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First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed

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Message: What bugs me

As a minority shareholder with 1.4 million shares, I am pissed. The BOD's actions have destroyed a company that should have put me into retirement, and I am sure that I am not the only one in this situation.

There are a couple of things that are ticking me off after the news releases of the weekend.

  1. Was there not an evaluation being done by TD? I heard someone say that they had talked with Novak, who told them that there was no evaluation underway.
  2. If there was an evaluation underway, where is the report? Would this information not qualify as material of interest to shareholders? Should the BOD not be forced to provide said information to the shareholders? If the evaluation was seen by the BOD, are they not acting on insider information??
  3. What percentage of votes received were in favour of the merger? Once announced, the special meeting should not have been cancelled. As minority shareholders and insiders, the BOD should not be able to cancel it, if there is any interest at all on behalf of the shareholders.

This is all in my opinion, and I admit no knowledge of trade law for governance of companies. But the above, to me, seems like fair enough requests for shareholders to have.

At 19 cents, we are getting a raw deal. It will be interesting to see where the market will place us when trading resumes today. I don't plan to sell or tender at this point. I don't think that we have seen the last of the bids from Cliff, I think that they are still well short of taking over sufficient share holder control to vote in a new board.

Good luck to all

3
Jul 05, 2010 08:40AM
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Jul 05, 2010 08:44AM
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