Good to see you back MG,
Speaking of a little blast from the past, here’s another eyeopener to have with your morning coffee from BB. I wonder how many remember it … I sure do!:
…. I think we tend to forget how tiny this investment forum is in real terms. Could you imagine if a couple of whales came in and started feeding? I do sense some empathy coming out of Raul. He knows how frustrated we are. He openly admitted that management HAS HAD the ability to distribute our AUMC shares since last Dec. 15 but it wasn’t “the appropriate time”. His earlier reply to a shareholder stated that we’d know more “at the appropriate time”. His most recent communique to a shareholder contained this:
“We have spoken to legal counsel and we can proceed with allocation of AUMC shares since December 15,2019, however, we have not done so given we are waiting for work to be completed. As soon as it is possible, I will be updating everybody through our website, please check the news update section. I can only say that any delays on updates with respect to AUMC shares owned by Medinah is with the intention of benefiting the shareholder.”
We didn’t learn much more in the second communique other than “the appropriate time is when certain work is completed”. But he also stated that any perceived delays are with the intent of benefitting the shareholder. My inference is that when he rolls out whatever he is going to roll out, he wants to get the biggest bang for the buck he can for all of us. I think this might tie back in with the incentive to move the share price up prior to any need to raise funds out of the market for these lofty goals of Maurizio. A much higher share price would also give management more strength at the bargaining table when cutting JV deals with any majors. My recommendation would be not to entertain any deals for the early gold production opportunities at least until the production rates have increased and then plateau’d out.
It looks like the appropriate time is when certain work is completed. Management is strategically aligned with shareholders. (hi-lighted text is mine)
EM