I liked having Barrick EVP Rob Krcmarov on NUG's board...Now I realize I like Former Barrick VP Ed Cope even better. VP of Exploration, Cope, reported to Exec. VP of Exploration, Krcmarov. I worried we might be getting a demotion. Cope was no longer with Barrick. But we really weren't getting a demotion, we just got a better fit. Rob Krcmarov's plate was too full, and getting back to that hoped for bidding war I mentioned in my last post, where would Rob's loyalties rightfully lie? Hint: Where he gets his paycheck.
Did you know Director Cope just personally bought 500,000 units of the Private Placement? I'd say he's on board with NUG. Ed often attends conferences with management. He brings credibility and expertise to meeting potential investors.
Director Cope had the most prominent quote in the August 1st VIO press release:
NuLegacy director, Ed Cope, comments, "With the Red Hill property at the juncture of the Cortez gold-trend and the sub-parallel Northern Nevada-rift (as illustrated below), we have the good fortune (and attendant complexity) of having both a younger prospective epithermal-type target on the western end of Red Hill, (analogous to the Midas and Mule Canyon mines just to the north) occurring in conjunction with older Carlin-type gold systems (analogous to the Pipeline, Cortez Hills and Goldrush-type mines just to the north-west) in the central portion of the property where we have to date discovered the Iceberg and Serena deposits and Avocado target."
Here's some text from the January 24, 2017 announcement of Ed Cope joining:
"As VP Exploration, Edward reported to Rob Krcmarov, Barrick's current representative on NuLegacy's Board. Their shared ability to recognize, attract and develop geological talent created the remarkable exploration team responsible for the significant growth in Barrick's Nevada reserves and resources. The team discovered substantial additional ounces of gold at existing mines, and discovered the huge standalone gold deposits at Goldrush and South Arturo.
In 2014, Ed and Rob were, along with their team members, co-recipients of the Prospectors & Developers Association of Canada Thayer Lindsley International Mineral Discovery of the Year
award for the discovery of the 10+ million ounce Goldrush deposit, located adjacent to NuLegacy's recently discovered Avocado and Iceberg gold deposits.
Ed Cope managed Barrick's deposits in the Carlin & Cortez trends. He brought more detailed local knowledge than Rob, and he has the time. I expect he's having fun too.
Anyone else think Ed Cope may have played a major role in recruiting Mr. Charles Weakly from Barrick last November 27th? The multi-million value of Charles's experience exceeds Barrick participating in the financing. Both companies should see a return on the "investment" in Charles.
Ed Cope, we are blessed to have you.
Of course the fuse is lit.