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07:56
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Originally posted by swarby
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Good post oznt. Was good to be at the meeting and hear a lot of questions. Funding is still an ongoing issue with clarification on the silk road funding now needing an equivalent amount held by WKT as what may be loaned. The contractors which need to be majority local won't be going on site to start any work yet as AM said. I got the feeling the BOD thought the meeting would be wrapped up in 1 hour with the usual motions but the voting and questions held things up.The first time I have been at a meeting with a poll called. Some of these polls came down to 49.6% for and 50.4% against. There were a couple of, let's say tense, moments during discussion. AM got a little worked up. There was a slide presentation but AM stated there was nothing in the slide show that we weren't already aware of. Due to non disclosure there were no details of possible funding deals or the structure of same. Some finance raising suggestions were made by shareholders. The 9-12 month time frame to production was queried and clarified. The issue of whether or not you could participate in the SPP if you sold shares and the wording of the SPP details were questioned, they caused some confusion, not only to shareholders but the board also, as they seemed surprised when it was pointed out to them. The 50% downgrade of SP by Pattersons was questioned and the comment that when Pattersons were involved with both CR's the share price effectively dropped by nearly 50%. From 20c in the previous CR to 10.5 and the latest CR from 17c to 9. The Pattersons spokesmen said that management "had their work cut out to get the SP back to 20c". Make of that what you will. He deflected some heat on the BOD at times by changing the subject.
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Thanks swarby … The Pattersons spokesmen said that management "had their work cut out to get the SP back to 20c". Make of that what you will.
No amount of hot air on HC can match the views of the institutions … never forget that! And start to play the game accordingly if you want to make money on this stock.
(20min delay)