...and Brent is a liar.
No promotion whatsoever. He said he would. He didn't. He still hasn't. He still isn't. Management (and their sons and wives and so on) have tens of millions of shares. It's clear to me that they really don't care what the share price is when they sell. If they did, they would have promoted the project to at least TRY to finance on better terms. Instead, they gave themselves loads of options and derivatives; it doesn't matter if they sell out now. They'll still make loads of money.
I would like to think that having all of those shares would have put them in line with shareholders. But the fact is that they gave themselves so many shares (and not enough of us voted against it), that they don't need to be in line with shareholders. And none of them bought a single share with their own money. It was our money...through poor financing terms and dilution.
They say they're moving into becoming a mine development company, yet there is no promotion. Developing a mine is capital intensive. They need financing. To get good financing terms, they need promotion. They haven't promoted the project for over 4 years. So to say they want to be a mine development company is another lie. They have no intention of it. Management will sell once they find an off take partner. It took a while to grasp what was happening, but now it's obvious. What remains to be seen is what we (shareholders) are left with.
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