Frank and others,
This bullshit bashing of GIFS and their investor relations has got to stop. I am not here to justify or otherwise say their lack of response is justifiable, but I can strongly empathize with what I perceive to be a situation in which 1001 things must get done, and you're too busy to even hire a person to help. I've been there several times -- in spades! There are simply too many things to do, phone calls go unreturned, etc. I've even put down a phone with someone on it, and let it sit for almost two hours! If you haven't been to this level of time pressure, it's real hard to understand. I've not encountered a successful manager who at some point did not go through a period like this in a highly fluid situation.
And there appears to be no doubt about time pressure at GIFS -- audits, sale of CRIC, turnaround on IXMS, review of gold mine tests, plus all the other daily stuff. GIFS' complexity (mind boggling in some ways) of assets, acquisition opportunities (I've done acquisitions myself), and a range of other things just grab your day and wring it out. On top of this, GIFS management has to worry about shareholder value in the face of shorts.
If my perception is wrong (I suspect *at least* it has a basis in truth considering the pattern of activity at GIFS that we, the shareholders and few snipers, see), then perhaps we (actually, a handful of snipers) should consider we've made it less inviting for GIFS to respond (at least until they get past the current set of situations). This thread - intentionally or not - have impugned the honesty, integrity, honor, qualifications, etc. of many GIFS managers (not to mention a few fellow shareholders). There's been some statements on this thread that would have turned me off a long time ago, and I'm anything but thin-skinned.
BTW, I recently completed reading the whole 3400+ messages, and the trends in comments, sniping, etc are enlightening. Most people here are looking for information as well as answers to very healthy skepticism. Also, there are those with ulterior motives that can only be guessed at. Also, I've noticed that emotions come through the words, as in Frank's comments. (Frank, I am not picking on you.)
I have questions of my own. When I read emotional, frustrated words (as well as sniping), I tend to filter through it and look for value. Through the 3400+ messages, nothing has changed my decision to invest in GIFS. I am impatient for forward movement, but I don't take delays in getting information or responses from a company I invest as personal insults nor to I push the paranoia button. Good god, GIFS is trying to run a business (with apparently too few people for the current situation). Responding to even a few shareholders each day is tough (I've talked to other investor relations managers who don't have large staffs, and they point out that the Internet is hugely exacerbating time pressures as more and more people do capable and not-so-capable due diligence.)
Bottom Line: Management knows what it is doing. If I didn't believe this, or they did something out of character for a properly directed management, I would not have invested in GIFS or would sell it immediately at loss. But, my DD shows a positive pattern of a management motivated to increase shareholder value, if for no other reason than doing so benefits their personal GIFS stock positions, and equally likely (and important for long-term shareholder value), increases the value of the stock to a level where acquisitions are more easily done with stock (preserving cash for operations).
Sorry, didn't mean to go on so long. Frank, stay cool and hold on. As skeptical as I get about GIFS and other investment opportunities, my DD keeps pointing to a good outcome from all this frustrating interlude. Also, don't let the "noise" from snipers feed your frustrations (I remind myself of that ever time I read Craig and others, though I always try to come away with something of value.)
Good luck.
And the adventure continues... |
