Here I thought all you guys went away when SMH fired Agoracom for posting comments they received from Management. Interesting how Bending can give Agoracom details that have yet to be released etc., and then when they get posted the company goes into a nose dive, panics, Agoracom takes the details off the site, gets fired, and Bending goes on walking down the street.

McRae quit on Wednesday, March 31, 2010 via email to all of the Board and Officers. Note the financials still report him as a Director even though they knew he had resigned. The company sat on the news until it was released and buried it in a news release about another property. This I understand was at the direction of Bending after the corporate lawyers had told him it needed to be a stand alone news release. Go figure. What hurts is that there are or were only four people in this company that had or have any business sense. The first to leave was a fellow who left because his own business deals needed him and he could not spend enough time on SMH, then McRae leaves (and I understand it was a direct result of Bending), which leaves Jenkins who I do not think really wants to step up to the plate but makes a good board member with his insight and knowledge, and the CFO who is simply just that. The CFO does not run a company but verifies financial information for the Auditor and I would bet that he has just about had his fill of the Bending O'Gorman tag team. The other director Terrance Shorn (?) is a nice old geologist with some good skill but not a dynamic factor on a board. The office is a mess with absolutely no leadership.

What this company needs is a true and blue General Manager type who can act as a buffer between Bending and the Board and actually say "no" to Bending. Someone who can assist in getting the facts together and create a management plan and a budget so the split can happen. This company I do not think has ever shown a budget for anything including the simple running of an office. Note - the financials show only $300,000 in hard cash so that will run out asap and I think that there is an IOU or debt in the company for that amount.

Looking forward the company now needs $1M hard dollars to get it to November and when they would like to see the split take place. That is a lot of money for a company in this shape and it has to be hard cash - Dale Wallster is probably laughing his butt off right now. Why you say? Because if I was Dale I would be plenty upset with the management of a company that is showing like Shoreham is, especially if I had invested like he has into it. It would be my guess he is just cleaning off his guns right now in getting ready to take this dog over for pennies, or at your and my expense, - simply buy it out right after he lists his company and take it all over. And he could do it as he would get a vote from his own holdings and friends close to him. Maybe this is why the Sardine Hill news was released finally to help raise some money and force the first wave of cash out of Mulgravian. That Sardine Hill definitive agreement was a done deal back in January but the company was holding it back for a reason. The AGM confirmed that from what I heard from attendees.

So maybe - just maybe - that is why you see GAB and DAB holding hands again.