Posting news in a bad market.
Some call for posting news constantly even in a poor market. In my experience this has less effect than good news in a growing market, where it has the opportunity to actually stimulate the stock. Reading the TSX rules that were posted for all shows exactly why certain PR's are required and issued. Their content is of course monitored and approved by the respective authorities. In a competitive industry one must keep options open, and not disclose what should be strategy and competitive advantage. Just make the required filings and go about building the business.
Again this goes back to what shareholders, particularly small ones that have no influence or ability to affect the company, actually need to know. Large potential investors generally are well informed whether it is from communication, expertise, or due diligence. Management should be judged on things that they can control. Company specific growth in fundamental value and stockholders equity on the Balance Sheet. Macro market movements are a whole different ball game.
The five year plan for growth and expansion is very complete, and well developed by experts in the field. There is no reason to share it with the broader market. Our cash position is far better than many in the industry, and is improving thanks to the non-mining diversity of our company. If the large shareholders are happy, Ernst&Young is happy, why should be take a negative stance?
Another interesting facet of our program that gets little attention here, is our acquisition arm. They are very busy, and there are more opportunities everyday. Now that we have settled on who does what in the Corporate Structure, and the jobs that they actually hold, perhaps time would be better spent looking into our future over the next three to five years. That is the job of the the Chairman and Executive committees not running the day to day, month to month operations. We have seasoned veterans, well experience and qualified in place for years to do those jobs.
AI
