I think you are both being very unfair. The BOD deserves enormous credit for realising the potential so early for this whole area, and they were well ahead of the majors. They have also run PCL on a very tiny budget so kudos to them. From their shareholding they are being well rewarded as well and fair enough. While there are legitimate questions of some of their actions, or inaction, regarding keeping the tenements in good stead as noted by Pottermore, overall at some stage I expect that we will all be well rewarded.
For me, the issue is not the past actions of the BOD. The issue is simply is the current BOD the best to take PCL forward. The answer IMO is a resounding NO.
I do not mean to simply chuck the whole BOD out, but they definitely need to bring in some corporate experience to take PCL forward. Vesna has proven she is not capable of this and should be replaced ASAP. I hold her primarily responsible for the option agreement. The rest of the BOD are O&G people. Vesna was meant to be able to read an option agreement and pick up some very basic issues with it. Iain does not bring the necessary corporate experience as many of us saw at NWE he will take the $$ and run.
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