Re: I want this management team
in response to
by
posted on
Aug 27, 2008 07:33PM
Camino Rojo Mexico : In-situ - 4.0 million ounces gold; 68.32 million ounces of silver.
I respectfully disagree with Buck and his feelings about the CPQ management. By slowing down the drilling until the 43-101 resource estimate is released and until the seasonal summer slaughter passes, keeps money in the bank and allows for a careful examination of the geophysical data that is being collected on the targets that have been identified beyond Represa and Don Julio. Will the 43-101 resource estimate and its recommendations support continued expenditures on drilling on Represa and Don Julio or recommend movement to increasing the activity on the other GP targets? They and we won’t know until it is released. A pause only allows for events to catch-up to what has been a full-steam-ahead drilling effort.
Slow return of assays is a reasonable explanation for the hiatus in NR, these guys have always been careful and thoughtful in their approach to their handling of news releases, to suggest something sinister is just wrong. I suggest that the pending DD results will be out soon, within a month, when the seasonal slaughter of the POG and Venture shares abates.
IMO, a pause in drilling allows for the resource estimate to be completed (end of Sept-early Oct) and for the company to promote CPQ to institutional and large investors. Many have said that in this terrible environment, good news can be met with indifference and have little affect on the sliding movement of the SP, our stock is not alone! Caution and thoughtfulness in the midst of a storm is prudent IMO.
Charges or repeated suggestions made about the misuse of CPQ funds on other projects, benefiting other companies are serious, dangerous and irresponsible without a factual basis. Being dissatisfied with the choices being made by CPQ management and expressing a difference of opinion is just fine in my book, but to make charges that the CPQ management is violating their fiduciary responsibility to shareholders and violating their own "Code of Conduct" at the expense of shareholders is not a proper use of this forum. Disagree with management... OK, go ahead, this is an open forum. But I think there is a limit...
Buck posted: "Again in my opinion, and getting back to the possible conflict of interest I've mentioned in the past but how do we know that are drills and cash aren't being used by SSO? Management screwed SSO out of their cash by putting it in ABCP? How do we know that our resources are not being shifted over there? Has anyone heard of an idle drill in the last three years? Gimme a break."
IMO this is reckless speculation that in itself hurts shareholders and the SP. Either post some factual basis for these implications, and not something that was done in the past by SSO, but real actions that you have knowledge of or drop it. Wild speculation implying criminal misconduct is a misuse of this forum.