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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!
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To: Moe who wrote (3263)1/30/1999 4:48:00 PM
From: Lilian Debray  Read Replies (2) of 5206
 
More than any other, this Company desperately needs to rebuilt trust and confidence in investors and creditors. This is surely not the best way to do it.

Nobody begrudges anyone the right to look out for number one, but isn't it poor judgement on the part of a President to establish a pattern showing him consistently among the very few privileged beneficiaries of the most favorable terms on options, debt settlements and private placements? Aren't those practices divisive and indicative of the fact that the Executive has the wrong focus?

The excellent points you raise seem only to confirm that:
- If it wasn't for those guys, would the Company have been placed in such predicament two years ago? Would it be continuously walking a tight rope and have so much difficulty attracting and keeping the right people and raising finances?
- Who will participate in a private placement at $.55 or even $.30 while the President waits for the share price to be driven down to $.15 through his own inaction?
- What incentive is there to work for a Company in which the President gets options at $.27 exercisable immediately while the rest of the crew has to wait until the stock price is run up again to get worthless options?
- What investor will buy shares on good news if two years of precedents have established that the President will let the price fall back again for his own benefit?
- Why is the stock being diluted at this extraordinary rate for a single loan when the Company surely needs money for other expenses?

Just thumbing quickly through public documents, I can understand the concerns and frustrations of those interested in the future of this Company. A few days ago, we got a glimpse of what Kensington Resources could be and do. If only the Executive could prove that it has the mettle to achieve it...
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