RE:RE:RE:RE:same ceo n coo n cio in 2 diferent companoesUrgen1, I think you should do yourself a favor by acting on your own advice, pick up the phone and call the company yourself. I'm sure Fred would be glad to speak with you. I have no doubt that your fears and concerns would be addressed. I’m not sure if you are aware but what you have uncovered is nothing new, Scott Drever, Eric Fier & Barney Magnusson have long held positions at both companies. If you dig a little deeper, you’ll see that they have shared responsibilities between Silvercrest and Goldsource since 2004. And since my initial investment in Silvercrest back in 2008, I have never had reason to question their focus when it comes to running the company. I have no reason to think that is going to change in the future.
As for the arrangement, in addition to certain personnel, the two companies also share some resources like office space. This is actually a cost savings for both companies, which I consider to be a good thing. I might add that while the two companies do share certain key members in their management team, they have different Presidents running the day-to-day operations. Eric Fier is the President of Silvercrest and loannis (Yannis) Tsitos, who has no responsibilities at Silvercrest, is the newly appointed President of Goldsource.
Ultimately, you need to decide for yourself if Silvercrest is worthy of your investment dollars. Personally, I’ve been accumulating shares since 2008 and I’m very pleased with how management has created value in the company. Since my initial investment back in 2008, I have always been aware of the connection between Silvercrest and Goldsource, but I never took a position in Goldsource. That is until a couple months ago when I initiated a position in Goldsource for the first time. The merger with Eagle Mountain was a stroke of genius in my opinion, which is what prompted me to take a substantial position in the company. Both Silvercrest and Goldsource have an extremely bright future. The shared resources between the two companies are not a big deal. If anything, it should be seen as a positive in my opinion, not as a distraction like you have alluded to in your post.
Best, Scott.