Hi, VAUGHN:
You seem like a person of integrity, so I'll give it another try. I've re-read some of your recent posts. While I still disagree with some of the things you've said, I respect your taking the time to discuss your concerns with SUF.
I know you've been an ardent supporter of SUF for a long time (I've read your posts for a few years). I too am an ardent supporter of SUF, but for a different reason. Messina is an incredible asset. One of the few developing PGM mines in the world. An asset that is extremely desirable. It is an asset that is the cornerstone of SUF's future.
Because this asset is so valuable, my greatest FEAR is that another company will take over SUF for pennies on the dollar. I've posted my realistic assessment of what Messina is worth TODAY to Southernera, and the minimum value I get is $10/share. The diamond assets add further value.
I will readily admit that if a major is willing to pay fair market value for Messina (C$10-15), I might be convinced that this might be in the best interests of Southernera. But, if a takeover were to materialize, I would ideally like to see the diamond assets dividended to shareholders to continue the successful initiative that Dr. Jennings began.
But, until that shareholder value is realized, I'll be a long-term holder of Southernera, as doubtless you will be, too.
As far as reserving 50% of current outstanding shares for SUF BOD to issue, I would like SUF mgt to have the flexibility to develop the assets it has.
As far as the increasing the # of performance options it's not a thing that I would normally vote for. However, in the case of Southernera, I believe this mgt has earned our faith in the turnaround of this company and its assets.
As an example of why somebody or some team in Southernera deserves performance shares: The recent Accelerated Production Initiative. I believe this was a BRILLIANT decision on somebody's part, and they deserve reward for increasing shareholder value. Likely, our shares would have languished for another year in the absense of this creative idea.
Regards,
Geoff |
