Be Involved in a Potential World Class Diamond Mine With No Money Down!!! What is this?
Well Well, what do we have here. Aber trying to buy a potential diamond mine with no upfront money down. Sounds like ABER officials read too many real estate books during the 1980's.
I donot feel sorry for ABER at all. When Winspear wanted to complete a $12 million dollar program, in my opinion, ABER should have taken this seriously and formally indicated their participation in writing. Previous financial participation by ABER was at a much lower scale, or not at all. Winspear was getting serious and ABER should have showed some respect if Winspear started paying the bills to get this work program organized.
Remember, ABER's lack of participation in previous years cost us shareholders at one time market share value. Newsletter writers starting writing that ABER's non participation in some things showed that the Camsell property was potentially iffy. As well, ABER did not want to be on the press releases. This hurt me in the pocket book, so I believe us shareholders of Winspear are entitled to an opinion. I believe ABER cost me personally $10,000 in market value by pulling out before. That is their perogative, but what goes around comes around.
You can't sit on the fence, and show up with the money after its all over. ABER should of put down at least a deposit showing some good faith and sent formal notice as to their participation. What does it take to write a letter and provide a deposit. If they needed to do some paperwork re their prospectus, corporate restructure or raise more money all they had to do was write a little note with an explanation and put a deposit down to show good faith.
Verbal commitments mean nothing when the stakes get this high. ABER's is ABER's out, sonner or later, if you want to do something and your partner is dragging their feet, you usually end up leaving them behind. If they cry fowl, so be it, ABER is obviously not to streetwise.
This is just my opinion. ABER is a good company, I just feel that they were rolling the dice and playing when they wanted to on their terms. It just caught up with them.
This usually happens in any partnership when you start losing money or are about to make alot of money. When nothing is going on and in the beginning, all partners are usually "lovey dovey".
I hope this is settled out of court with a small $100,000,000 penalty in favour of Winspear shareholders. |
