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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (46637)	8/8/2007 11:37:46 PM
From: ogi	Read Replies (2) \| Respond to of 78426

Hi DAK: I think the difference in our view is highlighted by your statement: "Well, if management owns a controlling stake in the stock, then they are selling themselves too cheap... but at least they aren't selling others peoples stock too cheap." I believe the exact opposite, management is not selling too cheap for them but by the strength of their control block they are indeed selling other people's stock too cheap. I have no idea what the average price paid by shareholders is for PMI, and I have not researched the prices paid for shares by PMI insiders. Therefore my comments are a generalization. Our divergence of views is simply that I believe the Insiders of PMI are selling at profits many many multiples richer than the average shareholder will realize. These shareholders were persuaded by management that they were investing in a company intent on building a richly profitable specialty metal mine. Based on typical paperhanging within the process of bringing a jr vse stock forward, the insiders have .10,.15,.20 cent shares, ipo shares, warrants and options. As I understand it they control 55% of outstanding shares, they control the destiny of the co. and that bestows a moral and ethical premise of exemplary stewardship, a given for any management regardless of shareholdings. So, you are correct that someone buying at $2 is making a great profit but they bought the stock based on a business plan that indicated far greater gains than those they will receive from the buyout. Meanwhile, the buyout gives the insiders gains far greater than what the business plan promised the average shareholder even if it was successful. In short, the insiders realize enormous gains by abandoning their stated business plan, to an inferior bid, because their profits overwhelmed their desire to continue their business plan regardless of what they had been promising other stakeholders. I sincerely hope this rant is not as garbled as I am at the moment and truly hope it proves cogent in the am:) Cheers, Ogi