RE: CEY's West African Mine27 Apr 2021 22:47
Thanks Dasut from an old article it seems our leader Martin Horgan is the man to do it.
"Not every company can make it through from grass roots exploration to production like Toro did though. In the case of Toro it required a quality asset in the form of Mako, which at the last count boasted a reserve of just under 900,000 ounces, and which has been producing ahead of budgeted costs.
But it also required a management team well versed in the mining world that knew how to build projects and find funds and keep all the necessary ducks in a row. Martin Horgan, the chief executive, is ex-Barclays Capital, from the days when Barclays was a real force in mining, and has a track record in management too.
His approach to fundraising was meticulous and exemplary, always involved cornerstones, and if it’s true that not every round was done at a higher price than the last, it is at least fair to say that the current exit price looks like a win all round.
He has been helped along the way by Adonis Pouroulis, a man responsible for the creation of the world’s fourth largest diamond company, and latterly by Nick Clarke, once voted CEO of the year by the Mining Journal for his stewardship of Central Asia Metals (LON:CAML).
Between them, these guys have shown that the pain and unrewarding graft of supporting a valuation on equity markets where liquidity is low and sentiment is anaemic, isn’t always necessary. There is another way to go.
Horgan will likely bank an extra bonus through the change of control clause in his contract, but for the run-of-the mill Toro investor this looks like a win too, with further upside still available through participation in Resolute.
https://www.proactiveinvestors.co.uk/companies/news/224783/toro-golds-us305mln-acquisition-by-resolute-shows-that-you-dont-have-to-be-listed-to-make-a-buck-224783.html
Sign In
Follow the stocks
