Well that was a spirited and emotional conflict. LOL.
I guess that both of you fail to realize that the entire band of crooks was replaced by new management, and board members.
In fact there is some humor in the nature of the replacement. Robin Slaughter brought in a new board member, and he brought in some more board members who in turn tossed the entire group of old board members and management. So Robin brought in the guys who hung him. In my opinion, Robin was toxic. A very bad Aussie.
They then rolled back the share structure on a 1:5 basis and re-financed the company. GML had just under 300 million shares out and ran up to $1.45 on Condor drill results. There are now 58M shares FD and the stock is trading at about 8.5 GML cents, so there is probably a bit of upside as they get closer to drilling next to FDN.
Take a look at previous area play mkt caps at their peaks, say FIS when it went over $1.60 next to HAT, or FNC Fancamp when it went to $3 next to HAT and never even announced any intent to drill, the list goes on and on. EC's mkt cap is around $25M
Quit scrapping and look to see if the greater fool theory applies here, and get some free shares in case they actually do hit next to FDN. The fear cycle in Ecuador has got prices ridiculously low, and when Kinross gets permits and starts drilling, the greedy hordes will likely take a punt or two.
You really think $25M is going to be the top of the only area play on FDN? Not as if there are any other area plays to dilute the spec money.
Maybe both of you guys should take a look at the new board and management bios. These are not the usual low urgency, salary sucking Venture populated group of worn out Canadian geologists, accountants, promoters and lawyers who live off extra slow exploration programs, excessive salaries, company vehicles, annual options and cheap PPs.
www.ecometalslimited.com/corporate/
There's even a former Executive Board member of NM Rothschild on the new board.
So Eric got ripped by the ex GML team and hasn't looked to see if they are still around, so he says RZ is a dud, and Ralph doesn't even bother to bring up the discrepancy.
I agree with what Eric says about the old team. I was lucky enough to meet them at a Vancouver Resource show while the stock was still quite valuable. I sold at the open of the market that next Monday. Saved me a lot of money.
There will be buyers who want to get in to gamble on them hitting on the structure 500m west of FDN in the same pull apart basin. I'm not saying they will hit, I'm saying that greed will make this a good trade before any assays are returned.
Kinross is in the same boat waiting for final permits to start their exploration drill program at FDN. Read the FDN tech report. It mentions surrounding geology as well. Just use the Edit Find function and plug in GML.
BTW, I think Condor is a dud as well, but they can probably vend it off to some old Canuck retread promoter for decent cash.
I've talked to them many times and expect to see some debt financing from a Brazilian bank to start an upgrading operation for the massive manganese tailings deposits they seccured while Ecuador was frozen.
There is no reason for people of the calibre of the EC team to be slumming around in a Venture stock unless they know they have significant upside. It is not as if they need the day to day salary.
Daniel Major's previous position was as CEO of the resources unit of Basic Element, the investment company owned by Russian billionaire Oleg Deripaska. He's just back from meetings with Brazilian and Ecuadorian government personell. Give him a call and ask the tough questions. I talked to him while he was in Sao Paolo last week.
basel.ru
The EC management and board guys are very connected, and cover all of the disciplines necessary to succeed in production and exploration.
OK now you guys can start Round 2 Ding Ding. |
