Re: Goldex
in response to
by
posted on
Aug 10, 2008 11:28PM
Hello warrantlessbob
Sean said in so many words that Agnico got Goldex for a cheap price. That meant to me, he would have paid more.
My parents had been Goldex holders since the 60's and I told them the offering should have been more but the majority voted for it.
They continue to be Agnico-Eagle shareholders since the takeover and are quite happy hitching the ride along with AEM's success story.
I know that Sean Boyd is quite bullish on extending Goldex's mine life but I am unsure on what might be on his mind to make him feel that way. You might be right, he probably doesn't think too much about our royalty.
A few excellent drill core results from our royalty claims is all that it would take to get his attention if the claims already don't have his attention to some degree now. Higher grade gold does exist to some extent on the western section of the Goldex property where our interests are located or very nearby. So, it's not out of the question that Sean Boyd might be aware of something specific that Probe shareholders are not aware of yet.
The point is, will we ever know what they know? Or, will we find out about it after the fact? A few cases have been cited here in which royalty holder interests didn't receive a fair shake from the majority owner.
You're right, presently, about attorney fees. I resigned as a director of gold mining concern when other directors voted in favor of getting involved in a frivolous law suit. I just couldn't believe they all really wanted to do it. After I left, the board pursued the suit and in the end, they failed to prove their case. Following the loss they were counter-sued, lost again and a judgement was levied. What a waste of time and money.
I think I agree with you that getting involved with attorneys should be our last choice of action.