Where did all the money go? Frustrated...
posted on
May 15, 2013 04:06PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Frustrated, I am.
In business, I have seen pie charts with costs of different items identified as a 100% of costs. I am sure you have too and would love to see a detailed pie chart from this company (AUM) of where all the money went compared to when the shares of Golden Minerals was ~ $26.00 / share in November 2010 and its pitiful value today May 2013 when the share value is at ~ $1.50 /share. Disgusting. Where did all the money go?
I am particularily interested in the management renumeration and labour costs to run this business. WAY TOO MUCH $$ SPENT HERE!!
I feel as if someone isn't fulfilling our shareholders expectations of getting the best value for money being spent and are fulfilling theirs (getting the most pay and benefits they can get away with.) I think management of AUM needs to have a forensic audit done by an outside party. I just can't believe that in less than 3 years the value of this company has gone, I repeat from $26 / share to $1.50 / share.
If I was a Manager of this company I would be ashamed, really ashamed. I hope you are humiliated to be reading this. I know you can hear me....
All the old company executives {those over 55 years old} (everywhere) should retire and the companies give some some new college graduation kids with a couple years in the field a chance to prove themselves. Time for the old farts to recognize that they should get out of the bathroom and get some new eyes back into the boardroom. Their leadership days are behind them. Go play golf you deserve it.
YOU HAVE TO CUT COSTS OR BRING MORE INCOME IN; IF NOT, PUT UP THE BARGAIN "FOR SALE" SIGN UP AND START AFRESH.
The whole mining system here just isn't working the way it did in the past and should be doing in today's economy.
Is there no accountability anymore? I just don't get it.
Shareholders need to speak up at the AGM's. Frustrated, I am.