No sense owning this if the Board and Management is not gonna announce dramatic pay cuts and some layoffs. They can Ignore the new and dramatically different reality at their peril. Forget about the reality of a month ago.
If the new hires want to come back in 3 or 6 or 9 months or a year, that is their decision, but they have not been working for chickenfeed as new hires. We don't need them now, nobody will deal with NAK as a company just turned down on its ROD. Unless the Board is reasonably confident they can turn this around in 3 months, these people have to go.
and Ron and the others need to take major pay decreases. They can say this is unfair all they want, but they have had a terrific living as employees of the company, these past 2 or 4 or 6 or 10 years. I say this relative to EACH AND EVERY SINGLE SHAREHOLDER WHO HAS OWNED IT. All of these people, each and every investor, has gotten crushed for the past decade. They have all (and people here have all), lost their rear ends.
Management might respond, hey it is the stock market, you knew the risks. (I am not saying this is their attitude but actions speak louder than words). I would say fine, that is why I will never buy your stock. I need to see hard work, sacrifice and dedication before I put a dollar down. If I wanted to invest with low life's I would buy the S and P, but I am not shallow and vacuous. There are a ton of tremendously dedicated small mining companies out there.
This is a sub 200 million dollar company now. (172M, without considering options etc and other kickers). Ron had no pathway to turn it around on his recent conference call. I know he is stunned; he is an honest guy. Yes, the company has been deal a dirty deal from the bottom of the deck, but nobody has been crushed and hurt more than shareholders, most of whom have lost it all just about.
Ron has got to shove his dreams of fame and glory aside and show now that he is a leader. And Ron is a very likeable guy, but now he and the company has to give back.
This is not a time for the BOD to ignore reality. If this company has to do a secondary in 8 months from now, the share price will be gutted. And the company probably still owes tom collier most of that 12 million. That is and should be still a liability on the books, but now of course, things have taken a turn for the very worse, on his expected payout. Things are a mess.
EVERYBODY IS EXPENDABLE....EVERYBODY AT THIS POINT. The company needs to get small ASAP, and act its size. If Biden gets in, things will have gone from very bad to dreadful. Even if he does not, the delay here might be much longer than people think. The ACOE is clearly compromised by the LEFT. That is another reality. Reversing an irresponsible decision which is based on 9 findings (all bad, admittedly probably) is a very tall order, and may take a long time even with Trump. Right now a 2021 dilution is the true enemy. Let's see how much fat this company is willing to shave, that is the test right now of your investment. let's see what these guys are made of. As my mother used to say, charity begins at home.
Management knows all of what I am saying but the issue needs to be dealt with immediately.
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