Disappointing that Rob Ryan is leaving but let’s not throw the baby out with the bathwater.
As investors, the question to ask is whether or not he is leaving because the project is a stranded asset that cannot go forward?
Look at the calibre of the new MD Phillip Wilding and Nathan Stoitis and ask whether these highflyers would accept leadership positions with a dead project.
Phill has recent operational and mine development experience for Westgold, which is exactly what Rox needs as they work through the DFS and then move to construction.
He eclipses Rob Ryan’s expertise in the upcoming stages of development. One of the reasons Bardoc cited for selling out while Rob was CEO was that they lacked the expertise to build a mine. Phil has that expertise.
Nathan Stoitis, AKA Mr Metallurgy, is a renowned expert on the factors that make or break a gold project. He is a perfect fit for Rox and they would be delighted to have him on board.
Check out the Money of Mine video featuring him.
https://www.youtube.com/watch?v=5P6rC3WtNDA
I am surprised and pleased that Rox was able to recruit Nathan because he is in very high demand.
The other consideration is that the drilling campaign underway has significant and perhaps company-making potential and the results are not yet known.
Whatever the reasons for it (and we will never know) Rob Ryan did not quit the Board immediately and resign as MD because he had given up on the Youanmi Gold Project.
Putting personal nostalgia aside, as we must, the project is on the way to a DFS and large gains for patient investors.
(20min delay)