Golden, I am not referring to the permit situation when I am talking about his being truthful. I'd say that falls more into his understanding of gold mining management and his lack of experience, more than anything. The fact that he is the CEO of this company with little to no mining experience is an issue that each person must decide on for themselves. The track record of performance with this company alone tells a pretty good story.
As for the assets being a big deal or not, I would agree that they really never amounted to much of anything, since they were not able to sell any product or the patented process when they were in that business before. So, I never thought it would be worth much after the fact. The point is, we were told in a PR, and others have hinted that Clayton has said that these assets were worthy, were going to be sold, had several interested "buyers" bidding on them, and the proceeds would be returned to shareholders. Then, we hear he said they had already been sold and profits used elsewhere. Then, we hear in response to being questioned about the assets, that he is off to a meeting to talk about selling them. The point is not the assets, it's about Clayton and what he says.
This goes directly to questioning the motivation, professionalism and honesty of Clayton, no more, no less. Since Clayton in many ways IS this company, by bankrolling it (his words, not mine), and the information coming out about it comes only from him (no real board members to speak of, no other management to speak of, etc. There are partners, and people who have signed on, some sound good, some have been released after embarrassing situations.
I still can't figure out the excitement of backing Clayton, who has no mining management experience, who wears many hats, and spends a lot of time promoting a lot of companies, including the previous companies in this lineage that failed, plain and simple, partially under his direction.
There is a track record in other companies, that people point to, and it sounds like some of those have been successful investments for some. No problem with that. This one currently sits far below where it started, and could go either way from here.
Have a good one.
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