RE:RE:CEO enhancing KRN I agree withTimtim, in the last 10 months we have seen the whole potash industry fall. There has been layoffs and downsizing at every mine in Saskatchewan, PCS, Mosiac and Agrium have all had let go of a lot of jobs. I don't see how changing the CEO, the founder, inventor and creator of Karnalyte to a nuclear professor IMHO will change anything. If finance and new blood is required, wipe the slate clean and change out all the failing management. Why is the CFO still there cause he is part of the failed management fund raising team also? Magritte posted "what we needed now was not a technical guy but somebody who can get the financing done."
You couldn't have said it better. What does the technical guy have to do with financing? Replace the people responsible for financing. The old CEO created a resource and technology to the company. Completing an EIS, Feasiblity and signing India. What has the CFO done? Other then sell shares and started the spiral in share price last year. Then ukralali happened.
The new CEO has some credentials but if you look closer they are pretty pumped up. Ontario hydro he was appointed CEO in 93 and in 94 (20 years ago) they retired him. Secondly when you look at his linkedin portfolio and actually search. Kenneth Macleod (founder) was the CEO of Western GeoPower and was replaced by Daryl Clark (director) who sold the company to GTO and another company came in and RamPower Corp was created. Drolet was the CEO of Western GeoPower SPA, a subsidiary project in Chile of the parent company under Kenneth Macleod. He was a director and if I was to guess this is his expertise in mergers. Push out the founder and sell it out to as many potential interests available. After Kenneth Macleod was released, the company was sold 2 months after. Karnalyte will get built and create jobs for us saskatchewaners but not in the shareholders interest.
Resignation in 1994 was CEO in 1993 of Ontario hydro
https://www.24hgold.com/english/news-company-gold-silver-appointment-of-thomas-s-drolet-to-the-board-of-directors.aspx?articleid=146128
https://www.skyharbourltd.com/news/index.php?&content_id=409
Looks familiar??
https://ram-power.com/news-media/ram-power-corp-completes-business-combination-polaris-geothermal-inc-and-western-geopower
https://www.marketwired.com/press-release/western-geopower-welcomes-new-directors-daryl-s-clark-and-harry-knutson-1009437.htm
https://thinkgeoenergy.com/archives/2376
Makes you wonder why this guy was brought in? It looks like Daryl Clark's action plan at Western GeoPower. The share price will go up only because the company is for sale not looking for a partner. This new mangement still has not told investors anything other than what Maggrite post. Which I think may be IR for KRN... Lol. It's a pump and dump now!! Potash One sold for $427 million with way less than KRN has completed. That should be the minimum by industry standards.
Jerichoj