Accounting is a business like any other. My experience with auditors is the price keeps going up year after year for no good reason and if you check around, you can find a firm that will do just as good a job for half the price. The news release mentions the firm was asking for extra fees so I for one think it's a great time to switch auditors.
I'm with you Eljay. My shares are all on the TSX by the way.
I agree kenj and ibwaiting2. However, although I like Diego a lot and have talked and emailed him many times, to be fair, I imagine he has made some mistakes also. So out of respect for Mr Chamberlain since I know he was friends with Dr Jones (and I don't know about Mr Fryer), if Diego suggested that I forgive them and use my votes towards keeping them on, I would strongly consider it. But I would listen to everyone on this board first. Like I said before, I am really happy that we've worked together as shareholders. That's what gives us at least a little bit of the power that we as owners are supposed to have. I think this board contributes much to this.
I agree kenj, but what if Jones and Fryer didn't at first see Pinto's true colours and now have realized that being involved with him was a bad idea so now they want to move forward in a good way? In that case, SP Angel would have the possibility of working out.
I'm still on course and just checking in. I'd like to agree with BREFT who said "With regard to Maxo's query to Aussie, I would also be interested to know if Doug Jones is a CC man, why he happily allowed Pinto onto the board, why he allowed him to have POA, and why he hasn't taken steps to have it revoked. I find this incredible." I find it incredible too. I think Dr Douglas Jones probably is a likable guy but to allow something like this to take place, Doug is a part of it. He (and Mr Fryer) allowed this very bad man Jaime to take control and he allowed him to have POA. In spite of shareholders protests and warnings. I know everyone wants to forgive Doug but I'd like to hear what Aussie has to say about this also. And even more importantly, I need to know that Doug is doing everything possible to get Jaime off the POA. We're still at risk until this is taken care of. If Doug wants forgiveness, he should show that he will do everything possible to make this better. By the way, I know what he's likely thinking if he's reading this - he's thinking that there's another side to the story - there were problems in Peru - we the board needed to do something. If that's what you're thinking Dr Jones, I'm not saying your wrong - it's just that the answer was not to take something bad and to turn it into a nightmare.
There has been more than one geologist who has said there could be as much as 5 million oz of high-grade gold come out of Ollachea. Projects like this should have a market cap of $450-$750million even with a low gold price as it is now. What's MIRL at - $15 million ish? That's 1/30 - 1/50 of its value!!! And imagine after the gold miner sentiment changes - another possible 5-10 times that again! And the community wants it to happen (if they're respected of course) and financing is available! This is worth the time it takes to learn all our options and fight dear fellow shareholders - For the community, for the employees, for the memory of Mr Chamberlain, for Mr Chamberlain's family, for the good guys who've had many sleepless nights, and for the loyal shareholders who have hung in there for so long.
Can someone else contact Otto please and ask him permission? It's from his subscriber newsletter like you said Andrew. With thousands of elementary schools in Peru, why in a bizarre email to Otto, would Jaime mention the one particular one where Otto's 9 and 11 year old girls go? What a pig!
We all need to write into the directors and demand that Jaime's power of attorney be removed immediately. Although he's not on the board any longer, he still has power of attorney.
Are you guys reading Otto's newsletter? Shocking!!! I won't be very conversational over the next 2 weeks since I'm on an intensive course starting tomorrow morning but please read it and discuss. We need to determine if there's anything we can/should do.
I'm not at the meeting by the way so I'm not aware of what's happening.
It seems that they disqualified Rio Tinto's votes last time and that's the reason for the adjournment. Hopefully Rio Tinto is there to do it right this time. But if they still want to sell to Mr T and if Mr T still wants in, then maybe there will be a powerplay move with a combination of For and Against votes to get a board that they/he likes.
I don't think it will be a quick meeting. What will Rio Tinto do with their all-powerful voting shares? That's the question. As for Jaime, I expect him to be very gone after today - I don't know what kind of trick he could pull to make it otherwise. The other 2 on the board can see how selfish he is being. The evil news release that Jaime did this week in Peru was a desperate move to help himself personally, no matter how much it hurts the community, shareholders, and public officials accused of bad things.
I'll make it more clear Maxo: Daryl - dumb and evil Jaime - just plain evil It's important that both of these guys are put far away from Minera.
The winner of the dumb contest is Daryl. Why not Jaime? Well, riddle me this - Why would Jaime (with his board's approval or without?) put out such an insane news release? Saying all the public officials have been corrupted? That's a good way to get your mine moved ahead into production isn't it? We're all sitting here asking "Has he lost his marbles?" No - Jaime isn't that dumb. Think about Jaime's situation now - He has enormous legal problems now. Because of these accusations of his activity with him and Elliot, people in his country are viewing him like a traitor. This could get really, really bad for him. Now what if he accuses other people of corruption - people who have some sort of connection to those who are charging him? Would that be a good strategy to get the charges against him dropped? I'm thinking it's the best idea he has. He's not acting in the company's interests - just his own selfish interests. However, Mr Robin Fryer and Dr Douglas Jones should have no part of this because it is so incredibly damaging to the company. Did Robin and Doug know or where they surprised also? They need to put a big distance between Jaime and Minera IRL fast or we're all in big trouble.
We should have a vote to decide which was more insane – 1-Daryl going to Ollachea where he knows neither of the local languages and announces that things are going to change or 2-Jaime and his board saying in this new news release that the public officials have been corrupted. (see incakolanews latest) Seriously, I wouldn't trust these guys to run a convenience store, let alone a mining company!
You asked for my thoughts ibwaiting and I believe it's simply going to come down to what Rio Tinto does. I think we all agree that we want: 1-respect for the community, 2-respect for Mr Benavides, 3-Mr Hodges to play no further part in this, 4-Mr Pinto to play no further part in this, and 5-financing that is fair to the shareholders. I sent an email to Stew earlier today to tell him something that I think might happen a little ways down the road - perhaps a month or two or three from now. To explain it here now would only hurt us so I won't do so. But the reason I'm mentioning it now is to make it easier to approach the subject with you all, my fellow shareholders if the scenario I described to Stew plays out. The shareholders have worked well together during this period in agreeing on what we want and I have confidence that we can do so again in the future. By working together in this way, I think we'll have success.
Still got em. Sold down a bit over the spring only because it seemed like it would take a while for financing, but still a big investment for me.
No Maxo. ibwaiting has investigated and thus has reasons for confidence. I have as well. But think about it - Since almost all the shareholders are on the same side, then for us to all chat and to lay all the cards out on the table on this open blog doesn't really help us does it?
We could go into detail about all the reasons why we have chosen not to have Jaime Pinto on the board and there are many reasons but that shouldn't be necessary. We already voted on that. Even though they won't release the vote numbers so far, there are rumors that well over 90% voted against him. This information needs to be released.
The directors put Pinto in as director a few months ago when Daryl was voted out. He can't remain as a director since 1-we never voted him in in the first place and 2-he was very overwhelmingly voted out at the Nov 26 EGM. He shouldn't be involved any longer. We need to insist on this.