managing director resignation

This is bad news for Voyager and it's shareholders, because Nielsen effectively "was" the company.

He found the projects, he developed them to this stage, and he has all the knowledge of them, something that can not easily be replaced, especially when the projects are in such distant and harsh landscapes.

Also, there has been no transition planning here, and nothing was said about finding a new Managing Director, which says to me they "may be" somewhat disappointed in the project, and may be thinking of letting the company's activities scale down now.

Shareholders should probably try to ascertain if the camps and rigs are packing up in Mongolia, and if contracts with private mining services companies are not being renewed.

CSA consulting in Perth should be contacted to see if the contract to create a JORC resource by mid-2012 is still going ahead, or if there is some kind of "out" clause, which might be dependent on certain events, like the resignation of the managing director, or the poor quality of assays.

The way to have kept investor confidence, would have been to firstly recruit a new Executive Director of Geology, with a view to this person taking over from Nielsen, then announce Nielsen's resignation and his appointment as Chairman of the board. Then confirm to shareholders that the projects are in good standing, that the exploration goes on, and the company is ever onward and upward and remains very committed and optimistic.

None of this has been communicated to shareholders.

Tarsha, I think you are also correct, when you mention there may be personal issues involved with Nielsen's resignation.

Nielsen was very dedicated to Voyager, perhaps too much so for his family.

Having communicated with Nielsen over the years, I know that his young family put their foot down at the end of 2011 and told him he must be at home more often, and especially over Christmas and New Year. He was practically living in Mongolia. I think some family issues have come to a head, and that they have been brewing for a while, which has more-than-likely prompted this sudden resignation. He may have had to do this to save some personal relationships, though I am only really guessing here.

Either way, I am not sure how Voyager can effectively go on without him, since he is "the" Geologist, and as far as I know, they do not have other geologists on staff to support him.

The Cash flow last quarter showed they spent nearly $3 million, and they have $2.7 million remaining, which will not take them through this quarter.

The last activity report showed some disappointing results for the Deeps exploration and drilling.

I expect there should be a number of clarifying statements from the company in the coming days, letting shareholders know what the path forward is going to be.

Those naive people who say this resignation is not so bad, should perhaps realise that Voyager is a mining exploration company, and it now has no geologist, and to my knowledge, not even a consulting one. All competent person statements in the past, have only ever been accredited to Nielsen.

Which begs the question, how effective can a mining exploration company be without a geologist?

Shareholders should be calling Voyager, and asking who is now the company geologist. Does the company have a senior geologist? Does the company now employ "any" geologists? Does the company have a contract with any consulting geologist? If so, what are their names.

The future of Voyager Resources is now unpredictable IMHO, while we await a proper and comprehensive company response.

Gw

Houston, we have a problem.
(Tom Hanks - Apollo 13)