I have been a share holder for several years now.
Initially I was floored by the BoD's first action - although thought something like this would be likely after reading the false statements put out by Rooo - so prior to the vote.
Then I looked around and thought - there is nothing keeping me here - why stick around to be bullied? Is there a chain around my ankle? Nope - I am free to fly to whereever I please - I have chosen to stay.
So after my wife beat me up a little with "why didn't you sell at $7", and a few stiff drinks - I started to wonder, why would these "big boys" fight to take control of our NOT? Simple - right - to make money - and I don't think that they are interested in making 5-10%.
Now that leads me to the issue of dealing with the PP when we have a years worth of money in the bank....is it really a case of "bend over the retail investor" or is it something else. I'm sure none of the BoD members are upset at getting a load of options at way low prices, but I came across this info this after noon:
"The chairman of Goldman Sachs recently said we are facing a banking crisis worse than the Great Depression. The former chairman of the New York Stock Exchange said it is comparable to the Great Depression."
We are looking at some really challenging times ahead in the banking industry - so as pained as I was initially about the PP - in light of these predictions form folks that are always bullish in financials - I might actually sleep better at night knowing that we have enough food for Johnny and June to keep going for the next couple of years.
Only time will tell if the BoD is like a wise old owl or a snake in the grass.
SD
PS. More massive sulfides under E1 - this is what we have been dreaming of!!!
I would love to interview all the players to write this story - big score II (naw not accurate) Personally I like "The McFaulds Lake Pirates"
