I have been away for a few days and it has taken me a while to go through the huge number of posts. Anyone who has not read Hoov's analysis of Rosseaus submission should do so as he is right on the money. The Windfall comments really have me bewildered because although gold is down a bit, it has not decreased nearly as much as other commodities and remains a solid investment. The fact that Rosseau doesn't recognize the potential at Windfall is discouraging. The fact that he is willing to not spend money raised to specifically do this work at Windfall is scary. Investors put up money to have that ramp built and the property explored. Sort of gives you an indication of how he values commitment and responsibility.
With regard to budgets, it is impossible to believe that there is a problem with the lack of a budget. I would surmise that there is a disagreement on the plan that accompanies the budget. Page 4 of the Managements Discussion document states the company is shifting from attracting a third party interest to instead explore and develope the ROF. NOT's intent is to separate the ROF properties and continue to expand its land position. It doesn't say sell proproperties like Windfall, only separate. This is a building process, Rosseau wants a process that will make quick money, with no regard to the strategic investment and longevity. I have made a long term investment in this company and eventually I will need my money. However, I invested so that I would have a substantial gain. Right now I am at a substantial loss and if the board changes that loss will be set in stone because I fear that the enemies target price is certainly less than my price of $4.50.
The other thing I fear is that desparation is setting in with companies like Pinetree and Sprott. With their share prices dropping faster than the overall markets, any short term win will be a coup. If you have not voted, do so. This was the first time I have ever done so and it doesn't take any time or effort. Like so many posters have said we need to take control.
