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Message: Mineralfields & Funding Issues

Re: Mineralfields & Funding Issues - Glass

posted on Apr 10, 2008 11:46AM

Glass, I am sure you are a great guy, and we probably would have a hoot together drinking a cold one. But you just rubbed me the wrong way and all your posts do the same.

Regarding the PP. They did a PP with Mineralfields before the results were out. They had the cash and could've had a lot of it (if the results were good). Unfortunately the results sucked and now they are short on cash. They decided to wait until further results until they finalized the PP with Mineralfields.

Kudos to you for catching all this. Thanks for your input, you are right in saying that many people don't actually read financials. I bet many don't understand how to read financials. I don't accuse you of not doing DD, you just have never spoken to management and you don't have any idea of what they are like, what they are thinking. Sure everyone can say mangement sucks, but they are learning too. People who invest in this company should when doing their DD see management experience. People blame management, which is fine, but they should've done their DD on management. If they don't feel good about "rookie" diamond management than go invest elsewhere or wait for snowfield to go out of business and invest in the next management team that takes on this property.

Other than that, talk to management with your opinions. Who knows maybe they will say - "well Glass that is a great idea. I think we will look into that or, we will do that."

All the best

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