The way I see it really is quite simple. They have wonderful assets in their gold, a deal with barrick, a high gold price, continued drilling, mining to get underway, key appointments (a managing director with extensive experience in MINING and FINANCE). However, it is not all roses as they do need funding to ensure mining can get underway. Mark Tory's appointment is now official and not an interim role but it this new appointment of Mark Hine I find interesting:
Secondly, the management team is also bolstered by the appointment of Mr Mark Hine to the role of Chief Operating Officer, effective 9 May 2011. Mark is a mining engineer who has more than 30 years operating experience. Most recently, he held positions of CEO Golden West Resources Ltd, Executive General Manager Mining at Macmahon Contractors Pty Ltd and General Manager for Pasminco Ltd at the Broken Hill / Elura Mines.
Here we have a mining engineer with an extensive network of contacts with contractors for drilling and mining. For mine that speaks volumes and if the company were to wind up why appoint someone whose job will be quite plainly to oversee mining ops. At least that is how I see it and I hope it helps :)
PG
CRE Price at posting:
5.1¢ Sentiment: LT Buy Disclosure: Held
