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Gold/Mining/Energy : Flag Resources (FGR.A A)
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To: RJ2 who wrote (3712)3/22/2002 4:09:17 PM
From: hank2010  Read Replies (2) of 4269
 
I made a mistake and am trying to recover. I bought Flag based on geology and property location. As I studied the company, and found out more about the top management I realized that things would not move up until there was a change in management to meet Buffet's criteria of stable management and accounting systems in place. Flag has neither. The way they have lost claims due to negligence in filing assessment work, and had bank accounts seized by Revenue Canada shows how bad the accounting system is. The stability of management is called into question when you speak to geologists, just as qualified as the trio you mention, who tell horror stories about Murdo not following recommendations. Typicalis the story of walking down an abandoned railroad bed when he suddenly stops and says "We are going to drill right here" When questioned as to what azimuth and what dip, he has no idea and then suddenly pulls numbers out of the air.

The fortunes of this company will not change until the guy at the top is changed! Flag needs a JV exploration project with Inco or Falco or another knowledgeable major with the major as operator!

As I have said previously, you cheerleaders not only do a disservice to yourselves but to all Flag shareholders by supporting present management.
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