This guy is a joke. Who is this "we" he talks about. The board consists of low level management types who have NEVER put a mine into production. Having wasted 3 years and a load of money he hints they are going forward with a plan they abandoned three years ago. The had the equipment to start small scale production but they have sold it to finance this "unfinished" feasibility study. What money have they got left? If he is so confident about the latest plan why doesn't he put something down on paper. The only skin he has in the game is his salary and expenses as he flies back and forth to Isreal. The shares that the three main bod's have they acquired at the company floatation and the extra they received, about 4 years ago, when the took into CGH three other mineral deposits which last year they revalued at zero. They don't seem to have any would be buyers otherwise he would have mentioned them. Time for Martin Andersson to act... Remove Dekel (CEO and the only board member we know for sure has sold shares) and Palmer Tomkinson (Ancient Chairman - who has probably already sold his shares but by a hidden trust). We should keep Alex (local in country fixer) and Linda (financial stability is important and she probably knows more about mining than Dekel does). The other board guy, Richard Something, brought in look after shareholder interests and approve Dekels remuneration is another deadbeat who no one has seen or heard of and is probably a mate of Dekel and Palmer-Tomkinson. Make these changes with a reputable and experienced mining CEO and serious Institutional Investors and PM companies would have someone who they can deal with.
Been taking notes and near the end he says we've instructed an Eng co to devise the starter project with Min Capex, a quick route to production and don't hinder the main project's future development. No timescales yet and do we need funding - I reckon we will.
He's obviously got so much skin in this baby that he isn't going to sell it on the cheap which surely is very reassuring. It'll take time, as you say, but the truth is out there - I mean the Benchmark has been achieved for all would-be suitors in the industry to see.
We are back to waiting with not long I'd say to get the new plan worked out and then funding for small-scale production in .....2017?? Meanwhile, looks like the sp will be stuck at these levels (or lower??) but then again one day someone might just come knocking on our door.
When that happens I intend to be still in this stock. Barring Krygyz political problems, inability to get funding(market improving now and Pog up), or bankruptcy, there's nothing to stop us - lol.
I am very bullish POG too. Do you have exposure elsewhere to tap into this hopeful bull run? I don't like just buying gold. What about the big majors? Or other minnows? Ur thoughts would be very welcome!
You would think so. You get the feeling that Chaarat will be quite binary - permanently low until they surprise us with a deal and it rockets higher. There is no doubting that the asset is worth a great deal but you certainly doubt whether the incumbent management are capable of realising that asset. I have a reasonable amount of hope that the future gold bull market will be so powerful that this will overcome the obvious lack of management capability.
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