Balance -sudbury -geofan
posted on
Oct 20, 2012 07:16PM
you are big supporters of peter and i once was too . I am the longest shareholder in fancamp and go back to the times where peter ran olut of money and i lent him personally a few thousand dollars to make ends meet
I invested a lot of time and daily calls with peter and listening to his endless optimism about his great properties
Fact is that fermont and magpie were pat sheridan properties that were 50% sold to fancampwhich at the time was a true lifeline
What did peter do with these properties. - nothing. Just sat on fermont and ignored magpie. He focused on nothing and moved at a snail pace throughout the last junior rally and missed it.
Other than to take money from mineral filleds and his friends at NAL who were more than happy to give him $$$$ and earn fees which is their business from from flow thru.
Champion came along and took fermont from peter (50% for 6.5m) and dilled it and did a 43-101 and made a success of the company from ashes to something. Should not peter have taken his money and done whatx larsen did? I think so
Magpie is languishing and moving at zero pace.
So tell me what is peters' plan? Why will the leopard all of a sudden change his spots ? Can u, elaborate what will change over the next 12 months with peter at the helm
Peter is running out pf money! How much does he intend on raising and diluting sharholders yet again?
We have already suffered 30mill shares to over 130million dilution and cannot figure out what added value peter has shown?
Will he use the next round of flow thru financing be used wisely? Please let us know his plans .
He cant use it for magpie mor champion nor rof ! They are all optioned. So that leaves Lamalee or bellechasse?
Going where?
Magpie - argex - will peter ever spin out the shares to shareholder. I bet not. So many times we talked about it and he waffles depending on who he speaks to last
So in the end as wonderful a person peter is. I gave up on him over a year ago .. He refused to improve the quality of his board and get qualified serious people. Other than family and friends loyal to him
Peter is an island unto himself. He hired john harvey and mac and others to be advisors. He Does not consult them! And certainly ignored harvey on where to drill on rof and wasted precious $$$$$
So i trust my gut that peter has no vision and no real business plan other than to wing it which will dilute us further
I dont trust peter to deliver the goods
Good luck to both sides