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Ferro Iron Ore Corp V.RRO



TSXV:RRO - Post by User

Comment by ja_prufrockon Feb 26, 2010 2:08pm
435 Views
Post# 16824245

RE: Why R Directors bailin

RE: Why R Directors bailinWhen Mr. Gutnick rescued ADA late last year it was fairly certain that the legacy management would not survive.  At that time Gutnick probably spelled out in rather straightforward terms that he would be running that ship and immediately installed 3 of his men to the ADA board.  Probably by previous agreement, another (His Man in Havana)was installed on the RRO board intimating that he would usurp control of RRO, if he liked what he saw.  Apparently, Gutnick liked the potential of RRO.  After approximately 3 months Gutnick's staff has taken controll of both operations, and the legacy boys are gone.

To me it appears that Gutnick is a real administrator and understood exactly what had to be done to turn each of these companies around.  He has installed his trusted men to execute his strategy, and he has moved on to other aspects of his business empire.   The new broom has "swept clean" and "the kings men" are in place.  It appears very positive for both ADA and RRO.  JMHO

Kind Regards,

JA_P
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