Re: Why are other Board members silent?
in response to
by
posted on
Mar 11, 2020 10:34AM
Combining Classic Mineral Exploration with State of the Art Technology
"What would be the point of a shareholder meeting and vote?"
To address shareholder concerns, affirm or reject changes of positions in the BOD, affirm or reject new appointees to the board of directors, and to conduct other business as may be brought before the attendees by the board itself or by shareholders or both.
"We are not big enough of a company to pull that off, and to be blunt, who here would go?"
And I thought I was stuck too much in the 20th Century. LOL! Yes, such a thing would cost us money, but we are bleeding anyway, no? More importantly, shareholder meetings may be done electronically, and most voting is also done electronically these days (except by those who chose to cast their votes in person). Is this your first and only shareholding? Never received a proxy?
"And a vote... do you think that us plebes have enough votes to do anything concerning the company?"
If you are calling most shareholders "plebes", yes, definitely yes! BTW, I am in no way a plebe. I am a shareholder, and by the nature of our being a public company, I am a part-owner of it and expect that the BOD work for me, not for themselves (except as if benefits me by equal measure) - options and salaries not included.
"The officers have more options and stock than all of us combined."
Options don't vote, and public documents reveal that insider share counts are minuscule compared to overall outstanding shares.
"If what BG is true, and as of today I'll give him the benefit of the doubt, nothing but optimism as of now."
O.k., I'll do you one further. I will accept that what BG says is true and that it may even add to YOUR optimism. I will have to point out, though, that most any explorer looking for partners can say that they have had expressions of interest. Such is not earth-shaking news in this industry. It is routine if disclosed at all.
"A shareholder meeting would take half a year to organize,..."
Where do you get your facts? Oh, wait, maybe this is the case as all of our key officers and directors at present have full-time jobs elsewhere. Still, it should not take that long, absent pressures for delays
"...and re-working the officers/directors, would take about a year...
While I very much doubt your estimate of timing for a number of reasons, you are preassuming that changes would be required following a meeting. Why would you do that unless you personally fear the result?
"Again, if BG is telling the truth, we are on the cusp of a deal by the election."
Again, I will assume that BG is telling the truth, but again I will say that expressions of interest (and even executed confidentiality agreements) are relatively meaningless in this industry. Most explorers will not even mention them in public communications.
What is the point of drawing out which girl to dance with? I don't care whether its .02 or .1 per share this time next year (if we get some kind of deal), just get it done. JB didn't get us to this point as far as I know in 10 years. BG deserves the rest of this year, to make his statement come to fruition. JB and all of us will benefit from getting a deal done and seeing the street "making it rain". JB, take that seed money and do a private placement with some options that don't expire for 3 years, and make 20x+ on your money. Or buy a S-load of common and join the grunt fight. It will help keep the lights on. Go team."
Earlier I thought that you were making a reasonable, though misinformed effort at expressing your frustration for LBSR dreams unrealized. However, this last bit is a departure. Also, may I ask what you mean by "JB didn't get us to this point in ten years"? I guess I missed it, what point is that? There is no evidence that we are any closer to drilling now than we were at any point in the recent past.
Anyway, I appreciate your sharing. We don't see enough of you around here.
VP in AZ