Originally posted by Sneakyazn88
an important aspect of investing is to identify the transparency of management. Is management candid with their shareholders? in the case of this company; no. and for this reason I have long ago sold my holdings.
having a good resource is one thing, having good management is another.
Whilst the management may not suit your investment style Sneaky, there are others that believe they have what it takes. Snippet below from The Prospector report mid last year for those that haven't read previously.
VEC management experienced in dealing with issues African experience – Simon Youds (CEO) has operating & development experience in Africa and has developed expertise in engaging with local miners and chiefs. Andrew Steers has (CFO) previous experience in Africa, which includes the Kibali Gold Mine in the DRC, and has expertise in government relations. Peter Stockman (Chief Geo) has extensive experience all over Africa in exploration and operations. Chris O’Brien was Newmont’s Global Projects Manager for over five years. Dealing with artisans – VEC management appear to have a pragmatic approach to dealing with the artisanal miners and understand that the miners need a livelihood, and that trying to get them removed from their workings is going to lead to more problems. SOKIMO JV – while all companies need to have a relationship with one of the government mining companies, VEC appears to have started to build a working relationship with SOKIMO through the exploration JV, which we view as a positive.
