From_Sudbury...What has this management done for this company? Here is a quick resume:
Our Co-Ceo kept us afloat in the worse financial crisis ever since the great depression. They reduced our cash burn which was way too high. They got paid more than I like for doing this and I am not happy about that but since I cannot change it, I choose to move on.
They hired Wes Hanson who since then has hired:
Jereymy Niemi:
Mr. Niemi is a geologist with more than 13 years experience in the mining/resource industry, both at Corporate and Operational level. His work spans the gold and base metal industries throughout the Americas. He started his career with Inco Technical Services Limited in 1996 working on the Victor Deep project in the Sudbury basin. Following this he worked on mining and exploration projects throughout the world as a consultant with Datamine Canada and subsequently as an independent consultant.
Mr. Niemi was most recently, Manager, Technical Services, for Kinross Gold Corporation, in the Toronto Corporate Office. He is a member of the Association of Professional Geoscientists of Ontario, and holds a B.Sc. Honours degree in Earth Sciences from Laurentian University.
Now this guy works for us...little old Noront, very happy to have him aboard!
Paul Semple:
Mr. Semple's 26 year career in the mining industry has focused on feasibility studies, project development and operations of precious and base metals deposits. Much of his time was spent with Kilborn (later SNC-Lavalin) where he was involved in all aspects of global project development from initial studies through to construction and operations. During this time, Mr. Semple held various positions including Vice President and General Manager, SNC Lavalin Engineers and Constructors. Recently, Mr. Semple was Vice President of Projects for Western Goldfields Inc, and was responsible for the feasibility study and engineering/construction required to restart the Mesquite Mine. Mr. Semple holds a Bachelor of Applied Science from Queen's University and is a professional engineer.
Now, do you think this guy did not have other opportunities? Why did he choose Noront?
Alex Davidson:
Mr. Davidson was formerly Executive Vice President, Exploration and Corporate Development with responsibility for Barrick Gold's international exploration programs and corporate development activities. Mr. Davidson joined Barrick in October 1993 as Vice President, Exploration with responsibility for the Company's expanding exploration program. He initiated Barrick's expansion out of North America and into Latin America and beyond. Prior to joining Barrick, Mr. Davidson was Vice President, Exploration for Metall Mining Corporation. Mr. Davidson has over 25 years' experience in designing, implementing and managing gold and base metal exploration and acquisition programs throughout the world. In April 2005, Mr. Davidson was presented the 2005 A.O. Dufresne Award by the Canadian Institute of Mining, Metallurgy and Petroleum to recognize exceptional achievement and distinguished contributions to mining exploration in Canada. In 2003, Mr. Davidson was named the Prospector of the Year by the Prospectors and Developers Association of Canada in recognition for his team's discovery of the Lagunas Norte Project in the Alto Chicama District, Peru. He received his B.Sc. and his M.Sc. in Economic Geology from McGill University
Someone with good knowledge inside Barrick told me that they did not spend a dime on exploration or M&A in the last 17 years or so without his OK. Sounds like someone I want on my team as well.
It seems we have been building a great team in the last 9 months or so and that comes from the leadership of Wes Hanson. Yes, I think he is doing a great job and if he was worried about our share price on a daily basis like some on here, he would be the wrong guy for the job!
We have a report from SNC Lavalin coming out in the next month another important step in our company.
Now, add to that the money they raised at $2.75, diluting us to a minimum and this is another sign of great management.
The FWR issue...well, I choose to believe that they knew Cliff's was stealing FWR cheaply and they put a big old spotlight on them and forced to cough up some big bucks and legitimize the RoF area and split the infrastructure costs.
They say they plan to start mining in 2015. Those of us who are trully long know the value is there and that is why we can stay focused and not lose our minds when our share price dribbles down a quarter or 2! It gives us a chance to buy more of this great company at really good prices.
Glorieux
