Laurion Mineral Exploration Inc V.LME

New CFO, thoughts?

[Wmaver]

New things are good right?

[matlas]

Not always, but it should be noted that a CFO plays a very important role during a buyout in terms of supplying and organizing financial info required by buyer and other professional advisors.

[Wizzle]

I don't like this.  I don't know anything about the old or new CFO but it seems odd to me someone would resign at a company where they beleived a buyout was weeks away.  The new CFO might be more suited to the buy out, but if this buy out is in the near future he sure doesn't have a lot of time to familiarize himself with the company.  

[matlas]

How do you know he resigned? Maybe they decided to replace him because they thought he was not up to the task?

[Wizzle]

"08:53 AM EDT, 10/05/2022 (MT Newswires) -- LAURION Mineral Exploration Inc. (LME.V) said Wednesday that Miles Nagamatsu resigned as CFO of the company. The company has tapped Tyler Dilney to serve as its new CFO. Dilney has previously served as a controller and consultant for various public and private organizations."

[matlas]

Sorry, you are right. But, he may have resigned at their insistence. He may have gotten a "golden handshake" too. They are not going to write that he was canned.

[Wizzle]

This is true  We do not know the context here, but I think it is pretty reasonable to see this move as contradctiry to the idea an annoucment for a buyout is in the immediate future.  

[matlas]

I don't agree that is necessarily true.

[HMcanada]

Good morning all;   having been through similar situation on a past M&A: I believe there is a good and bad to this event: The bad; in my opinion it relates to an acquisition that went wrong. Going to back over the last few PR's, and factoring in the AGM notes, looks like they, in negotiation found few issues that derailed a potential acquisition. Having announced working with DRA

[poetprose]

Interesting take but seems quite plausible. These things ALWAYS get front-ran. Of course insiders have to stay quiet but in the end, the news always gets out. The fact that we haven't seen a steady ascent of the price closer to a buyout price is telling enough.

[JoJoHairBlo]

Deos the CFO still get access to all of the stock options he had during his time with the compnay, even if he resigns? It seems wierd the he "resigned" immediately following the recent vote and re-confirmation of the rolling executive stock package.  Pehaps this might have been the golden handshake?

[Hammerbrl]

He was a part time CFO i believe. Now we have a FT CFO in the mix, and in house.  This is a strategic move to ensure that the when the sale of the company happens, all manner of accounting stays in house without the possiblly of leakage. 

[matlas]

That's an interesting take Hammerbrl. Or, as I suggested, they just thought that the guy they had was not up to the job. Either way, I am sure that it was LME who decided that he should "resign", not him.

[Wizzle]

I certainly feel better knowing this.  Is there anywhere that this info about him being PT vs the new FT CEO is written down?

[Hammerbrl]

If you look him up, youll see his historical work and current workings other than LME. It is not uncommon for hire a part time CFO is the workload is justified to fit.  When you have a FT CFO coming in, that could be a very positive signal imo.

[Wizzle]

Any possibilty that they dumped him in anticipation there could be a conflict of interest between his role with LME and any possible buy out? 

[Hammerbrl]

Possbily but doubtful.  That would of been rectified at an earlier date imo. The CFO's role will be very busy if there is interest in a buyout, to the point of no time available for other work.  It may be as simple as that. Today and yesterday sell off was around this news and of course the sentiment around the AGM.  If you study the sale of shares, there hasnt been a massive

[Wizzle]

Wow, he is a busy guy, "Currently, Miles A. Nagamatsu holds the position of President for Marlborough Management Ltd., Chief Financial Officer at Eloro Resources Ltd., Chief Financial Officer at Laurion Mineral Exploration, Inc., Chief Financial Officer at GreenBank Capital, Inc., Chief Financial Officer at Forsys Metals Corp., Chief Financial Officer at Cartier Iron Corp., Chief Financial

[Hammerbrl]

Exactly

[Neil68]

HMcanada, Interesting comments. I see where you are going with this and agree it would be significant. I do have a couple questions. How would we know if Cynthia were to move closer to the mine (Ishkoday)? Would a change of residence warrant a News Release? Where has she been living all these years if not close to Ishkoday?

[ilovexau]

Cynthia is already residing in Beardmore. This is not news. Her posts have all been about her being onsite and a boots on the ground CEO. I believe it's been that way for a year already.

[Libsoui]

Fact he resigned does not bode well.  LME have been coy but it looks like there is no definitive interest. Any company can claim to be an acquisition target or use the word potential. It seems more to me an attempt to keep the share price high but the market has seen through it.