The dreaded "late Friday evening" announcement.
For years I've read the announcements after 4pm close on Fridays, praying that any company I own will not be there.
In 20 years I've never seen a positive late Friday evening announcement, most companies find it the best time to try and hide things, and to announce things they really don't want anyone to know, or things that might embarrass the executives or question their competency. Most of time the directors just don't have anything to fear, and so they should just be open and honest. I'm amazed at why they simply can't be up-front and honest, and state the clear reality.
I find it amusing at times why directors and executives seem to find it almost impossible to state the bleedin' obvious truth, as if they think it will reflect badly on themselves, or hurt them in some ways.
By trying to hide the truth, or put a spin on something that may not be positive, it just makes them look silly. Most people can't be fooled, most people are reasonably intelligent and intuitive. By trying to hide the truth, or put a spin on something, these so called intelligent businessmen just make themselves look like clowns. What are they afraid of? Would it make any significant difference in the long term if they just came out and stated the damn obvious truths that everyone can see anyway?
If I was these clowns (and I call them clowns now because of their lack of announcement clarity and transparency, and their lack of trust in shareholder intelligence) I'd just have come out and said the SPP has been cancelled because it was offered at 22.5 cents but the share price has been down to 14 cents and as a result we've had very little take-up of the SPP offer. It's not a big deal, why can't they just state the bleedin' obvious and get on with it, instead of making themselves look like spin doctors and politicians?
When was the last time the CEO visited Canada?
Patriot have 8 drill rigs running, why has CY5 only employed one (1) ?
Are these guys serious or not, because Patriot are obviously very damn serious?
Why has the CEO offered himself out as the major consultant to Auteco, doesn't he believe he has enough work to do here at CY5?
Or is the CEO just treating this gig like a lifestyle company, hence the hyperbolic and completely unnecessary words "spectacular" in the announcements, while only one (1) drill rig is employed, and him also going off and working for Auteco as principal consultant at the same time.
This simply smacks of him not concentrating all his efforts on CY5.
Shareholders deserve better, much better !!!
Like I've posted before, most investors and people are not idiots, and are not fooled, they are intelligent and intuitive people who know what is going on.
Most people just look at the share price, quite obviously, and see 60 cents down to 15 cents, and simply and quite logically ask "what has the damn CEO been doing at this company", because it's looking like a train wreck, and now he's hiring himself out as a consultant to other companies, and releasing late Friday evening announcements about share purchase plans being cancelled. WTF?
I'd say the company needs some new leadership change, and some honesty, and a CEO 100% devoted to THIS company, who spends 100% of his time on THIS company, after all, that's what he's being paid for here, NOT for having CY5 shareholders pay for his consulting time with Auteco.
The shareholders here deserve more respect, at least that, as a very minimum.
They don't deserve "late Friday evening" announcements.
Gw
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