yangzhh's Profile
yangzhh's Posts
SP has woken up. The worst has passed. I bought in too.
Calico to complete Grassy Mtn PEA, grants options
2014-08-25 09:27 ET - News Release
Mr. Rudi Fronk reports CALICO RESOURCES SETS CORPORATE OBJECTIVES AND REVISES COMPENSATION POLICIES Following a restructuring of the board of directors and senior management, Calico Resources Corp.'s board has established a clear set of corporate objectives and has tied compensation to meeting these objectives. Speaking on behalf of the board, non-executive chairman, Rudi Fronk, stated: "We expect to accomplish three important goals. First, in the near term, we are moving ahead with a preliminary economic assessment (PEA) for our Grassy Mountain project. We are very confident that the high-grade underground scenario we envision can be quantified and shown to be an attractive economic opportunity. "Second, we continue to advance the Grassy Mountain permitting process. We have every reason to believe that an approved plan of operation can be obtained from the State of Oregon in the next 18 to 24 months. "Third, we intend to conclude a transaction which unlocks the value of Grassy Mountain for our shareholders. Calico is not a mining company but our technical team is fully capable of moving this project to a point where its value can be optimized, either through a sale or joint venture. There is no doubt in our mind that by derisking the project, we can generate a positive outcome for our shareholders even at current gold prices." New president and chief executive officer, Paul Parisotto, confirmed that the company is now in the process of selecting an engineering firm to undertake the process of completing a PEA. "Our database is in good shape and we are ready to proceed. We see a PEA being completed before the end of this year." The company also announced the grant of 725,000 incentive stock options to directors and consultants of the company pursuant to its incentive stock option plan. These options are exercisable for a period of five years from the date of grant at a price of 17 cents per share. Of these options, 362,500 vest immediately while the remaining 362,500 will vest upon the earlier of: (1) the sale of the company; (2) the sale of the Grassy Mountain asset; (3) completion of a joint venture agreement on Grassy Mountain; or (4) approval of a plan of operation by the State of Oregon. Directors had not received option grants since December, 2011. Cash payments to directors have been terminated. "Our aim is to better align compensation with the interests of shareholders," Mr. Fronk said, noting that as the CEO of Calico's largest shareholder, Seabridge Gold, he would not be receiving any compensation from the company. "I am here to make this work for shareholders," he said.
Feel free to connect the dots... CKB jumped 9.4% today
Calico Resources appoints Parisotto as president, CEO
2014-08-18 17:01 ET - News Release
Mr. Rudi Fronk reports CALICO RESOURCES APPOINTS NEW CEO AND PRESIDENT Calico Resources Corp. has made a change in the senior leadership of the company to reflect the next step in Calico's value creation process. Paul A. Parisotto has been appointed president and chief executive officer of Calico. Mr. Parisotto is an experienced resource company executive and former investment banker who has successfully managed the development and sale of major mining assets. Buck Morrow, who has acted as president and chief executive officer since 2012, will remain as a director. Speaking on behalf of the board, Rudi Fronk noted: "Buck has been instrumental in the early stages of Calico, acquiring the Grassy Mountain project and moving it forward through exploration, economic evaluation and permitting. We wish to thank Buck for his valuable contributions to Calico. Paul has an unusually wide range of experience, which we believe will be critical for Calico in the next phase of its evolution." As chairman and director of Noront Resources Ltd. since 2008, Mr. Parisotto has been responsible for all facets of the administration of this public nickel-copper-platinum-palladium company. As president, chief executive officer and director of Arizona Star Resource Corp., listed on the TSX Venture Exchange and the American Stock Exchange, he led the sale of the company to Barrick Gold Corp. in December, 2007, for $773-million in an all cash takeover bid. Arizona Star owned a 51-per-cent interest in one of the world's largest undeveloped gold/copper deposits. Earlier in his career, Mr. Parisotto built and headed up the mining corporate finance business for a Canadian investment dealer after serving as the manager, original listings for the Toronto Stock Exchange. Mr. Fronk has assumed the new role of non-executive chairman of the board of Calico. Mr. Fronk is chairman and chief executive officer of Seabridge Gold Inc., listed on the New York Exchange and the TSX. Other key Calico personnel responsible for technical and permitting work will remain in their current positions. "Our mandate on behalf of our shareholders is to derive value from our 100-per-cent-owned Grassy Mountain project. We are fully confident about the value of this asset and the ability of our team to get the job done," Mr. Fronk said. The company also reports that 1.35 million incentive stock options were granted to key non-director employees of Calico at a strike price of 16 cents per share and exercisable for five years. Of these options, 675,000 vest immediately, while the remaining 675,000 will vest on the achievement of specific corporate objectives.
Are you able to provide current house position please? Thanks!
I'm afraid today is the last day of the madness.
I lost big bucks and my faith long ago and can't even remember when was the last time I traded NOT. The only reason I'm here is because I saw the sudden drop in sp this morning and wanted to remind you of the gap.