Welcome To the WIN!!! St. Elias Mines HUB On AGORACOM

Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE

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Message: New to the board

The audit committee has to address the travel expenditure and perhaps a report should be released to the shareholders explaining exactly the constituents of the full expenditure for the quarter ending Feb 2013. Also in this report, since the audit committee was established last Oct I believe, I wish to see what measures were implimented to mitigate this expenditure by this committee. I see where this committee approved an increase in our CEO,s salary at that time, where the SLI treasury was getting low an the industry as a whole was having trouble raising money. Should I need to remind the committee that this is a public traded company with a fudiciary duty to shareholders, and that a salary paid in an exploration company not only raises eyebrows with sharehiolders, but the Exchange as well, referrenced in the Corporate Goverance manual. As I would assume the members of the committee have been well versed in corporate practices and are well up on acceptible policy, along perhaps with security courses to enhance their professionalism.

I do know that the rough average of $7000 per day on travel in the time frame above does raise eyebrows with some representatives of the peoples, and perhaps starting to raise more. I also believe that as more accountables are refreshing their brains with Canadian law, that single representatives of governing bodies are finding out that they are not immune to acts of negligence. Not only can agencies be held accountable, but individuals of such can be also, unless they show considerable steps were taken by them at mitigating any risk to those they are/were assigned to protect. I am pleased to see some of these voted representatives to come forth and become accountable to the people that elected them.

I would suggest at this time, that any methods considered to raise monies be well substantiated, and if a PP is one of the methods, that a rights offering should be strongly considered with individual recipients of, be named in advance. Also, a detailed breakdown of the proposed expenditures be submitted to all shareholders for review, not an allocated amount, but an actual quote system.The quarter of Nov - Feb of 2012/2013, saw over $200,000 being spent on travel, then we see 6 months later, a property with an estimate resource that could value it in the millions, be arranged for sale, of a measely $100,000. I feel totally exploited with that announcement of the arrangement of sale. Also, I would suggest that the current BOD put actual monies in the treasury, absent of a share/warrant reward. As it stands now, the current BOD has very little invested interest and it does not ascertain any assurance nor insurance with perhaps the majority of shareholders. Also, all sample results on hand should be released before any announcement of any fundraising as well as any market making activity suspended. Also, I should mention that $90k was offered to the treasury to secure properties a few months ago, with the company response being that all properties were in good standing, not mentioning the perhaps fact that they were in good standing by venturing into the penalties stance of paying much more in the future, because of delayed payments. This could be percieved by some as misleading or with holding information, if it were the case.

Need I go on?

And, all in my opinion of course.

thank you

rick

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