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She's beginning to sound a little desperate,isn't she?
I tell ya,there's a whole lot of people who are going to be put on "ignore"by the rabid rah rah boys,they don't like "poisoning the board"...if there are any left,that is...
ps-how's everything on the private invitation only "positive" board these days,still got their heads in the sand?are we still going to be a "150K mid tier producer really worth $5 by next summer"?
My question is why did it take this long to get a groundswell demanding to get rid if a Fifer,he's already got HIS money,but the cupboard is bare.The handwriting was on the wall for years,but nobody wanted to believe it,anybody daring to ask questions or demand accountability was called an 'idiot'and put on 'ignore'.Meanwhile the debts mounted,the cash ran out and the share price plummeted.Don't get me wrong,I'm all in favour of dumping him,better late than never, and his toadies,but it's a bit late now,the horse(and the money) have bolted
I have a very simple test for public companies,is management running the company like I was their OWN money on the line?
Far too many if these juniors operate with entitlement,they milk the company for every dime they can get out of it,and go back to the shareholders for more.And to add insult to injury,they get a finders fee for doing so.
Even if we dumped Fifer,The biggest challenge is not only the low grade orebody and gold prices,but the huge overburden of massive stock dilution.Until we deal with that,by consolidating the stock we can't recapitalize the company.Then on top of that is our blown credibility.I suggest most shareholders are just looking to minimize their losses than actually making money now.Too many strikes against us,I'm afraid.
You have to ask yourself,why put your money on this one when there's so many other good juniors who aren't saddled with this load on their backs?
PLEASE EXPLAIN-,with THIS RECORD-WHY is Fifer STILL on the payroll?
Or are we going to sit back, do nothing,and wait for the company to go bankrupt and a cease trading order?It might be too late allready,the guy should have been fired right after Copper was sold,not kept on and virtually allowed to write his own ticket[its been an unqualified disaster for the shareholders-not him and his friends].
I'd like to know-WHO was watching the shop?
You can't pay a good man too much,or pay an incompetent man too little.Whatever we pay Fifer,it's too much....the record speaks for itself.You can bleat all you want,but the Market has the last word.
ps-try and come up either some new excuses,the old ones are wearing a bit thin....
You can't pay a good man too much,or pay an incompetent man too little.Whatever we pay Fifer,it's too much....the record speaks for itself.
It seems to me the game plan was to milk the company for every dime they can get out of it,that and of course,being naive enough to pay exorbitant amounts of money for abandoned gold properties management picked for a song.Nice flip.....
If this "great opportunity"goes under,Mkjiii would probably still tell us it's a good thing.....look at the great tax write off you can get out of it.....see Mr.Fifer was looking after us all along and we just didn't appreciate it.....
Don't be so hard on her,she's only doing her job,highly qualified,too.I suspect her last job was an illusionist.Great entertainment,our group wouldn't miss it for anything.....
And there you have it,right from the horses mouth(or the other end)-all is good,great opportunity,nothing is wrong( the market has it all wrong) better get in quick before the big boys discover us.And don't forget,Fifer is our friend,we're really lucky to have him on our side....yup,and we're going to be a 150K mid tier producer really worth $5 by next summer....absolutely,no doubt about it.You believe that,don't you?
Got your PDI shares yet?(after all,they promised,didn't they?)
PS.....next venture,Florida swampland,it's a "great opportunity",maybe "our friend"has been out scouting for us,picking up some for a paltry $1 million so he can flip it to the shareholders for a mere $30 million,course,we"ll need to do another equity financing(a finders fee will be paid)heck of a deal...depending on who you are....
No matter how you look at it,at the very best this is a salvage operation now as we desperately are grasping at straws in the faint hope that something or somebody will pull us back from the brink.And that's the BEST scenario.....what does it tell you that the stock skyrockets a penny on the rumour Fifer will be dumped?Hardly a vote of confidence.
But what really gets me is it looks like he got to write his own ticket while he was milking the company dry and running it into the ground- and for THAT we rewarded him ?
Face it.... The shareholders took it on the chin and the company is the laughing stock of the market...
Where's all the drum beating and hoopla over the impending(well,maybe impending,sometime)HUGE NEWS?Why isn't the stock "skyrocketing" ?doesn't anybody "anticipate" anymore?
C'mon all you rabid rah rah boys...lost the faith?
Fifer should have been fired *as soon as COPPER was spun off and sold.as far as I am concerned the fact he didn't do what he said he would do(retain a percentage for PTQ) nor were we told about it,was the red flag about what we could expect in the future( and got)what we DID get was the company being milked dry,huge dilution and massive debt,sold a bill of goods on the lom poy(fifer and friends did very well,thank you very much).,which brings us to where we are,out of time and out of money,zero credibility and hanging on by our toenails desperately hoping for some faint hope rescue.....tell me it isn't so....
* better late than never but it's a bit like bolting the barn door after the horse has gone now,the company coffers are empty,and the massive dilution is a huge weight on our back that only consolidation and recapitalization could possibly rectify.Tough medicine but it's our only way out of this mess.I'd rather see it while it's our choice than be imposed on us.Meanwhile ,Fifers laughing-all the way to the bank.,of course,I suppose he's going to give some to charity....tell ya,with friends like that a man don't need enemies...
Remember all those 'weak hands" that sold over a buck* ....it was 'goin'to the next level' remember?
* you gotta wonder, was that Fifer and the insiders selling?
FIRE the guy-RIGHT NOW! Look at the share price, it's moving UP just on the rumour we might get rid of him.WHAT does THAT tell you?
Absolutely,Fifer is an EMPLOYEE,and the SHAREHOLDERS are the BOSS,and THEY call the shots,NOT the other way around....and as far as I am concerned ,he should have been fired YEARS ago ,not REWARDED.You don't put a fox in charge of the chicken coop....
with the shareprice still in freefall,I'm not sure what would work now,if anything.Fifer has made HIS money and appearently holds little stock,his only vested interest at this point appears to just be cashing his monthly cheques and when that well goes dry,my guess is he'll be gone ,off to the next ''huge opportunity''[for him]
funny-I don't hear the rah rah boys bleating about ''how lucky we are to have MrFifer on our side''anymore-yeah,funny that...wonder where they went?
Fact is we are the pissants here,the large shareholders will decide who is on the BOD
Members of the board fighting Fifer for 3 years? That's about the same length of time I've been demanding verification and accountability,and all I got was to be called the 'village idiot ' put on 'ignore'.....given the current state of the company,I suggest the WRONG people were put on "ignore"
it might not matter now anyway ,We may be past the point of no return,out of money,out of time and zero credibility-at least that's what the market is signalling.
When a company gets to the point where nobody believes them anymore,there's not much anybody can do ,even dumping Fifer at this point(which I have always said would be the best way to double the share price)might not get much reaction,it's kind of like trying to bake a cake when the cook has quit cause they weren't paid,the power was turned off,the cupboard is bare and no credit at the store
I think Fifer's strategy will be to stay on as long as there is money in the company account,but the moment there isn't he' ll be outa here.If the stock holds true to what usually happens with these Vancouver Penny Mining stocks that have been run into the ground it will revert to shell status,be consolidated and renamed ready for the next batch of starry eyed people who actually think they are 'investors'
"Strategy for Going Forward "HOW in the world can you "go forward""when you are bogged down,buried up to your neck in debt and fallen flat on your face?
I would like to hear ANYONE defend Fifers record,remuneration,and JUSTIFY what he had been getting....while the shareprice PLUMMETTED
WHERE were the BOD during all this?WHAT were they doing?-RUBBER STAMPING EVERYTHING he asked for?did NO one speak up?
60 GRAND a month,and an expense account on TOP of THAT?and we're not even breaking even-paying his generous stipend on BORROWED MONEY?......you gotta be kidding! No WONDER we are in serious trouble.....
Unfortionately putting people on "ignore" when they challange their favourite little gold stocks doesn't make the stock go up....(just check the chart before you smart mouth answer)
Looks like She's been reading tea leaves again.....I read stock charts (dismal)and analysts reports.....oops,we don't HAVE any analysts reports on PTQ do we?.....looks like the MARKET has us on "IGNORE"....now I wonder why?......could it be they aren't quite so BLIND as the naive glassy eyed rah rah boys who can't see their hand in front of their face?like maybe WHY we are in this mess?......bleat about ""going forward""all you want,the CHART isn't lying.....(neither will the creditors be when they say they will take us to court if they don't get paid)
the only thing I expect Fifer will do is try to do another equity financing... for two reasons
[1]replenish the coffers by bringing in enough new money to pay his generous remuneration package and expense account
[2] get another ''finders fee''
Hey,let's not be bitter here,this company has been very very good........if your name was Richard Fifer......great remuneration package(courtecy the shareholders)expense account(courtecy the shareholders) and when you run out of money,simply do another equity financing(plus those fat finders fees)and don't forget the ''great opportunity "to pick up an abandoned gold property for a paltry $1million and flip it into a public company for a huge profit.....heck of a deal......
And not everybody is unhappy with the new lows,it's a "great opportunity" to "average down"( of course,the rah rah boys have been saying that ever since it was a buck )
Oh,just wondering, WHO was the REAL "village idiot " accused of "poisoning the board" here?
"The asset is still substantial"-you mean a marginal low grade gold property with limited ore is SUBSTANTIAL?
Give your head a shake.....
Couple of points
-we might well get a trading halt alright,but not from us- from the exchange
-I suggest management knows all about 'fiscal responsibility"-how to legally wring every dime they can from a public company.,and they've done a yeoman job.
How much do you think MrFifer stands to lose.......like maybe ZERO?
And sinking some more.....where's all the yada yada boys,isn't this a 'great opportunity" to "average down.....and down? Heck of a deal.....
I suggest venturing into the LP was for one reason and one reason alone,Fifer picked up this abandoned gold property for a paltry $1 million and flipped into PTQ for a huge profit.THAT I submit ,was the REAL REASON .
Normally ,if a company is looking to expand,the COMPANY acquires the property,and any profits accrue to the SHAREHOLDERS,not management and their friends.
The way we got the LP raised serious questions and was a huge red flag in itself-there have been many such warning signals,most of which were ignored .At least one major shareholder sold on the news.Chances are a lot of other shareholders wish they had of to.From what we are told about insider shareholdings,it appears they were selling as well.Even Fifer only holds a small balance,he had very little vested interest in the companies future other than what cash he can get out of it.
And meanwhile,the shareprice continues sinking....hardly reassuring,is it?
I suggest Fifer has been running around playing big shot on the shareholders nickel and pretending he is important.He can't manage a company,he can't make a profit,he can't convince the investing marketplace he knows what he's doing,but apart from that,he's a great businessman.I don't know how we could get along without him,but we're willing to try
And something very good might happen.We already know what (or won't) happen with the existing management-more of the same that got us into this mess.
The BOD is supposed to represent SHAREHOLDERS,not automatically rubber stamp managements decisions,especially when the company was nosediving into the dirt.My question is where was the BOD while all this was going on?What were they doing about it?Nothing?
Been saying that for years,right after they sold off Copper,it's been a complete unqualified disaster,a hole in the ground we dumped money into -which the share price reflects(check the chart,it's not lying)...but it might be too late for that now,even with Fifer gone,we still have massive dilution hanging over our head,which I believe us a direct result of him milking the company for every dime he could get out if it,running the coffers down,then raising more money through equity financing,and to add insult to injury,we paid a "finders fee"on top of that!
The remedy is going to be very painful( not for Fifer,he's appearently sold the bulk of his stock),the only way you deal with dilution is consolidation,but at least you get the millstone off your back.
I have no problems rewarding efficient competent management,that enhances shareholder value but rewarding running the company into the ground?
Not a chance,you fire people like that,and it should have been done a long time ago.
I have grave doubts we will be even ABLE to raise any financing
Who,pray tell ,would loan a company money if they can't even pay the loans they already have?Who in their right mind would exchange hard dollars for paper stock certificates when anybody who has done that has seen their paper DECLINE in value?
I put it to you,how many people who bought into this "great opportunity" now wish they never even HEARD of PTQ?
Like,Give your head a shake....