GGY 2.41% 8.1¢ glengarry resources limited

vote yes or no

  1. 379 Posts.
    Hi everyone one,

    What I would like to do is start a new tread and tell anyone who subscribe to HC why I will vote NO to the sale
    I also urge everyone to contribute to the thread with similar or opposing views.
    Even if we do not agree with each other at least, we might be able to throw a little light to this whole controversy.
    Before I start, I feel that we should all VOTE either yes or no that is the only democratic way out of this quagmire.

    To begin with I am a trader/investor
    In the past I have bought and sold GGY and made a nice little profit
    The main reasons, I have kept GGY’s shares are as follow:
    For the last 2 years our CEO and Chairman have been advocating the mining issue very strongly. Just about after each announcement I kept on topping up, again, because of the strong language re the mining of the assets, from GGY.
    When our Friends KZL decided to buy into the company, I firmly believed that they may be the partner that GGY was looking for to mine the site and even though management did not quite say that, they inferred the proposition that KZL is the great saviour.
    What I can not understand, is that a company can keep telling their shareholders that mining is virtually a foregone conclusion for as I quoted a period of 2 years. Yet take a completely opposite view and sell the asset within 2 to 3 month
    Every time I approached the company, to allow us at our expense, to put our point of view to the shareholders re the No Vote it was rejected, citing that the Independent Expert will be putting the case to the shareholders.
    On another occasion when asked if we could relay this information to the Independent Expert, that was also denied.
    On page 26 of 32 of the Independent Expert report submitted to all shareholders, under the Main heading APPENDIX A and under the heading of Reliance on information
    The Independent Expert have quoted: In the preparation of this report, we have relied upon the information provided by the directors and management of Glengarry Resources. However, we have not endeavoured to seek any independent confirmation in relation to its accuracy.

    There are many other issues raised with GGY’s management through their CFO that I will be putting forward to this discussion at a later date

    I am also asking other members of HC to put their 5 cents in, and in all fairness either for or against the NO VOTE

    Regards,
    Tony
 
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