My take on the situation is that over the 9.5 years VAN had its...

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Undaunted

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24/02/23

10:16

Post #: 66439750
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Originally posted by ssminnow: ↑

I understand where you're coming from Leroy, but there's a range of ways to look at the situation.
Bruce did fail to secure a fair deal with SGI...but it takes two to tango and SGI were more inclined to defeat VAN than to enjoy a dance with them.
On the matter of spending millions of dollars, that's the nature of things when you have and want to keep such an extensive tenement holding as VAN did.
Under Bruce's leadership VAN moved from a dying 1m MC company to what today is a 70m MC company. By any measure, that's a pretty positive result. He got paid to do that. That's how the world works.
As a relatively recent holder, I'm down...but am pleased to see the deal done with CYL and even more pleased to see progress between SGI and CYL. Today, my VAN holding disappeared enroute to magically becoming CYL shares.
GLTA CYL holders.

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My take on the situation is that over the 9.5 years VAN had its foot on this project, nothing fundamentally changed despite the tens of millions of dollars spent. The shares were trading between 8 - 10 cents around the time of the acquisition taking into the 1:20 consolidation in late 2014 and ended life at around 5 cents at which point VAN has cash of $1.2 million and liabilities of $2.5 million in loans and +$10 million in secured convertible notes. God knows what else was due to management, trade creditors, lawyers and various plaintiffs. No congratulations from me - just a D minus!

VAN Price at posting: 5.3¢ Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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