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03/07/14
11:42
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Originally posted by Metalduster
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Sisyphus
It all comes down to I.G. imo When the sale goes through whats of more value to him.?
Cash in the bank and grand plans with it?
or having concerns for the Long term Shareholder with a distribution?!
Using a figure here 200m(Sale) for example in AGS's Bank, they're(AGS Directors) are sitting pretty for the rest of their lives imo
The share price would mean nothing and the shareholders selling out for what we can get(share price wise), would be of no concern to them either. imo
What have they got atm Chile and a couple of other small explorative projects?
Sure they can make acquisitions with any return on the B4M asset but that only helps them, again?
What needs to happen is all the sale proceeds need to be returned to Shareholders. imo
I.G. needs to step upto the plate and show some character!
We were put in this position by I.G. and his fellow Directors, let us get out with a dividend paid from the entire sale return and then they can please themselves with what they do with AGS.imo
One thing is for sure and certain, we shareholders need an explanation of how he/they've turned a
Company with a World Class Project into a joke! imo
I always posted that the strength of the Court Case was the key. I also knew if they did not go through with that Court case(with AGS pulling the plug), we were doomed.
All the AGMs, all the presentations they were stringing us along. Did they ever have a case?
I don't know how the J/V was drawn up but it appears that it was heavily/entirely in favour of the BBros. How smart were the Director/s who signed off. Who was the actual AGS person who signed off and who were AGS's legal advisors at the time?
The AGS Directors can continue on in their lives with little loss and forget about it but the Long Term Holder suffers for the rest of his days. imo
I still cant believe this shit.
Md
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In my 15 years of investing in miners I have been through this scenario before. The management get more from a sale by extending the life of their jobs and bonuses for 10+ more years than they do from losing a large portion of this money to rewarding non-management shareholders. What I do not completely understand is the role and extent of power of I.G. in this company. If I had a better understanding, I might know better what to expect; otherwise, I have seen this movie before and do not care to see it again.