I get the anger and i've sent my missive to management (which I'm sure they wont read).
But, to raise a counter point, though...look at what's ahead: raise finance and manage lenders, construct a mine (in Morocco!), start production, market product, run a mine efficiently, and make shareholder's profits...
I ask myself: do I trust the current crew to get this done? My big concern with the current management has been their ability to execute (and their ability to over-pay themselves).
I have bad memories of a name I once held that took a silver mine from exploration to production - and went literally broke within 6 months of starting production because management had NFI...
I might be on my own here, but I'm getting comfortable in the view that phase 2 in this can be handled better by some 'grown ups' who have done this before and who have access and capacity to fund.
Also, consolidation in the micro-cap mining sector has to happen...there are too many companies spending too much money and duplicating too much management infrastructure.
As I said on another post, I was involved with another name that PALA took an interest in. Look, their Private Equity, and PE is entirely self-interested. That said, I wouldn't put it so highly as to say that their interest is to tip KAS and its assets into a company destined for bankruptcy so they can pick over the carcass. But, yes, the 12% interest on the $1m loan is b/s...
For the moment, I'm watching
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