Welcome To the WIN!!! St. Elias Mines HUB On AGORACOM

Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE

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Message: memory

In 2011 at the companies AGM, a strong message was sent to management at that time from shareholders. This message was sent in the form of voting down the increase in options which the management wished to get consent from the shareholders, to enable them to go above the plan maximum. Management knew at that time that shareholders were disgruntled and very strong in a voting perspective. The message was sent and management had almost a year to mitigate any actions that may have been considered by shareholders from that point as a result of their concerns. The shareholders concerns consited of and not entirely, of what seemed excessive travel costs. As each subsequent financial would come out from that period forward, there would seem there was little decrease in this expenditure while the company seemed to be in a stagnant position with travel costs eating considerably at the treasury. Also around this time and previous, there seemed that there should have been material news that was taking too long or not even reported in news releases. These concerns among others, were very legit and loyal shareholders expressed their concerns in a legitimate manner by voting down the options and showing their displeasure.

Then we come to Jan of 2012, the stock starts dropping rapidly with no significant news out and while we are still waiting for the first ever drill results from a property that had the potential to be a major gold find. The stock crashing ahead of the initial results was ludicrous, there was no reason for anyone to sell, and certainly to the calipre witnessed around that questionable time.

Every chance was given to management to get the show on the road, yet it seemed that the message given by shareholders via the option vote, was ignored. Even before the option vote of Nov 2011, a large value PP was announced in Aug and taken up by management that seemed full to any other existing shareholders. There was no problem with that PP being taken up by management, as it instilled confidence to the rest of the shareholders that faith in the project by management was a certainty.

Again, I could go on and on, but will stop it there for now, everyone knows the story. But as a defensive posture and an explanatory one, the shareholders actions are well justified and definitely easy to see.

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