This use to be a $1/2 billion company, where the leaders held bigger stakes...promoted with excitement ....and shareholders rallied at events such as the AGM. They were leading the charge in the ring of fire.....and they sang about it. As a shareholder, you felt that you mattered....there was an eagerness to share with everyone what was being done.....the excitement was contagous.
You knew that when you were getting the news....everyone else was getting it at the same time.....and the news was steady....and there was lots of good news
Everyone wanted a piece....people were paying up to get in on a PP
And the other companies in the ring....they all benefited....and their shareholders benefited as well. Companies like FNC, PRB, UC, KWG, SPQ, FWR
Since this bunch took charge many things have changed...
First they got rid of some people.....then, they got rid of some gold....wasn't much...I think about 1.3 million oz
They tried to take a run at an old friend.... (FWR)...who got swallowed up..by the competitor.....for $270 mil...and to think we took a run at them and now we're .....what ....about $75 mil...funny stuff...and they gave....was it 1 share for 4? Anyways....didn't quite work out for those that took that deal...and I think they were trying to put a value on some....like $4 stock options....something like that
Then another old friend ....where SPQ was put up against KWG....and SPQ got swallowed up as well...by the competitor again......I believe that was for $125 mil....and KWG was left to think about their resistance to the takeover.
Then UC....for 8 mil....but let them keep their horse and mule gold find
PRB moved on to their gold property....think they're bigger than us now too
FNC....think they might have caught a bit of what we got...something nasty
We don't hear from the management much. Oh the head guy, well he makes some speaches once in a while ....doesn't creat much excitement really....actually seems like the stock goes down after every one of his speaches....but people do comment that he's trying....so I guess it's ok what he makes...you know...pays himself....and his possy too. Not too sure what their all doing....heard they missed the golf thingy this year.
I got a call the other day from an old friend.....someone who had an investment here....before....but, not now. He was commenting on the salaries of the HR staff here ...and others here to....impressive.....for a junior he was commenting.
And he also commented on how few shares our leaders own....well, besides all those stock options....the one's under $1. He noticed a couple big players and asked how they got in....sounded like a pretty good deal to him....30% given away so far....with the feeling of another financing coming soon....well, to pay them salaries....or maybe just more stock options...10% is it?
He also mentioned he heard the government was involved now too....and chuckled....and the natives too
So....he's not invested now...but, he's still watching....cause them grades....they were pretty darn good...some people gonna make lots of money
Things sure have changed
