Re: ECU/GOG - tank
in response to
by
posted on
Jun 24, 2009 05:14PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
How do you think ECU got, as you say, one of the greatest silver reserves of all juniors? They had to spend money on exploration and verify resource findings with 43-101 level reporting. None of these kind of developments are cheap so why and how does this make Altmann financially not responsible or ECU sloppy financially.
BTW, the operator of the exploration program for San Diego is ECU and they maintain a 50% interest so I ask why would they do things against their best interest unless there is some justification? Any change in ownership would require agreement or possibly a shareholders vote in the case of GOG. The fact is that ECU gave GOG a very good deal on San Diego, which I was never in real support of which means little, but don't seem to like their partner or have had disputes, now why would that be?? As I stated any deal, if such were to happen may require shareholder so the decision would rest where it should. I also note that ECU and GOG share one director in common, has anyone here talked to Talal recently, other than me.
You are entitled to your opinion about Altman running the company and you even gave a reason which is more than others when they denigrate the President of ECU. But consider that you might be wrong about what Altmann's responsibilities are in ECU. He isn't involved in day to day operations in Mexico and was brought on board for largely his institutional and investment banking experience which is outstanding and to oversee, develop and impliment strategies to enhance the investor base support, provide capital and financial reporting to Canadian regulators while providing investment community feedback and input into operational issues.
From my perspective the company has responded to near world monetary collapse with a new strategy to place production on at least an equal footing with exploration success and I welcome this shift although in truth it had already been in motion for sometime but much more urgency was added. I also look forward to future production developments and there will be more, much more. I hope the world and especially Washington/New York/London have learned a lesson and will be financially responsible in the future.