I think you guys are misunderstanding the situation here. I don't think anyone can fault Mr.Briscoe for putting together such an impressive asset portfolio, based on his Geological and Technical expertise. He's built this company from the ground up and it's taken 8 years to get to this point, understandably.
This is very similar to what I've seen over the past 14 years of my experience in the Pharmaceutical/Biotech industry. Generally the first 5-10 years of Pharma startups consist of a handful of highly intelligent/educated scientists (usually PhD level) running the company and coming up with some novel, creative treatment for a disease. They do a great job with the Research & Development, Formulation Development, and early stage clinical trials.
However, they lack the know-how to bring the company to full commercialization. They don't understand how to break out of the R&D phase of business and move into Production, Financing, Partnerships, advanced stage Clinical trials, Regulatory/Compliance matters, getting FDA approval (legal matters), nor how to market/sell the product once approved. This is why 90% of Pharma/biotech startups either fail or get bought up by a major player who brings in their management to get the product fully commercialized.
On the same token, Mr. Briscoe has done a fantastic job putting together a great asset portfolio (valuable claims) with such few resources and I'm grateful for that. That's why I'm an investor here. But along the way he's been tripped up by shady financing deals that diluted the heck out of the company. I don't want to see Mr. Briscoe removed from the company, or from the CEO position, but I do think it's time that they hire a CFO who has a solid background in Financing as well as Mergers/Acquisitions. In order to be great, we must each know our limits and strengths, and play to them.
I know of a Biotech company right now that's trying to transition to a fully commercialized company but they're 3 years late in trying to get FDA approval and that's mostly because "old" management was too prideful to hire or work with "new" management which had the experience/knowledge to get the job done. It's a shame too. They're sitting on a potential $1 billion+ a year drug that could help millions of people live a better life.
I hope when the time if right Mr.Briscoe will acknowledge that no one man can do it all himself. Delegating responsibility to competent employees and trusting them to do the right thing, while obviously supervising them closely, is what makes great CEOs great.
JMHO
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