009 so things in the gold scene were just heating up. Anyway the point is the asset was great but our management or Sangha for that matter are not builders of wealth they are finance and promoter types. Find it pump it and sell it for a tidy profit. So these guys regularly stretch the truth or flat out lie to get a deal done but that doesn't take away from the quality of the underlying assets. I think Rango is another example of that. It always blows me away how these hustlers always manage to find great opportunities and then possibly screw them up lol but in this case I don't think that will happen. Like in real estate oil is much the same. Location location location! And these guys seem to have found it right in the middle of the big boys and they are executing a very well thought out plan so if they bring in anything close to what they think they have this will fly nicely. Could sangha screw it up I guess if he tried really hard yeah but don't think that's his motivation :) If they get the Cali property up and pumping and prove up some reserves they can sell it off with the partners for a very nice profit and use some of the cash to develop other opportunities of which there are endless ones in the shale oil/gas scene in the States. Has Sangha pushed the limits of business ethics sure a crook mmmm borderline on occasion but no different then dozens of guys running junior venture outfits. The asset in this case is what I am looking at and also the quality of the partners and they are both high in my opinion and so on this one I will give Mr. Sangha the benefit of the doubt until he proves otherwise. But that is only for this particular project and that is always the way I approach it. The guys who u can invest with based on their name are rare indeed and usually they don't need the money so u rarely get in at the bottom where the big money is made. If this goes to $4 on a big hit which I think is quite possible then that's a 10 bagger in a couple of months for most investors but there were some who got in before this project was really secured and on its way and those people will make 50-100 times there money and they deserve it because when they bought in the thing still could have gone kapow and vanished in an instant. Once the financing is in place and the drills are turning the risk factor has been reduced substantially and so the reward is reduced too but I still think 5-900% in under three months in todays market is pretty nice! All in my humble opinion and look forward to the next few weeks with great interest!
                                                             Longrider

[copperhouse44]

Thank you for confirming the validity of my post about Harp's reckless behavior at Douglas Lake.  I appreciate your perspective, but imo he hurt a lot of people, and it didn't have to go down like that.  If not a crook, perhaps a liar is the word to use. Lets all hope this destructive habit is a thing of the past.  Nobody likes a liar.