I understand some people's frustration at the lack of progress. If you were not at the meeting, if you've not met DW, I understand the frustration, it's born of fear of losing their investment and they are correctly creating opinions in their heads that come from the facts, as they know them. They have not studied DW's attitude, face, words, voice, nor been able to ask themselves whether they trust that he is being honest about his belief in the future of the company and our prospects in Icewine conventional, unconventional hrz, Winx or Yukon Gold. They are unable to make a real on the spot judgement based on their instincts about DW's honesty as to the reason he gave for the failure of the drill this year, we who were there last night, did have this advantage, we who stayed on to avidly question, listen and provoke, did have this advantage and none of the 10 or so people I purposefully sought out for their opinion of the evening, felt that he was lying, hiding or generally trying to justify anything about himself or the company or their plans. Now, unless he is a hidden Ozzie Marlon Brando and all of us have our bullshit radar in a tizzy, then I for one am going with my instincts He's genuine, he really cares about making money for himself and for all of us investors too. This is rare in the corporate world. But putting integrity aside, I came away from the meeting feeling that all the prospects mentioned have a serious shot at making money and better business brains than mine felt the same, will they make money? No one truly knows with 100% certainty but dear God, surely one of them will come good....! Are they all doomed to failure?! if so, then we would be the unluckiest group of investors in history..it's possible they will all go tits up but really? Ya never know, but judging from just the almost 100% positive oil findings from exploration wells around our Winx prospect, well that really would be a bummer! Are there big companies sniffing around for a farm out? I and many there believe him.
As for DW's performance structure....Lazarus on Hotcopper asked if some one would clarify the 2nd and 3rd year tranches and so please correct me if I'm wrong, but I think he will receive his 6.4million share each year for maintaining the sp at that level of 6.2cents for three years and not if he tripled the sp each year, hope this is clear. So, he says he didn't make the decision and that it's the board following good practice, trying to make it a fair pay structure and when Mickey asked him about getting a bonus for taking us back to where we should be anyway, he agreed that it was not an ideal scenario, did he have an input in that decision? We are left to our own feelings of whether we trust the man or not. But here's the most important part, he distinctly said he doesn't 'need the incentive' and he ''ain't gonna resign' if he doesn't get it. He also explained how he deftly negotiated some deals, he's a winner. Good luck all.
88E Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
(20min delay)
