Bob Vassie retiring, page-9

Exactly !

Cash flow is king when times get tough. And times are starting to get tough. I've never thought that these guys were serious about mining. But wanting to prove up resources hoping that someone will come along with a fat cheque book & buy them out.

But the way that this is going they will get picked off on the cheap. The lower the share price the greater the dilution when a capital raising is needed. The major holders have not participated in the last couple of raising's. So with each new raising that they don't participate in the concentration of ownership gets less & less. That will open the door to an opportunist. Especially as i wrote this morning if the new MD of Saint Barbara decides to pull the pin on SBM's 16% Peel holding.