If I were Ernesto, I would prefer to realize the profit from what I've invested over the years and then go forward with another project than keep putting more and more funds in right to the bitter end chasing that last drill hole.

I refer to my question from earlier today. If Ernesto doesn't automatically grandfather into a position on the new Board of Directors for cuu2, then he's definitely much better off holding out until the new company forms. Prospekt's suggestions would be much more viable in that situation.

He'd be a majority shareholder without the encumbrance of having to look after all shareholders' needs (as required by having a seat on the BoDs). He'd only have to look after his own interests.

Heck, I have to assume that he would also have a valid opportunity to decline being a BoD member on the new board. From there, again, he could continue looking out for solely his own interests, but still as a majority shareholder.

Hayz