Member Info for Impecunious2

Hi, Welsh.

It's worth pointing out that there is a precedent for a CEO staying on with the company in another capacity. Callum Baxter was the CEO, when Gervaise arrived; and was then appointed Chief Technical Director. So if Gervaise becomes chairman, or a non-exec, we will have two former CEO's on the board (which I'm entirely in favour of).

Hi, Chester.

Zoros, 9.48 yesterday.

Surely, the best thing would be for him to be appointed as a non-exec. This would allow him to have plenty of leisure time, or time for other business interests, while still giving him some input into company strategy and PR (both of which he's obviously good at). At the moment, we have Clive Latcham as a non-exec, whose re-election was opposed (rightly or wrongly) by 28% of those who voted at the last AGM.

be why his support for re-election at the last AGM was less than overwhelming).

Hi, Frannie.

I have emailed LSE with the correct spelling of his name (and a screenshot of the RNS of 15th December as evidence). The fact that Shaun mis-pronounced Gervaise is no reason for us or anyone else to mis-spell Shaun.

Hi, Prof.

No date was given. I think I will ask a question about the non-Paterson assets.

Hi, Jerry.

It's a fair point. I was assuming that any purchase by SD would have to be declared, because of his status as CEO-elect. But I've not checked the regulations, and perhaps they only apply from 8th Feb onwards.

On the other hand, if he had bought, surely it would make sense for him to announce it on Twitter, as that would show he has faith in the company, and probably cause the share price to rise (particularly when combined with Gervaise's purchase).

Hi, Kevin.

I agree with you. Gervaise's purchase makes the inaction of Shaun very conspicuous indeed (I assume he's got plenty of capital from his previous employment). I think he's now in the position where he pretty much has to buy, in order to establish his reputation with the shareholders.

A great CEO. He will be remembered with affection and respect for years to come.

Hi, Colin.

The problem is that mining is a complex and expensive operation. A small company (such as GGP, which has a staff of nine on the payroll, four of whom are directors) doesn't have the money, personnel, expertise and equipment to do it. So the only way to get the stuff out of the ground is to team up with a larger company, which does. That is why Gervaise went into partnership with Newcrest, and why our market cap has risen to £1billion.

Hi, Littlecrumbs.

I like the metaphor.

Hi, Tom.

The spelling's fine. One missing apostrophe is all I found.

Nice to see midshipman posting so soon after hornblowered. "Mr Midshipman Hornblower" is one of my favourite novels.

Hi, hornblowered.

Ditto.

Hi, Mickey.

It's an unfair request; both of them already have huge amounts of money invested. The duty falls on the new CEO, who presently owns no shares at all.

Yes, the thought had crossed my mind, too. If he buys now, the share price will recover, which will benefit all of us, and he will be in profit almost immediately, which will benefit him. The circumstances are quite similar to those in March, when a purchase by Gervaise turned the tide.

In my view, the major risk factor is the gold price. If that holds steady, or rises, we're OK. If not, not.

Hi, Drover.

I'm more optimistic than you about newsflow. I think the new CEO will do something with one or more of the non-Paterson assets. This forecast (I admit) sounds rather vague, and reminds me of a company prospectus from the 1720's: "an enterprise of great profit, but nobody to know what." It was indeed of great profit to the directors, but not to the shareholders, who lost everything. That won't happen here.

Unfortunately, Arnold Palmer may have his moment of glory, @22p.

Hi, Dralangrant @16.56.

I'm pleased there's someone as particular in grammar as myself. I like the use of the colon, too; though the semi-colon remains my favourite. This is a serious matter; it's our last defence against barbarism.

Hi, Mullet.

Thanks for the reply yesterday evening.