Hi
@airconditioner
I certainly wasnt baiting you... Just saying what I have seen just as you holding a mirror back at me.
I haven't left Galaxy and am still hanging on..
You raise some valid points one especially about the fortuitous situation we find ourselves in however not all of us cannot afford to buy more shares so opportunities that you and others have cannot be reaped by all.
If venting my view upsets you so much it has me scratching my head... My posts actually were quite tame and reserved by comparison to what could'a or shoul'a been said.
You see to me and probably a few others reading this cannot afford to buy after what can only be described as a cock up. We have only been able to look on in horror and as you round about pointed towards grinning and bearing it.
Maybe I am wrong.. But weren't we all expecting something more after the consolidation than it was done to get us over $1 for funds to invest in... It will stop the shorting activity... And make the shareprice less volatile...
Maybe we could agree that the goal was not achieved?
Another slap in the face on top of this debacle is that management received a large amount of options.. Martin and Anthony notably received 4 million each with the shareprice only needing to achieve $2.78 by June 2020.
Let me ask you this
@airconditioner.. What kind of signal does that low level of achievement required give to investors?
$2.78 in ye olde Galaxy speak is 55.6c and it would appear was based on a VWAP post throwing out the anchor when we were well above 60c and doing a capital raising.
Maybe that well timed capital raising worked to their advantage?
Those 4 million options if they were converted would be worth just under $7 million each..
Not a bad little scoop after not completing 2016 shipping 6 months late after the mine that should have been in production wasn't and didn't come online until the end of the year resulting in the first shipment of 2016 pricing within 2017.
I understand that all the blame for Mt Cattlin was thrown at GMM when Galaxy should have had its finger on the pulse... You would think so having held a 50% stake in the asset?
The other thing that annoys me is that the capital raising may have been tied to discussions with BlackRock entering Galaxy...and from what I understand BlackRock have ALL of their shares on borrow whilst they have continued to buy more..
It's kind of like Galaxy sold its soul and its peeved off quite alot of investors.. Do you think I need to say me included?
If what I am saying has no rational backing then I take it all back.. But y'know maybe I am right?
Though I don't think you have ever said a bad word about Galaxy but the reality is that we are down 50% from our high.
But again... If what I am saying has no rational backing then I take it all back and apologise for having presented such a critical view of the company and how it has been operated of late.
Hopefully we see some news about Sal De Vida soon. Telling us about what works have taken place since that leaked video was filmed.
Hopefully we also see a clear timeline from the company to clarify to the market the various goals they have set.
Have a great day everyone!
