Tuesday, June 9, 2009

My recent trip to the IAMGOLD AGM in Toronto

I guess I was scared and empowered somewhat. The IAMGOLD AGM seemed to be an enthusiastically attended event. It was held at the St.Andrew's club downtown Toronto (King Street). I walked 4 miles to the meeting to burn off nervous energy and to think. I had called the company beforehand and asked if I could attend as a guest. I said I was a "business" (health care business) student from Athabasca University and that my name was James. No last name. One of the investor relations ladies said it was OK for me to attend. When I got to the 27th floor at the St. Andrew's club there were people taking registrations with laptops. I was VERY nervous that I would need to give them my last name as Peter Koven from the Financial Post had given a director of the company my website address some days before. So I went down to the lobby to think a bit more. While I was there, two lovely ladies burdened with paperwork and boxes came in off the street. Naturally, I offered to aid them not knowing who they were. When I got closer, their IAMGOLD name tags stood out. I switched into my yet to be discovered espionage mode and decided to become their best friend. They were headed upstairs to the AGM. I carried a bunch of their stuff and got them laughing. I walked right past the check-in desk. I was the first person in the room...except for the CEO (Joe) and Chairman (William), the man who started the company with Mark Nathanson. I was right in front of him eating a fruit bar. He had no clue who I was or what was about to happen to him. Around 150 people?, a packed house, filed in. The presentation from the Chairman and CEO were substandard and boring. It was amazing to see the wealth of the company. A reaction of money harvesting from the Africans that my father had catalyzed with his hard work, skill and honesty. Peter Koven from the Financial Post and a reporter from Reuters were there. Although Peter had turned me onto the meeting and suggested I attend, he was unenthusiastic and asked me to not mention his name. This was very discouraging. I was the second person to stand up and "ask a question". Over the period of 20 minutes I respectfully told the sad story. I was nervous and emotional at times. The CEO (Joe) tried to shut me down twice but I managed maintain what was left of my composure and continue. Shocking. I told him he had been warned that I would tell the story. And I did warn him in the Fall of 2008. I just did not tell him that I would drop the bomb in front of investors and media. Mission accomplished for my Dad. I have no idea what was said afterwards as I left immediately after handing out some website cards.

James

Motto for the IAMGOLD AGM
"SPEAK THE TRUTH...BUT LEAVE IMMEDIATELY AFTER"