Re: 2008 Toronto Resource Investment Conference
in response to
by
posted on
Sep 10, 2008 02:21PM
The company whose shareholders were better than its management
ebear, thanks for posting the e-mail address. i think my days of going to gold shows are over, too. i sent a letter to him, and anyone who wants to make use of it in all or in part is welcome to do so.
Dear Mr. Fitch:
Those of us who invest in junior mining companies do so in the hope of finding an exploration company that hits the mother lode. We're willing to take on those considerable risks to find an Aurelian Resources that goes from 40 cents to 40 dollars.
Well, I found Aurelian Resources before its discovery hole. I saw my investment soar by thousands of percent as it drilled one monster hole after another. And then Patrick Anderson and the Aurelian Board of Directors gave the company away to Kinross Gold Corporation for a small fraction of its value. To be sure, the officers of Aurelian were well compensated. They received millions of stock options while the rest of the shareholders were taken to the cleaners.
These exploration companies are long shots to begin with. And even if we pick the right one, management will act in collusion with other companies and/or foreign governments to the detriment of the shareholders they are supposed to represent. On top of that, the institutional investors, who should know better, go along with the scam.
So after the shareholders get sold down the river, Patrick Anderson moves on to become a director of Colossus Minerals, where they can begin the work of defrauding a new group of investors. This industry is rife with corruption. There is an old boy network that takes care of its own, and makes sure the profits go to the insiders.
I invested in the company that made the largest gold discovery in ages, I did everything right, and yet my investment came nowhere near reaching its full potential. So I ask you - if I can't make money on Aurelian, why should I invest in ANY junior mining company? Why should I attend your show or anyone else's?