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19/07/17
20:33
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You're angry because you bought in too high, endured the risky pre-financing stage while others hung back on the sidelines watching, and now the deal is clinched they swoop in and buy up de-risked shares for a pittance
Yeh, I'm in the same situation. But be fair, it's not the management teams fault that we mistimed our entry.
Originally posted by arsenic
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How come we're the one being sold all this 'blue sky' then and the latecomers got their fill at 7c.
Since when do the people who have taken all the risk in proving up the reserve get nothing for that.
I've been in numerous of these and never purportedly to be as badly treated as on this one.
It's exactly what I'm saying given the crap deal being pedalled I would prefer to wait for a desperate call for Zn from tailings, if necessary with little grinding no U/G mining and more debt. Some type of bootstrap financing. If the deal is so bad there has to be an alternative scenario discussed.
BTW you're wasting you're breath because from what I've seen of you analysis including SP expectation you have precious little idea of the fundamentals of how a share is valued.
OK we have to take a tough deal but not this tough. It doesn't wash and I am well aware of what will happen if they don't get financing. However, I'm no Neville Chamberlain and directors are expected to act in the interests of current shareholders. If they just won't do that and one had to retire then we have to exercise our vote. I don't think that will work either unless Buchhorn votes with us and he could only do that if he was off the board. Which is the move he's taken.
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