Tuesday, July 8, 2008

The New Guy (on the block)...at CMM

Someone posted on this Board on July 3 that the New Guy who was brought in to help straighten out the mess at CMM is Tim Gooch from down-under. He was Managing Director for View Resources Ltd.
Here is a weblink to the Management & and Directors of View Resources, to give you an idea who Mr Gooch is:
http://www.viewresources.com.au/directors.php

The sooner Tim Gooch takes over at CMM as CEO, the better, IMHO

3 comments:

nino said...

From investor village, posted on TAM but I think BJ was talking about CMM.


Brents prompt reply: for those who don't think CMM and TAM aren't joined at the hip read carefully.
Thank you for your email. I will give you a brief recap of the voting and events. There were approximately 20 or so people in attendance. 12-15 of those were shareholders, brokers or others not employed by, or Directors of Century. There were a total of approximately 86 million votes by proxy, or just over 50% of the outstanding shares. All resolutions passed, but the options plan was the closest vote, with about 60% for and 40% against. The voting results for the directors were: for Ambrose, Campoy and Lettes: 90-95% 'For'. Kent, Burns and Sheridan were a bit lower with between 70-75% voting 'For'.The meeting started at 3:00 and lasted for about 2 hours. There were many questions asked, including the financial state of the company and the plans to restore investor confidence, and ultimately the share price. I guess the easiest way to sum up management's message at the AGM is that the Board is completely focused on completing the debt financings and quickly expanding production at Lamaque. Certainly there are many other issues, but these two will be the top priority over the next few months.Thank youBrent

production05 said...

IMO, Margaret Kent is more of a deal maker and is not a technical miner. In my view, the core problem since the inception of Century Mining is as follows:

Margaret Kent, relied heavily on her technical people (especially McNutt), with the results being disasterous almost every single time.

IMO, Ms. Kent either failed to realize her limitations or refused to accept it. Either way, shareholders paid a HUGE price. She should have hired a more technical CEO (to replace her) years ago. The BOD failed also, for not carrying out their fiduciary duties, IMO.

They need to make Tim Gooch the CEO, ASAP! He needs to become the face of the company, and have PK fade into the backrooms (she can still play a role with Corporate affairs, but stay away from the technical work, and especially when it comes to providing production guidance).

"Tim Gooch is a qualifified mining engineer with over 25 years experience in the mining industry..... Companies worked for include BGC Contracting, Jubilee Mines, Ashanti Goldfields and Australian Resources."

EVERYONE HAS THEIR FLAWS AND LIMITATIONS, but he brings over 25 years of successful technical experiences, with reputable companies. He should have the abilities to build a real mine plan, put together real guidances, but most importantly, be able to tell right away when he is being fed big time crap from the likes of McNutt.

IMO, anyone could do a better job than what Margaret Kent has done during her tenure as Century's CEO. But as an added bonus, Tim Gooch appears to have the technical background that we so desparately need, especially with what we are attempting to accomplish at Lamaque.

Make the change right away!!!

Anonymous said...

Production, Tim Gooch was at Lamaque all last week. He's been there at least three times in six weeks employment at Century. He supports the workforce which could come in handy. His hands-on approach at Lamaque will position him to become CEO.