You truly are an enigma wrapped in a quandary. I noticed on the PFG website that you jumped in quickly to remonstrate with some poor schnook who posted a rumour, and you made this statement: "All of this will be announced in proper time, and through the proper channels, and not merely to satisfy anxious chatterers." This sounded to me distinctly pro-management. The question I ask, and you should ask yourself, is, why if there was nothing to it but an unfounded rumour, was there such a hostile response by T. Shrake. Why could he have not just answered that the rumour was false and that management was not manipulating the stock. It seems to me that his reaction fueled more suspicion than if he had remained calm. I noticed another post by you later running interference for management and now on this thread, so I'm curious.
You mentioned a while back on this thread that you found it very informative. You too have become one of the "chatterers," I see. I'm glad you joined us, but if you have the time, you should go back a long way on the thread and get a feel for what the shareholders have been through, and see the many unanswered questions that have given rise to some of the less-than-adoring fans. I fail to see what is wrong with answering questions, or even rumours, put to the management.
I'd suggest that you read the Mongolia thread and see how management can do it right. Dr. Dave Webb. with a PH.D in geology and who is President and CEO of that company, has never backed away from tough questions, and God knows he has had many. He has had all sorts of negative, even scurrilous comments thrown at him, and very tough questions asked. He has always answered in a calm and in as thorough a manner as he possibly can. I admire that kind of management and feel that his honesty, his knowledge, his tenacity, and the properties will prove to be a big asset and will deliver the shareholders a great return on their investment in the future because of it. I never heard him threaten people with lawsuits, and this game has no room for thin-skinned people. Yes, everyone can sue for some reason or another, but this is a different game and most management let things go by.
Because of the notorious past that mining companies and insiders of many of those companies have had, there is no wonder there is so much suspicion. Most mining companies realize that and feel it's part of the equation for shareholders to be suspicious. It certainly is not without foundation. For a real good education on the scandalous past you should go to Adrian du Plessis website, the Master who has ferreted out shenanigans played on the VSE for years, and read it. It will give you some idea of the extent to which shareholders have been cheated in the past and how it was done. I have other materials that you may be interested in to educate yourself on the extent of the problem and how it's done. Then you may have a better idea of why shareholders are innately suspicious and question management. Not just so we can chatter, but so that we can try and change the equation, from the cards all in the insiders' hands, to one of equality for us as well. Information is king and without timely information it is useless. Right now, for instance, insider trading is not posted on the VSE for at least a month, and by that time it is useless information for the shareholder. Too much is information that is given to shareholders in such a delayed fashion that it has no value by the time we read it. With the advent of forums like this, I hope that some day investors will have the benefit of knowing immediately, for instance, when the insiders are selling or buying. That would help us but not them, so the companies would prefer the status quo.
Check out the "Hard Rock Analyst," as well, on his website as he has done some great essays on hanky panky in the game. You can look at them for free.
Sorry if this sounds like a lecture. It is not, but sometimes when you come in at the middle of the show, you can't understand why things are like they are or what the plot is, so to speak. I also understand that you came from management of a resource company, the other side of the coin, but perhaps you were not in the inner circle and hence did not enjoy the prodigious benefits of the inner sanctum.
Actually, all shareholders want from any company is a little honesty and some straightforward answers, as well as the sharing of information that they have in a clear concise manner. Not answers that only breed more questions. What is so damned difficult about that?
If you're interested, I'll find the bookmarks and get back to you. I really recommend them as a must for any investor.
Cheers
Shirley |
