In response to the almost daily begging for someone, anyone, to ring Lori, I think it's important that the current situation of our company be established.
I think everyone here will agree that should not be done verbally in a phone call, but surely the company should put out a written statement detailing exacty what the current situation is, does that sound fair?
The company has an active website, www.steliasmines.com which has a news section which seems appropriate for such an update.
As a shareholder I would like to know:
- The current financial state of the company
- Any negative working capital amounts, and to whom is that money owed?
- A list of current licences held, and their standing.
- A list of licences divested, when, and to whom, and at what price?
- List any other assets held, and their current value.
Vision
We then need to know Lori's vision for moving forward and creating shareholder value.
I would like to know:
- The next proposed steps project wise. (I.E. Drill Tesoro? Or A new project?
- How much money needs to be raised initially?
- Will any money raised be utilised to pay off existng debts? If so, how much, and to whom?
- What else will the money be used for? ( I.E. Drilling? buying a project?)
- What percentage of money raised will be put into the ground?
- What will that achieve? (I.E. number of meters drilled for example)
- How many shares do you propose to issue, and to whom?
- At what price will these shares be issued?
- Will management convert debt owed to themselves to equity, and if so, at what price?
I think these are far and resaonable questions to start with, and perhaps others may wish to add some of their own?
Once we have a fully compiled list Stocktr or anyone else can email it to Lori and ask her to post an update on the St Elias webiste answering these points.
At that point people will know her vision and understand her future plans.
I think it is only correct this is done in writing, to establish some trust, what do people think?
