Dave, I need to unshackled a thought that has been festering me.
First let me say that I fully support the events taken by you to
take this company, as MGR, out of harms way from the MAC's decision
to wait for MGR to collapse in bankruptcy.
<<...that history has shown us that pioneers usually get slaughtered.
I took offense to that comment, but can say if we stayed the course,
I have a pretty good idea where we'd be right now.>>
The 20:1 consolidation was voted as a yes by the MGR shareholders
at a time when the price of gold was low and expected to go lower
and stay low possibility for a long times, maybe 5 years.
Under that black cloud a settlement with MAC and Bumbat most likely
would have been an empty win as no money was available to start up
a gold mine where cost of production exceeded price of sale.
It was only months ago that you as president and the directors
had to decide of a way to move MGR into other areas of mineral
exploration, and clear to all was that a depressed mining sector
presented opportunities if one could demonstrate skill and ambition
of present management, along with semi-concrete speculation facts
that focus on new or undeveloped areas, that then this company
could obtain financing from eith a bank or person or other.
It did happen, but MGR needed a 20:1 consolidation so that new money
or finance would not be diluted by "old" investment money into the
Mongolian Bumbat gold mine.
Shareholders voted for this, and it was done.
To me the name change was needed since the possibility of obtaining
value from the Bumbat gold mine in Mongolia was years off.
<<Tyhee ... concept of adopting a ... unique name ...
permits us to adopt a more global perspective without any
preconceived regional or commodity-based affiliations.>>
So new name, no specific metal or country implied.
We are now here in the present, all papers signed with all
t's crossed and i's dotted, and the ink is dry.
But something will come up for discussion, and its not to question
what you as president has done, it cannot because the decision
was a correct one and this company was lucky that you completed
it and delivered MGR into a safe place from a dangerous one.
Anyway, eventhought shareholders did vote no for the consolidation,
the yes vote won.
Now the present with amazingly new day for gold.
What if gold did explode to $400 or more, and the Bumbat mine
situation was settled, and TDC began receiving a very good cash
flow of money (profits), and add to this "best case" that the new
money into TDC for the other or new mining also developed into
good opportunities, then as follows:
the mgr 20 to 1 consolidation into tdc
price of gold goes to $500
tdc & mac & bank & courts - mines bumbat for gold
tdc has other good investments, but payoff is later
tdc obtaining excellent cash flow from bumbat's gold
tdc stock raises to high levels
just like mgr shares would have
.... now the thought
those tdc shareholders who never brought tdc
but only got tdc thru 20 to 1 consolidation
is there any way they can "regain" value
*** assuming*** consolidation never happened
and price of gold did explode as is/might
and bumbat was mined etc.
is there any way to "reach back" and make more "even" ?
but again I say, the past decision was the correct one
and cry over spilled milk not valid
but this "cry" will make its way onto this or new tdc thread
so it might be or not better to address now
I really do not know
Doug |
