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Note: all the msgs posted below were posted on the Yahoo
message board for Goldfield
Corp unless otherwise described.
Msg 3752 on 5/17
Re: Lurker needs information
by: dpastor_2000
05/17/01 10:49 am
EDT
Msg: 3752 of 3810
Zeomanus,
I am the portfolio manager and investor in a private fund that owns GV.
Through eRaider.com, I am running for GV's board of directors. Most
of my postings, and Aaron Brown's, are on the eRaider.com website.
Our proxy is there as well. In it, we discuss the need for the company to
1)focus and develop the two core businesses; 2) reach out to
institutional investors; and 3)maximize shareholder value. We think that
great shareholder input will help management focus on these goals.
Therefore, I invite you to visit our site and participate in our
discussions.
eRaider is soliciting proxies for Goldfield's annual meeting. Click on
the link
(http://www.eraider.com/article.cfm?topicID=50&catID=158&articleID
=647)to get summarized information on the participants to the proxy
solicitation. Also, eRaider strongly advises all shareholders to read the
proxy statement when it is available on the eRaider.com website. If you
want a free copy of the proxy statement and/or the information on the
participants, please email Aaron Brown or write us at:
Privateer Asset Management
POB 20170
Park West Station
NY, NY 10025
Only the poster is responsible for the content of this message, this
legend does not imply eRaider's agreement or disagreement. Please read
our legal disclaimer for more information
Msg 3758 on 5/17
Re: Lurker needs information
by: dpastor_2000
05/17/01 08:08
pm EDT
Msg: 3758 of
3810
NO, we are not advocating selling the mining. I believe the zeolites are
under-valued.
Msg on 5/18 #3774. NOTE that while the name says Dpastor ; in fact the
Writer is Aaron Brown ;he identifies himself in the next post. There was
a mistake in the select identity.
Re: I think positions should be stated
by: dpastor_2000
05/18/01 03:25
pm EDT
Msg: 3774 of
3810
It's true I don't come to this board often, I spend most of my time at the
eRaider board. But I'm always happy to answer questions.
First, I have to distinguish between my personal opinions about Goldfield
and the official position of the Shareholder Value Slate. I personally believe
there is significant value, beyond share price, in both zeolite mining and
electrical construction; but that both of these businesses need capital
investment and growth. Capital will come at a reasonable price, again in my
personal opinion, only if the Company's governance and capital structure
are improved; and a clear strategic focus is communicated. Finally, I
personally think we should recruit some board members with experience
and respect in the two industries, people to serve as ambassadors for the
Company.
The Shareholder Value Slate stands for shareholders on the board to
improve value. As a director candidate, I am pledged to represent all
shareholders if elected, and to keep an open mind on all issues. If I am
elected, I may decide to modify my views on the basis of additional
information available to a board member. Also, I would respect any
shareholder's views. I'm not running as an ideologue with fixed ideas about
improving value, I just think we need some people on the board who
believe in the stock enough to buy it with their own money, who have the
independence and expertise to stand up to management when necessary.
I know most dissident directors run on specific platforms: fire management,
sell the Company or whatever. That's not what eRaider is about. Our goal is
to make the Company a democracy, in the belief that everyone works better
when the owners are watching. I don't try to get on boards, in fact I have
always refused the opportunity to serve. But in Goldfield's case, I think I
had no choice but to run if there is to be any positive change.
I don't know why you think
http://www.eraider.com/message.cfm?topicID=50&catID=160&messagenu
mber=393 was self-serving. I was asked a fair question, if I think Goldfield
is so valuable, why don't I try to buy the whole thing? I answered fairly (in
my opinion anyway) that I am in a different business. I have participated in
LBO's in the past, they are a lot of work and I did not enjoy them. I think I
can get a better risk-adjusted return with less work by restricting myself to
a 5 percent stake. That way the benefits are shared by all stockholders, so
there are a lot of people to help with the work of oversight. From my point
of view, I can put my money in 20 or 40 companies instead of 1 or 2. That
diversification is important too. However, if I lose at Goldfield, I may have
to rethink that strategy (not with Goldfield, but with future targets). Maybe
5 percent is not enough to force change, even with an Internet site to
organize other shareholders.
I apologize for the following disclaimer. I have been posting on message
boards for many years and consider this sort of thing to be inappropriate,
too much like a solicitation. But SEC regulations require a label and pointer
to my proxy filing, and for me to file this message (and all
communications).
eRaider is soliciting proxies for Goldfield's annual meeting. Click on the
link to get summarized information on the participants to the
http://www.eraider.com/article.cfm?topicID=50&catID=158&articleID=64
7 proxy solicitation. Also, eRaider strongly advises all shareholders to read
the proxy statement when it is available on the eRaider.com website. If you
want a free copy of the proxy statement and/or the information on the
participants, please email aaron.brown@privateeram.com Aaron Brown or
write us at:
Privateer Asset Management
POB 20170
Park West Station
NY, NY 10025
Only the poster is responsible for the cont
Msg 3791 on 5/19
Re: My Two Bits
by: AaCBrown (44/M/New York City, New York)
05/19/01 11:06
am EDT
Msg: 3791 of
3810
I looked at C2C not as an investment, but as a company trying hard to find
markets for natural zeolites. Unfortunately, it seemed to me that their efforts
never went beyond optimistic press releases. It's this sort of hype that make
people think natural zeolites are an investment scam.
My current sense is that a significant expansion of the current market for
natural zeolites (which Goldfield dominates) requires joint ventures. I don't
think it's practical to sell existing companies on switching to natural
zeolites; and I don't like the idea of starting a new business Goldfield has no
experience in.
But a joint venture could be a perfect compromise. Whether the chosen
application is animal feed additive, water filtration, fertilizer additives
, kitty
litter, toxic site clean up or something else; a dedicated company will do a
better job. Potential partners will be much more interested in Goldfield
offers to provide half the capital and assume half the risk. The upside is
much greater as well. A joint venture can be located and designed to
maximize value for Goldfield. While you have to choose partners carefully,
there are a lot of smart, aggressive companies out there whose assets and
talents are a good fit with Goldfield's.
Right now, Goldfield has no debt and a very low stock price. If the stock
price can be increased, the Company could issue stock and borrow money
for a low cost of capital. A carefully chosen joint venture, maximizing
Goldfield's expertise and assets, could be a major winner. Plus, this is the
sort of business plan that institutions and analysts can get excited about.
Yes, it's risky. The joint venture could fail. But if you don't want risk, you
shouldn't be in business in the first place. Avoiding all risk guarantees that
shareholders get nothing.
I don't think that Goldfield can ever make much money from zeolites
without a significant commitment of resources. I think we own the mining
properties and have the people to be successful. But they need money and a
board that insists on bold new ideas (and will support those ideas).
Joint ventures, institutional investment, analyst coverage, open boards; these
are the things that pry a company open so it can be successful. No one ever
got rich living inside a fortress, shutting out the world. Opening up means
risk, but it also creates the possibility of reward.
Once again, I apologize for the disclaimer.
eRaider is soliciting proxies for Goldfield's annual meeting. Click on the
link to get summarized information on the participants to the
http://www.eraider.com/article.cfm?topicID=50&catID=158&articleID=647
proxy solicitation. Also, eRaider strongly advises all shareholders to read
the proxy statement when it is available on the eRaider.com website. If you
want a free copy of the proxy statement and/or the information on the
participants, please email aaron.brown@privateeram.com Aaron Brown or
write us at:
Privateer Asset Management
POB 20170
Park West Station
NY, NY 10025