Re: Bottom line from my perspective
posted on
Apr 18, 2013 08:53PM
(Edit this Message from the "Fast Facts" Section)
As much as he has screwed up, made bad decisions, etc., PQ has to make this work. He put $5M of his own money into it. I'm not sure how much cash he has taken out, but for the most part he has taken his salary in shares. If he doesn't make this work, he loses not just his original investment, but his shares are worthless. Now, I'm not defending him, but when someone takes shares instead of cash, they deserve a bit more because of the risk they take and the delay in whatever payoff arrives. Unfortunately, PQ has pushed this beyond reason, probably as I said primarily to keep up with dilution so he can maintain control. But again, he has to make it work. There is no doubt that WEM has the goods, and they are very close to the pot of gold at the end of the rainbow. There are also other well off individuals among the main players with large amounts invested, and if push comes to shove I think someone will come through with whatever it takes. If it's a choice of putting in the last bit to get them to the finish line and get stinking rich or hold out and lose everything, I think the choice is obvious.