potential of an agoracom forum
posted on
Sep 04, 2008 11:30AM
SSO on the TSX, SSRI on the NASDAQ
directly above this post is a banner headline which most of us never pay attention to. today's says "revolt aurelian."
i am one of the hub leaders in the aru forum, and we have been involved in an effort to prevent a takeover attempt by kinross gold. kinross made what many of us consider to be an insufficient offer. unfortunately, aurelian's management, after receiving millions of stock options, "got in bed" with kinross and endorsed the offer.
we have used the agoracom aru forum to launch a media blitz to publicize our discontent. today kinross and aurelian announced that 74% of the share were tendered, a majority, but well short of the 90% needed to complete the takeover. the offer has been extended until sept 15, but even then they may not succeed, and could have to sweeten the offer or aurelian will continue to trade independently.
this has been an example of what retail investors can accomplish if they are organized, thanks to the web. by using the agoracom forum, we were able to defeat bay street and its cronyism, even if only for a while.
i doubt this will ever be necessary in the sso forum. our management here has no interest in being taken over, or selling out the shareholders. robert quartermain and is team are doing the hard work of building a mine, not selling out for a fast buck. that is the difference between a company whose management wants to build shareholder value, and one whose goal is to take the money and run.