Re: 3 meetings...Sentiment and Future
posted on
Mar 23, 2012 10:33AM
(Edit this Message from the "Fast Facts" Section)
Yes, there has been a real souring on this board- and not for no reason. That last PR was the final kick in the crotch for those of us who had believed the crap about grades, recovery rates, and the amount of revenue they would get based on that information. If they indeed have been running at only 20% recovery for 2 years, that's probably $10M potential revenue lost. I'm not opposed to dilution per se, but that's a hell of a lot of dilution to pay for having PQ's kid running things. It's not just his salary, but what it cost the company in revenue, delays, dilution, etc. I'd much rather see PQ just take a larger salary and get DQ and CQ out of the picture. Would have cost a whole lot less to pay CQ to stay at home and hire a real mining expert to run the mill.
Soured on the resources in WEM? No. Soured on the potential that I expect SFMI to reach? No. Soured on the nepotism, ineptitude, dishonesty and lack of respect management has for shareholders? Absolutely. Did I want to see that happen? No.
Pic, I appreciate your sentiments, and admire you for being able to stay focused on the long term. But some of us don't have the luxury of being tied up forever. We had believed based on what managment was telling us that things would have gotten better long ago, that we wouldn't be sitting here sub 4 cents. If management had been honest, I would have invested in SFMI much differently, and would have had multiples of the number of shares I have now.