Re:jimmer's questions - ANBCA
in response to
by
posted on
May 21, 2010 01:13PM
First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed
A very good post, Snug, and for once I agree totally with your analysis. This R/S thing has come to the forefront twice in the last year or so, and on both previous occasions I opposed it, for what I think were valid reasons. On this occasion I agreed with the need to give the BOD some wiggle room in negotiations that are sure to take place within the next few months. However the majority decided this was not to be, so where do we go from here. While it is true that the mineralization is still in the ground, and has the same value either way, there are three players involved and as always, the stronger one will wind up with the goods at the end of the day. It was always going to work out that way, but in order to win at the negotiating table, one must have a couple of aces to play, and in all honesty, I do not see any that Neil has available. There is still plenty of blue sky here as they are smack in the middle of the ring of fire, but further increases in valuation will likely come from the drill bit, and at the moment there are only two plays with active drills. I did dump a good portion of my holding here in anticipation of this vote, with the intention of buying back in once Neil got his OK from the shareholders, but I believe it will be redirected to other plays for the next couple of months, until we see where we go from here.
FWIW, I have had a few PM's regarding the AGM, and from what I have heard thru them, someone has more than just a retina detached.
That's it for now , folks
K