This is Jim Voisin's response posted on SH:
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RE:Question on Jim Voisin's share holdings
I forwarded your question to Jim for his response and this is his response FYI :
Hi Harjay
Sorry I really don't know how many shares I own between my Wife, Company and me. I'll have to add them up before the circular goes out for the AGM. No, none of the 10 Million were for me. They are a commodity when there is no cash. I'll likely buy a few haha!
Stay Tuned!
Best
Jim
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Here is my take:
I am not too worried, as the CEO has already demonstrated strong commitment to the company and its shareholders. Hard times in the junior space requires making some hard choices. In this case he has sold down his shares in order to pay expenses. This is preferable to having increased the shares outstanding in order to pay himself a salary, IMO.
I suppose one should wait for more clarity before investing in FMG, like for the financing to be in place. But then one may have to pay 10 cents per share. I believe the next leg of the gold/silver market has started or is a few months away from starting and I wanted cheap exposure to silver which I think will out perform gold by a factor of 3x. So my plan is to wait 2-3 years with this one, at which point financing will be in place and gold/silver revenues from heap leach production at Karen zone which should help finance further exploration on the promising Diana zone.
