Re: Here's the thing~spiny
posted on
Aug 14, 2012 11:33AM
(Edit this Message from the "Fast Facts" Section)
I'm still trying to decide whether to go. A lot of cost, and I'm not sure we'll get any real answers, and most importantly, whether we can trust them if we do. I'd love to ask some hard questions, but as I said in an earlier post I'm not sure if the catharsis of being able to vent at the meeting is worth the cost.
As for your adding 2M shares over those 2 years of pissed away opportunities, did you really add anything? Take a look at the number of shares outstanding then, and the number of shares out now, and calculate the percentage of the company that you own. I'll bet that you own maybe the same or or smaller size share of the company. And if you really want to make yourself ill, calculate how much of the company you could have bought if you had waited until now to buy. I know that despite buying all along, I now own a smaller percentage of the company than I did when there were less than 50M shares out. Granted, it's a bigger "pie" with the mill and other progress, but most of the delays, missteps, and dilution were readily avoidable. Especially dilution that did nothing but line the pockets of the Qs.
As for drilling, don't believe it until it actually happens. We have been told drilling was near many times. The last PR essentially said no surface drilling until next year (effing unbelievable, another year wasted), and that they have funds available to "reopen" the Sinker and "begin" the underground drilling "program" (remember, "drilling program" doesn't necessarily include "drilling"). Oh, and funds have been "pledged" for the "support" of this 14 month (!?!) program, though we haven't seen any of the promised filings to confirm that. Oh, and they haven't even awarded any contracts for the work yet. It's all too familiar sounding.