My opinion that IR needs to be addressed now rather than just waiting on the mill permit reflects concerns about the type of IR strategy and extreme lack of transparency, and addressing legitamate investor questions.
The company needs to address credibiity and building up credibility, it doesnt happen overnight.
1.Transparency- The company doesnt appear driven by transparency, for example not filing within 4 days an 8k on what was supposed to transpire March 6. Releaing tidbits of information such as $9 million in orders without any details- this just encourages concerns there is something wrong.
2. Management Ability to Meet Objectives- Without judging the past I think pretty fair to say management hasnt met objecives of buiding shareholder the last few years, and since management has an entrenched position in terms of voting shares and lien on the mill, even more important for management to be able to present a plan and meet objectives.
3. Type of IR- It is rather obvious whomever has been doing IR not familiar with the industry, nor of thinking ahead. Implying mine will be operating at a 37% gross profit percentage without any idea of capital requirements, terms of orders, or even if there is sufficient mill feed avoids key questions and what is frustrating according to their press releases they have done the preliminary economic assessments.
The idea of not release information as part of some strategy certainly doesnt appear to be working.Does anyone say it is working ?
Not releasing an 8k since March 6 I really think proves the point that this company needs a different attutude to shareholders IMO.
