Re: Examples of manipulation...or is it incompetence?
posted on
Dec 10, 2010 10:58AM
To answer the title directly:
The only incompetance that I see is that they acquired a deep drill crew that could not drill accurately enough OR the geologists do not have enough info or were unable to pin point the drill locations to hit ore at depth.
I believe the conduit for the ore exists, it has to.
As for manipulation - I favour that interpretation. Why?
Note that it was not the retailers that booted the old management but mostly the institutionals.
They placed their own people in management and some that did not want to go along had to leave.
These new people, if not having their strings pulled by those institutions, they surely are beholding to them for being there.
So I ask you: Did we realy need that 10 million $ from the last financing?
I say hell no.
Did it had to be closed to a sellect group?
Obviously not. I say collusion and probably not ethical. ( Did not a few posters here want to participate in financings but were ignored?)
It was a cheap share grab. I suspect orchestrated by the institutionals and the beholders had to go along to return the favour at the expense of us retailers.
I have no influence on such matters so the best that I can do is go along for the ride.
Hence my short term trading strategy.
Now you know my opinion and how/why I react with my trades.
This is not a complaint. This company has great assets. How many companies can boast the potential of 5 times the profit of operating expenses (Eagle).
That is the main reason I am invested in this company.
The worst of management can not destroy the assets in the ground. They will surface, it is a matter of time and by whom.
Cheers.