"I find it sad that holders have let these trolls take the forums."
I understand your frustration, but I remember once seeing another posters signature line that said "If you don't hold, I don't listen" which I then took on as my attitude as well from then on.
The main cause of your grief is from someone that is critical of the lack of "skin in the game" yet he himself has none. lol
I feel it just a waste of time and only feeding the continuity of the unresolvable debate, they have their opinion you have yours. As you say "simples"
Sometimes it just looks like they toss bait and you bite... Sorry I said awhile back that you would be putting me on your hate list so just another reason to be put there!
As well as all of us saying this is a disappointing outcome, I would guess that Gary would not be over the moon with it either.
What was he to do?
A deal has not been able to be put together in time for Lochinvar.
He knows that offering the SH another SSP would be a waste of time & money.
The only choice he would have is going the way he did.
Then they would have had him over a barrel on price & as we know once a large sum of shares get put out for a CR the SP usually falls back to it pretty quick & they would know this and want to make sure they were protecting their own chances of making a buck, so what we got is what we got... The Negatives..
Further dilution of SH holdings.
Our SP even lower and therefore slower to recover.
SH now are not to sure that a deal will ever be able to get over the line for Lochinvar.
What happens next time we need working funds? The Positives..
We are now able to pay to retain our half share of Redmoor's next drilling phase. (imagine if he wasn't able to hold how the SH would have wanted blood)
With these funds it eliminate the uncertainty of how we continue for the ST /MT as we have been on the skint for awhile now.
The funds allows Gary to still look to put together a deal on Lochinvar that is not dictated by the other side, that may have known we were chasing funds prior.
The further we can take Redmoor, the more likely it is no brainer that it will be a fully viable mining proposition & even if some SH think Gary's not a good choice of MD, NAE will still make large sums of money once we start mining..
Yes it's still years away I can hear everyone saying it while I type this lol
I also think either its Gary, Subs or myself we could get this thing over the line as MD. "Simples"
I wish I had another 100 shares every time someone said Gary hasn't bought shares on any CR's therefore no skin in the game lol.
If he should ever get the flick from the SH's vote he will find it hard to manage anything more than a Macca's store, his resume will take a serious hit.
So tell me again he has no skin in the game & I may believe you.
Especially if you hold a few shares yourself...
I'm going to continue to hold as I'm stubborn like that.
Time for tea & some alcohol.
Cheers
NAE Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
(20min delay)
