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Dacha Strategic Metals Says Tye Burt Isn’t Qualified After Losing $2.49 Billion For Kinross Shareholders – AGORACOM Agrees

Posted by AGORACOM at 10:40 AM on Monday, November 5th, 2012

It seems like Tye Burt can’t build a company on his own.  Rather he prefers to act as an opportunist, as was well documented in our very heated and public battle over the Kinross “take over” of Aurelian Resources.  Despite the unanimous “approval” of an Aurelian Board that happened to stock up on millions of options just before the Kinross “offer”, the AGORACOM community fought and battled Kinross into renewing their offer several times before obtaining the requisite number of shares … an industry first.

Tye was so confident, that he gave Aurelian investors a warrant to purchase Kinross shares at $32 … when it was trading around $18 … and attached a value to that warrant that made up a good portion of the ridiculous consideration Aurelian shareholders received.  So how did that work out? It never got over $24 and expired worthless:

Now, had Tye taken Aurelian and built an even better company for the benefit of all, you could argue the move was the right one.  Unfortunately, Tye was such a bad CEO that Kinross tossed him after – and I quote the Dacha press release below:

“Mr. Tye W. Burt was terminated as Chief Executive Officer of Kinross Gold Corp. after presiding over a reported US$2.49 billion loss related to the acquisition of Red Back Mining, the largest single loss in the company’s history.”

Here’s a little more imagery to help drive the Dacha point home:

Now, if you didn’t know these facts, you’d have to consider the possibility that Dacha management are simply saying whatever they can to keep their jobs … but now you know better when you read the following Dacha statements below:


The most troubling part of the press release below is that the dissident group which proposed him as a board member secretly acquired shares, despite good faith negotiations by Dacha management to agree to a compromise without a battle for the board.  This comes as no surprise to me.

Dacha shareholders be forewarned, if Tye gets his hands on Dacha by squeezing out this board, you stand to be the next ones to be squeezed out.

Last Friday we were notified that a group of four shareholders is trying to take control of your company and the value of your investment. The group, which includes funds managed by Goodwood Inc. (“Goodwood”) and Salida Capital L.P. (“Salida”), seeks to replace the entire Dacha board with eight connected nominees at the annual and special meeting of Dacha shareholders, to be held on November 28, 2012. In addition to Goodwood and Salida, the group also includes Takota Asset Management Inc. and Longford Energy Inc. Their actions have launched a costly and distracting proxy contest to advance their own agenda rather than the best interests of the majority of Dacha’s shareholders or Dacha.

Your board opposes this initiative for the reasons detailed in this Circular. Join us in voting the BLUE Proxy to stop Goodwood and Salida. We believe Goodwood and Salida are attempting a coercive takeover of Dacha and its valuable assets, without paying shareholders the premium they are owed.


The rare earth element (REE) business is a highly specialized and complex international market, with no open and transparent exchange supporting REE transactions. The market relies on trusted relationships with professionals who understand the sophisticated chemistry associated with these metals as counterparties contract directly with one another to purchase rare earth elements primarily from specific plants and suppliers who have met stringent pre-qualification. Additionally, the market has high regulatory barriers to entry, with most of its trade being conducted primarily via Chinese state owned enterprises that hold a limited number of export quotas to remove rare earths from the country. Sourcing rare earths in China for inventory is very difficult and requires a combination of chemical expertise, relationships, knowledge and experience that Goodwood, Salida and their director nominees clearly lack.

Your board and management team understands the intricacies of this highly specialized international marketplace and has the proven expertise and experience to maximize shareholder value through investment in REE. Very few individuals in the world can do this type of work and that is the competitive advantage of Dacha’s current management team. Goodwood, Salida and their nominees do not have the experience, expertise or relationships to manage or grow the assets that have been diligently built by Dacha’s highly-experienced management team.


Members of the dissident slate have in the past demonstrated self-serving activism, value destruction, and strategic miscues. Unsuccessful investment strategies have left Goodwood and Salida with a limited ability to raise investor funds and with a motivation to instead raid cash rich public companies. We fear that Goodwood, Salida and the other members of the dissident group intend to do the same with Dacha, and seize the value that rightly belongs to our shareholders without paying anything. To advance this goal, Mr. Puccetti, Goodwood’s founder, Chairman and Chief Investment Officer, with the support of Salida, has put forward a slate of connected nominees with no track record in the REE industry, with demonstrated underperformance and who are not necessarily motivated to act in the best interests of the shareholders of Dacha as a whole.


Mr. Tye W. Burt was terminated as Chief Executive Officer of Kinross Gold Corp. after presiding over a reported US$2.49 billion loss related to the acquisition of Red Back Mining, the largest single loss in the company’s history.

Mr. Ian W. Delaney has several connections with Goodwood and is reportedly currently barred from entering the United States because of dealings with a dictatorship.

Mr. Peter H. Puccetti is the founder, Chairman and Chief Investment Officer of Goodwood Inc., a Toronto-based hedge fund whose Goodwood Fund A, B, Capital and 2.0 each have negative returns for the three and five year period, underperforming the S&P/TSX composite TRI, which has yielded positive returns for those periods.

Mr. Timothy E. Thorsteinson presided over 97.2% stock price decline as CEO of Enablence Technologies, a former Goodwood portfolio investment.

We do not believe that the members of the dissidents’ slate possess the expertise to lead Dacha into the future and enhance total shareholder value within the dynamic nature of the REE industry.


Following a good faith settlement with Goodwood and certain dissident nominees over Longford, Forbes & Manhattan Inc. (“Forbes & Manhattan”) was prepared to work constructively with Goodwood for the benefit of all shareholders. Unfortunately, Goodwood put up a false front of cooperation while simultaneously and secretly, along with Salida, acquiring shares of Dacha. Apparently, the dissident group rapidly accumulated a stake of 31.5% without any disclosure of its purchase.


Dacha, a Forbes & Manhattan company, has a history of creating value for shareholders in a volatile market. Dacha has posted a 93% return on sales transactions and a 135% return on investment capital since January 2010, and has done so while aggressively managing SG&A to levels that are comparable with its peers.

Together with Forbes & Manhattan, whose investment model combines industry leading expertise, exceptional capital markets access and the strongest deal flow for resource assets to produce consistently strong returns, Dacha is focused on building on this record to generate incremental value for all shareholders.

Forbes & Manhattan’s active management approach, which mitigates risk through hands-on involvement competitively positions its partner companies through more efficient approaches to general and administrative expenses. Forbes & Manhattan’s strategies significantly decrease costs, such that G&A of those companies are in line with, if not better than, their competitors. The track record shows that by bringing deep, hands-on expertise in geology and mining engineering, capital markets expertise, and by providing portfolio companies with economies of scale, Forbes & Manhattan enables the development of assets that might not have been developed as stand-alone companies with traditional management structures.


Dacha’s highly qualified incumbent director nominees have the necessary skills and knowledge to maximize the rare earth assets that the company currently holds, grow net asset value and drive share price appreciation. In addition, management has nominated for election as a director of Dacha, Mr. Jim Rogers, a commodities investment expert, author and a financial commentator who has been a successful international investor since 1980. Mr. Rogers will be appointed non-executive Chairman following the meeting, replacing Mr. Stan Bharti who will not stand for re-election.

Mr. Rogers has frequently been featured in Time, The Washington Post, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal and The Financial Times among others. He has been a regular columnist at WORTH Magazine since 1995, and a regular commentator on CNBC since 1998. Mr. Rogers has written four books on investment, including ‘Investment Biker: On the Road with Jim Rogers’ (1994), ‘Adventure Capitalist: The Ultimate Road Trip’ (2003), ‘Hot Commodities: How Anyone Can Invest Profitably in the World’s Best Market’ (2005) and ‘A Gift to My Children: A Father’s Lessons for Life and Investing’ (2009). Mr. Rogers holds a B.A. in History from Yale University and a B.A. and M.A. in Politics, Economics and Philosophy from Oxford University.

Dacha also plans to nominate Hon. J. Trevor Eyton, David S. Warner and Ken Taylor. The incumbent management nominees are G. Scott Moore, President and Chief Executive Officer; Alastair Neill P.Eng, MBA, Executive Vice President and Director; and General (Ret) Ron Hite, Director.

Dacha encourages shareholders to carefully review its proxy circular and other materials and vote only their BLUE Proxy by no later than Monday, November 26, 2012 at 10:00 a.m. (Toronto time) in advance of the proxy voting deadline. If you have any questions and/or need assistance in voting your shares, please call Kingsdale Shareholder Services at 1-866-229-8263 toll-free in North America, or 1-416-867-2272 outside of North America (collect calls accepted).

Do not let Goodwood and Salida’s representatives take the value that belongs to you! The highly-qualified and experienced Dacha board of directors is completely dedicated to maximizing shareholder value and strengthening the company. We encourage you to vote for management’s nominees and look forward to your support.

“G. Scott Moore”

G. Scott Moore

President and CEO

Dacha Strategic Metals Inc.

About Dacha

Dacha Strategic Metals Inc. is an investment company focused on the acquisition, storage and trading of strategic metals with a primary focus on Rare Earth Elements. Dacha is in the unique position of holding a commercial stockpile of Physical Rare Earth Elements. Its shares are listed on the TSX Venture Exchange under the symbol “DSM” and on the OTCQX exchange under the symbol “DCHAF”.

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s ability to trade in rare earth elements, the realization value of Dacha’s physical inventory portfolio, proposed investment strategy of the Company, and general investment and market trends. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Dacha to be materially different from those expressed or implied by such forward-looking information. Although management of Dacha has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Dacha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.


Kinross Gold Plunges 19%, Hits 6-Year Low On Mine Woes … And Bad Aurelian Resources Karma

Posted by AGORACOM at 1:14 PM on Tuesday, January 17th, 2012

Despite gold sitting at $1,650 + … our good friends at Kinross Gold are trading down 17% today … make that 19% (can’t keep up with this thing … see updated chart below), sending Kinross to lows not seen since 2006 if you don’t include the entire global free fall of 2009.  In other words, on its own merits, Kinross is down to 2006 levels.

This couldn’t happen to a nicer bunch of people, especially Kinross Chief something Tye Burt.  AGORACOM Members will never forget how Kinross pillaged Aurelian Resources in a “deal” that was preceded by the biggest online shareholder revolt by small-cap investors this century.

For those of you who still bare the battle scars, or for those of you who’s interest is now peaked, have a look at this string of stories marking triumph despite an official defeat.

We won’t forget.


Post sponsored by:

VIDEO: Betrayed – The Story Of Aurelian Resources

Posted by AGORACOM at 4:12 PM on Thursday, April 28th, 2011

With Century Mining Shareholders leading yet another small-cap shareholder revolt against a “friendly” (definition: predatory) takeover, I am reminded of the very first online revolt by shareholders of Aurelian Resources. Despite forcing Kinross to renew its offer 4 times (a record for a “friendly” takeover?), Aurelian was acquired – BUT not before shareholders made headlines, videos and history.

Here are a couple of my favourite videos:

This is the story of Aurelian Resources, and how everything went horribly wrong when the company’s management sold its shareholders down the river.

This is the opening title from The Battle for Aurelian Resources, in which the Rebel shareholders from Agoracom take on the Evil Kinross Empire, which has all the money in the world

This was Hitler’s reaction when he was told of the Kinross Gold offer to buy

*The Most Popular Of All Aurelian Videos With Over 17,000 Views

Kinross Fails To Acquire 90% Of Aurelian – Extends Offer For A 2nd Time. Community Wins 3rd Battle

Posted by AGORACOM at 8:57 AM on Tuesday, September 16th, 2008

Kinross Gold issued a press release today with the following headline:


That may be true – but it is also misleading.  The truth of the matter is, for the purposes of the acquisition, what they state further down in the press release:

“Kinross now beneficially owns ….. 89.7% of the Aurelian shares excluding the 15 million shares acquired by Kinross prior to the offer. “

As a result, Kinross has extended its offer to September 29th.  Now, it appears all but inevitable that Kinross will hit its 90% and force a compulsory acquisition … but they can’t – I won’t allow them – to use semantics to take away yet another important victory from the Aurelian AGORACOM Community, an intelligent and determined group of investors that fought Goliath and won 3 voting battles + the moral vote.

Hats off to the entire Crew.  You are pioneers that have paved the way for future investors that can fight based on your example.  More importantly, large Canadian companies have been served notice that retail investors have not just a voice, not just a vote but a powerful voting voice that demands to be heard.


Kinross Fails To Acquire Aurelian Resources – Extends Tender Period

Posted by AGORACOM at 10:10 AM on Thursday, September 4th, 2008

ARU Revolt - Header


Kinross Gold issued a press release this morning titled Kinross Succeeds in Bid for Aurelian. Unfortunately, their Tender Offer failed to bring them 90% of Aurelian’s issued and outstanding shares:

“A total of 108,524,181 common shares of Aurelian were validly deposited at the expiry time
of the offer. Kinross now owns a total of 123,524,181 common shares of Aurelian. At the time
of the close of the offer, this represented approximately 74.8% of Aurelian’s issued and
outstanding common shares
on a fully-diluted basis.”

Now, when all Aurelian stock options are added in the total comes out to just over 80%.

Unfortunately, In order to de-list Aurelian shares and takeover the company, Kinross needs to hit 90%, so Kinross has now extended its offer to September 15th:

“Kinross has also extended its offer to enable those shareholders who have not yet tendered
their Aurelian shares to the offer, to deposit their Aurelian shares to the offer. The offer,
as extended, will now expire at 6 p.m. (Toronto time), on September 15, 2008.

A notice of  extension will be mailed to Aurelian shareholders in the coming days. If Kinross is
successful in acquiring 90% of the shares of Aurelian under the offer (excluding those
shares acquired in the private placement), it intends to acquire all of the remaining
shares by compulsory acquisition.”


To hit their 90% figure, Kinross needs to acquire 10 of the remaining 20% that did not tender their shares.  Said another way, Kinross needs to convert 50% of shareholders that did not tender their shares.  The only way I can see this happening is if a single major shareholder (i.e. Keith Barron) has not yet tendered his shares but, with one fell swoop, could hand over most if not all of the 10% Kinross needs.

Otherwise, if the non-tendered 20% group of shareholders is made up of the fragmented but united Aurelian AGORACOM Community, Kinross will need to go back to the drawing board because 50% of this group is not about to change their mind anytime soon.  This is especially true when you consider the fact that the Community has put up close to 2 million shares for sale at $20 or higher.


As of this moment, Kinross has achieved nothing more than becoming a majority shareholder of Aurelian Resources.  Aurelian continues to trade on the TSX and will continue to do so if Kinross fails to acquire 90% of the Company.

As such, the next battle line is September 15th, the deadline of the new extended offer.  Kinross will be doing its best to make this look like a fait accompli … but it will take more than that to get convert non-tendered Aurelian shareholders into Kinross shareholders.

In the meantime, Kinross can not be happy about failing to hit the 90% mark. If Kinross fails, which is a very strong possibility, it will be left with 2 public companies and all the effort required to run them.  No matter what Tye Burt (Kinross President and CEO) says in his press releases, he can not be happy with the possibility of this outcome.


If Kinross fails to acquire 90% of Aurelian shares, then Aurelian shareholders that did not give in to the tender will get what they always wanted – an opportunity for Aurelian to realize its full potential value over the next 2-3 years and the chance to sell their shares at $20.00 or higher.

Congratulations to the entire Aurelian AGORACOM Crew for its unbelievable efforts to date.  As I said in our press release yesterday, This is by far the most successful Canadian online shareholder activism campaign I have ever seen.

Keep up the good fight and set your sails on September 15th.


Aurelian Shareholder Revolt HUB Hits 816,000 Page Views (Past 30 Days)

Posted by AGORACOM at 10:32 PM on Tuesday, August 26th, 2008


The Web 2.0 Aurelian Resources shareholder revolt against a “friendly” takeover bid by Kinross Gold has generated more than 816,000 page views over the past 30 days on the company’s HUB on AGORACOM. The graph above comes from our internal Google Analytics, so you can rely on them as accurate.

What is truly astonishing about this figure is the fact that it was registered dead smack in the middle of summer holiday season. If management and the board had been courageous enough to insist on a “go shop” clause and extended the offer to October 3rd from it’s current September 3rd inquiry, this figure would be anywhere from 50% to 100% higher.

Shareholders, led by these 6 HUB Leaders, have used the HUB to amalgamate, discuss and execute a strategy to vote down the bid, including submitting thousands of e-mail messages, telephone calls and letters to management, directors, media, analysts, bloggers, securities regulators and even other potential suitors.

The campaign has been a massive success and perhaps the best example of Web 2.0 Canadian shareholder activism with coverage from the likes of The Financial Post, Calgary Herald and Montreal Gazette.

Is management of Aurelian Resources listening? Though we would bet on it, we can’t be sure. On the other hand, there is strong evidence to suggest that Kinross Gold is watching quite closely, including Google searches for “Agoracom Aurelian”.

For our complete coverage of this amazing story, please read the following headlines.


Guest Blog: Aurelian Shareholder Speaks Out Against Kinross Bid

Posted by AGORACOM at 7:26 AM on Monday, August 25th, 2008

I am pleased to announce our first ever guest blogger to the AGORACOM blog – and we couldn’t have found a better guest and situation to do it.

Our guest is safeharbour, an AGORACOM member that embraced our “Investor Controlled HUBS” from the outset and joined us on October 11, 2007. His contributions are so well respected by fellow members and investors on the Aurelian Resources HUB that he is now a HUB Leader with over 18,000 points and a member rating of 3.8 thanks to 114 votes from fellow members.

Shareholders, led by “safe” and these 6 HUB Leaders, have used the HUB to amalgamate, discuss and execute a strategy to vote down the bid, including submitting thousands of e-mail messages, telephone calls and letters to management, directors, media, analysts, bloggers, securities regulators and even other potential suitors.

The campaign has been a massive success and perhaps the best example of Web 2.0 Canadian shareholder activism with coverage from the likes of The Financial Post, Calgary Herald and Montreal Gazette.

Finally, I can tell you from personal private messages that “safe” is a conscientious investor that has the best interests of his HUB at heart.

As such, me and the entire AGORACOM team are thrilled to have safeharbour as our first guest blogger. To this end, please find enclosed his post below about this very important matter (bold emphasis is mine to provide readers with a road map):


As they say, a braided rope is much stronger than a single strand, and that is how the retail shareholders on the Agoracom ARU board feel. This board has provided us with a venue where we can share information and opinions, much more than we could using other methods.

On another board prior to Agoracom, there was so much bashing that it took up much of our energy, and wasn’t worth sifting through the garbage to get to the real information. At times, each of us would be feeling pretty much ‘in the dark’. But with this board, we support, inform, and discuss Aurelian constantly. It’s just part of our day. As much as picking up a newspaper was 20 years ago, and I believe that if you want the latest on Aurelian or Ecuadorian politics, you needn’t look any further.

As far as our battle now, The Kinross deal, in my opinion, presents us with a lowball starting bid, one that is totally inadequate. The argument that it can’t go much higher because we started so low is bogus. If my neighbour went into a car lot and offered $1,000 for a $30,000 car, could I then go in the next day and say I’ll give you $1500 because he has set the value?

We have not been given all the data available by Aurelian management. They reluctantly released the last 80+ holes that were drilled but downplayed any positive effect they would have. We are not privy to results of aerotem testing that occurred prior to April 18th. While we hear that the new mining law is totally mining friendly and open to international investment, the timing of it’s release raises eyebrows.

The Aurelian website was stripped of most of it’s data, maps, and gold and copper targets. Why? Wouldn’t we want to show off all the dozens of gold and copper targets?

We ask that Micon release an updated ounce count which include all the holes to date. Instead of 13.7 million ounces, we believe that should be closer to 20 million ounces including Bonza. Our management tells us it should cost $170 an ounce to get this gold out of the ground. What are the average costs of the major producers these days?

I suggest that the updated Micon report they are sitting on could upgrade our 13.7 m oz resource to a higher grade. Most gold juniors try to maximize shareholder value, (i.e. give the best spin on the number of ounces in the ground). Instead we downplay them. Why?

You don’t have to look far to see that other juniors have sold at values in excess of $300 per ounce insitu. Yet the Kinross deal reeks at $63 an ounce, and the deal is touted at a value of $8.20 (based on 20 day averages on both stocks). Just have a look at both graphs for the 20 days prior to the deal and tell me there wasn’t manipulation going on.

“The best find in perhaps 20 years” as Mr. Anderson once said. Yet this deal is acceptable to management? This is one of the best if not the best junior gold available. Majors are looking at juniors with 1-3 mm ozs now. The large finds are just too few and far between. If you can pick up an ARU with 20 mm oz as opposed to 10 mines of 2 mm oz, you’ve just saved yourself building 9 mines and smelters….maybe 5-10 billion in savings on infrastructure. That’s a lot of money to add to the war chest to buy ARU. Then add the potential of other finds close by.

John Kaiser mentioned in his letter recently, that the general market was expecting $20 – $30. I agree. Look at the ounces we have, the going rate for insitu values, and a mining law that will reflect Ecuador as an ‘open for business-mining friendly country’. (Mining will assist the country in improving the overall standard of living) .

If this Kinross deal were to go through, it would be interesting to hear the majors explain at their next Annual General Meetings the values they are paying for much smaller juniors, and why they sat on their hands when Aurelian was up for grabs.

Gold prices have gone up from $500 to $900 and is any of that now reflected in the offer?

Recently we went out to get our side of the story heard, to the media, to the analysts, videos on you tube. This is just the start. Progress is being made but to date we aren’t very impressed. The ‘real’ story has not yet come out. Polite sound bites from the president of Aurelian do not cut it. That’s like interviewing the CEO of Phillip Morris asking if smoking is bad for your health. Soon we will get a reporter with enough ‘energy’ to actually ask the tough questions and report on the same. The OSC is involved in an investigation but frankly, given their history, we feel their report will be toothless, at least compared to the actions of the SEC.

It was a different scenario, back in April, after the Ecuadorian government put a halt to mining while they wrote the new mining laws. Mr. Anderson asked for the assistance of the Agoracom crew, in emailing the PM Steven Harper, Minister David Emerson, and the Canadian Embassy in Quito. We did, in great numbers, and in his own words, we made a difference. But that was then, and now we are on our own to defend our investments….and without a doubt, when we go to battle…we will make a difference.
All indications lead one to think another bid will surface soon. I believe it will be despite management, not because of them.

It’s tough enough picking a junior gold explorer that’s going to find you a huge motherlode, and then find one in a country that comes out with a mining friendly law….but no one expected to be sold down the river by one’s own management. That was a bit of a shocker.

We know some majors are prepared to do almost anything to get what they want. They’ll tell you how scary the politics in Ecuador are, how they wouldn’t touch ARU with a 20 foot pole, then once they buy it, they’ll tell the public what a steal ARU was, how they drooled over it, and how it’s worth many times what they paid…wait and see…all of a sudden those 13.7 million ounces become 20+ and the Micon upgrade is published.

Things aren’t always what they seem. You always have to look after your own interests, and do your own due diligence because no one else will. After three years of DD on Aurelian, we don’t give up when we are 100 feet from the finish line.

For the Agoracom crew- this is just the next battle.


AGORACOM Story Takes Top Spot On Yahoo Buzz On First Day!

Posted by AGORACOM at 7:05 PM on Tuesday, August 19th, 2008

AGORACOM is very proud to announce that our story covering the Aurelian Resources Online Shareholder Revolt has taken the top spot on Yahoo buzz today.

As of 7:40 PM EST the story is ranking as follows:

#1 in Business Category with 118 votes (#2 = 60 votes)

#9 in All Category with 118 votes (Only 164 needed to get to pass Obama/McCain story in spot #6)

This is an incredible achievement and full credit goes to the entire Aurelian Resources self named “Crew” on AGORACOM. After posting the story this morning at 6:50 AM, the Crew mobilized, spread the word and began to the story.

This also serves as another example of the power of community. Specifically, a properly fun financial community in which investors are given the opportunity to amalgamate and communicate the pro’s and con’s of a company within a moderated environment free of spam, profanity, bashing and hyping.

Finally, this achievement is truly special because it took place on the very first day that Yahoo buzz was opened to all publishers. We’re going to relish this one!


p.s. For those of you wishing to vote on the story and buzz it up on Yahoo, please find enclosed the following instructions that we posted to the Aurelian HUB:


Good evening to you all. Yahoo Buzz! is a brand new feature released by Yahoo (just last night) in which users are able to submit stories.

The power behind the system is that the most popular stories are promoted to the FRONT PAGE of Yahoo, bringing millions of eyeballs to the story. If everyone votes up the story, it could provide greater attention than anything we’ve done to date.

I submitted the Aurelian story this morning and it is now the #1 “Business” story on Yahoo Buzz with more than 120 votes. It has graduated to the actual “Top Buzz” page as editors at Yahoo authenticated the story.

As such, I ask that each and every one of you (that have not yet already done so) to vote for the story. If you already have a Yahoo ID, it is as simple as the green thumb votes here on AGORACOM. If you don’t have a Yahoo ID, please take 2-3 minutes to create one and vote on the story.

Look for this button when viewing the Aurelian story and click on it to register your vote.

Spread the word!


Aurelian Shareholder Revolt Hits 580,000 Page Views, Expands To YouTube

Posted by AGORACOM at 8:01 AM on Tuesday, August 12th, 2008

The Web 2.0 Aurelian Resources shareholder revolt against a “friendly” takeover bid by Kinross Gold has generated more than 580,000 page views over the past 30 days on the company’s HUB on AGORACOM.

Shareholders, led by these 6 HUB Leaders, have used the HUB to amalgamate, discuss and execute a strategy to vote down the bid, including submitting thousands of e-mail messages, telephone calls and letters to management, directors, media, analysts, bloggers, securities regulators and even other potential suitors.

The campaign has been a massive success and perhaps the best example of Web 2.0 Canadian shareholder activism with coverage from the likes of The Financial Post, Calgary Herald and Montreal Gazette.

Now, in response to this piece of advice from yours truly, Aurelian shareholders have taken their message to YouTube. A shareholder by the name of Bob and better known as HUB Leader Heloboy2005, posted what I can only describe as a fantastic 9-minute video statement on behalf of the activist group.

As further evidence this revolt is far beyond a mere fringe group of investors, the video has been viewed 728 times in less than 2 days. Add that to the 580,000 + page views on the Aurelian HUB over the past 30 days and you have a serious group of motivated investors.

The video first outlines all shareholder concerns relating to the deal, including a strong argument for its weak valuation. More importantly, however, it calls out management and the board for what appears to be major potential improprieties, including the granting of more than 2.4 million options to board members only 5 days before JV discussions with Kinross began.

Bob ends the video by challenging President and CEO, Patrick Anderson, to visit the Aurelian HUB on AGORACOM and answer a list of more than 22 questions compiled and posted by the entire group of shareholders.

Will he take up the challenge? There is no doubt in my mind that he now needs to. He doesn’t have to do it on AGORACOM but he definitely needs to address these concerns via a statement of some kind.

In the meantime Mr. Anderson, if you haven’t seen the video, enjoy the following:


Aurelian Shareholder Revolt On AGORACOM Makes Calgary Herald

Posted by AGORACOM at 7:23 AM on Friday, August 8th, 2008

The shareholder revolt at Aurelian Resources continues to gain momentum, with the Calgary Herald picking up the story today.

Hats off to Aurelian shareholders for showing the world how a stock discussion community can be used in a powerful and constructive manner.