A Shot Across His Bow
posted on
Jun 02, 2015 10:35AM
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
This is a copy of a letter I sent today to our illustrious leader:
Dr. Smith,
I have no doubt that you know what you are doing, but I find myself concerned over the fact that none of your shareholders do; myself included. Who I am to you I believe is not important, but I will say that I own a substantial number of shares in your company, so from an investment perspective I would appreciate it if you would take the time to alleviate me of my general concern.
You seem like a very intelligent person, well-seasoned, and to the point, and I do respect that. Given your success at finding value where others have not is an impressive trait, especially when you manage to spin off these amazing finds to others and then continue to profit long after the deals are done; ingenious. Now, unfortunately I must get back to my request at hand. It is not that I wish for you to tell me all the secrets of your detailed master plan, only that you give me an honest view of where you are going, and how long it might take to get there.
Part of your vision would have me believe that your pinnacle of accomplishment would be that of your Magpie project, a resource that is so unique that it cannot be compared to the others you have under your watch. Any venture of this magnitude could easily take until 2025 to see any progress at all, and I understand that, unless Pangang comes onboard and signs a deal with you; have they? My fear is that they may leave you high and dry if this sits around too long and begin searching for a more worthy business associate to take your place, someone who is closer to them globally. This is something I think all shareholders would like to know, since this is the greatest treasure within our resource portfolio.
I am going to stop short here, and avoid telling you my lengthy views, for I don't know if doing so would change anything, I can only hope that your next move strengthens my faith in your company. Many of my colleagues have asked me why I have not dumped a portion, let alone all, of the shares that I have in Fancamp, since they view my long term investment as quote, “Dead Money”. So, Dr. Smith, the question I have for you now is do you have the common decency to respond to me as a valued shareholder, and tell me that you indeed have a plan for Fancamp that is worthy of my continued investment, or should I sell and go elsewhere. To put it bluntly I would like to know that I have chosen the right company to invest my money in, with the risks and rewards that are well worth the gamble you yourself are taking.
Respectfully,
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