RE: RE: RE: RE: RE: RE: RE: Answer Michael Winship "Geezer, I believe MW was not involved in the KGHM acquistion of Quadra/FNX, in fact I believe he was ousted right after deal was made official."
We do not know for sure eactly how much involvement Michael Winship had in negotiations between KGHM and Quadra/FNX, but as Chief Operating Officer at Quadra/FNX at that time I would expect he would have had a role in the negotiations.
The stated reason for the change at Orvana is to have new leadership talent to advance operations and development of Copperwood.
Tomander quoted Winship as saying:
" The board was happy with Bill´s leadership during the operation transition.
Now ORV is looking for a CEO that can take the operations to the next level
and provide developement expertise for Copperwood."
We also get Deborah Bacal stating that also in her article posted on "Proinvestors". https://www.proactiveinvestors.com/companies/news/42494/orvana-minerals-kept-at-outperform-by-stonecap-securities-as-ceo-departs-analyst-says-operations-hit-their-stride-42494.html . She said:
"Winship joined Orvana's board in early March, along with Ed Guimaraes, with Doulis noting that both executives bring "considerable operating experience" to the company, saying the miner's recent focus on strengthening its team is geared toward the development of its Copperwood project in Michigan."
Clearly Fabulosa is pushing hard to get development of Copperwood done and brought in Winship and Guimaraes with that in mind. Fabulosa is not fooling around and keeping a strong hand steering Orvana. They demonstrated that last year when they made staff changes to get things done.
Fabulosa obviously saw attributes in Winship and Guimaras to accelerate the Copperwood project.
Winship's senior position with Quadra/FNX when it was taken over by KGHM and with Hudbay and Guimaras' accounting and administrative background and senior positions held at Aur while it was taken over by Teck certainly gives them experience in takeovers.
Popovich speculated that Fabulosa may want to sell Copperwood. Fabulosa bringing in Winship and Guimaras who have experience in take overs, especially Winship who in all likely hood had involvement with KGHM's take over of Quadra/FMX, lends support to his speculation. KGHM, Hudbay, and Antofagasta are on the lookout for new copper projects and Copperwood is a prime candidate. Popovich said:
"I said yesterday that BW resignaton was possibly due to the fact that Fabulosa (or the board) wanted to sell Copperwood and BW would not agree."