RE:Ian Peres ResignationPersonally I would have expected the market to react negatively. Typically does when a CFO resigns for whatever reason, and in this case the CFO is also the President.
To its credit the stock is holding and if anything showing some resilience to the news.
I have to thank Ian as he piqued my interest in Moneta years ago, albeit for all the wrong reasons. Spoke with him when I held a small number of shares though was considering buying more. After a fairly lengthy conversation I left with the impression that Ian should have been a used car salesman. This gave me the feeling that the stock would have peaks and valleys to come and so that is exactly how I played it. Bought mainly whenver it was below 10 cents and sold as soon as the next PP was announce... then repeat. It has worked nicely for me over several cycles since.
I do think that the upcoming change will lead to a stonger company coupled together with the continued rise in the price of gold. I also believe that ME will not be without suitors for much longer. Will be looking to buy back in by late September and ride the Fall/Winter out to see what might happen.
Ian remains a director so he has not severed ties completely which is a positive sign.