Touchstone Gold: Exciting Times Ahead!Though Bob Buchan has now gone, he retains family representation in the Touchstone Gold boardroom through his son Fraser Buchan, and retains his large (over 10%) shareholding in the company.
And I'm sure that he will also retain his interest in and support for the company.
After all, why wouldn't he?
He's shrewd enough to know just how big Touchstone Gold could be, and I would expect will be targeting a considerable multi-million dollar return on his shares here.
And his departure has created an intriguing situation, whereby the company currently has both its CEO & Chairman posts vacant ... for the moment.
At the same time, the company has relatively recently announced that it is in advanced stage negotiations with two mining companies about deals that that "might be accretive in value for all shareholders" -
1:40 PM EDT September 20, 2013
Touchstone Gold Limited: Interim Update - Marketwired
HTTP://web.tmxmoney.com/quote.php?qm_symbol=tch
Sometimes mergers can be stymied by squabbling over who gets the top jobs.
Whereas in Touchstone's case, these two vacancies - in a dual-listed company - could be attractive inducements to any mining bosses being courted.
Could such a gambit be why Bob Buchan stepped aside?
If so, then positive news on this front may well be imminent.
My strong feeling is Touchstone Gold founder, director, and major shareholder Ilyas Khan is working to create a large Latin American focussed mining concern here.
And from TCH's current market cap. of just C$3.02M. (at 1.5c) the potential upside is obvious.