Hoghead, I too am heavily invested in this stock ( I have 100,000s ) of shares and am underwater like most here. I hear your concerns about management not being open about things as they should. However, I am content to believe that there are valid reasons for their silence regarding certain matters.
As I have posted before, what if Teck has asked us ( Cuu management ) to extend them some undetermined amount of time so that a partner could be brought onboard. If that is the situation, then what really could management say? Unfortunately, right now our best shot of a buyout rests with Teck so do we play ball with them while unfortunately keeping investors in the dark or do we just tell them to shove it as we have an obligation to keep our investors happy at all times? In the end which course ultimately benefits all shareholders?
Imho, I believe management is doing their best to reach a successful conclusion for all shareholders. I know many here and on SI are saying they are not and are ultimately working in concert with Teck or some unknown entity to drive down the sp. I ask you how does this benefit them or us? What proof is there that this is happening? On the contrary if this was the case then why did Elmer not readjust the last PP to reflect the current sp? These conspiracy theories just do not make any sense in light of the lastest PP, which again was mainly financed by EE at a sp 30% above the market. Do you think EE is nuts to throw away money like this and not demand a repricing of the PP?
Furthermore, if you don`t believe anything management tells you over the phone then just watch what they do and not what they say. What has DM, an inside director, done over the last few months? He has steadily accumulated over 500,000 shs. He has never accumulated this many shares in such a short time EVER that I can recall. Doesn`t this tell you something? Doesn`t this tell you that all the conspiracy theories spouted over at SI all baseless and unfounded. In my simple mind this tells me that the 120 day clock is ticking, that the FS has been accepted by Teck and that we are getting down to the wire on a favourable decision. My 2 cents for what its worth.
