EAR (ASX) So Why Would He Resign?

Originally posted by Gwaihir ↑

This was the comments by CEO Simon Coxhell at Diggers and Dealers in 2018.

So Why Would He Resign?

Does anyone know the REAL Truth?

(Diggers and Dealers 2018)
(Echo closer to maiden pour at Bronzewing)

"Echo Resources boss Simon Coxhell remains upbeat the junior explorer will transition into a gold producer within nine months in the wake of revealing it is homing in on reigniting the defunct Bronzewing mill.

After releasing the bankable feasibility study for its flagship Yandal gold project in the northern Goldfields yesterday, Mr Coxhell told the Diggers and Dealers mining forum yesterday afternoon the junior was poised to deliver its maiden gold pour next year.

The flagged $40 million development includes outlaying $19.4 million to refurbish the 1.8Mtpa Bronzewing plant, 83km north-east of Leinster, to achieve the producer status.

Despite Mr Coxhell’s bullish opinion, investors have a different outlook on the Northern Star-supported junior with stocks falling 3¢ to 19¢ on Monday.

However, Mr Coxhell maintained the Yandal project, which includes the Orelia and Julius open pits, would prove fruitful for the once “struggling exploration company”.

“In 21/2 years we have grown from a struggling exploration company into a near-term gold production company, aiming to be producing gold within nine months,” he said.

“The transition from junior explorer to producer comes with its challenges but I know we’ve got the right people in the right places at the right time to do what we are saying we are going to do.

“We don’t believe we have overcooked anything in relation to the reserves and undercooked anything in relation to capital, operating costs, refurbishment scope and timing.”

Echo has flagged it will produce 380,400 ounces in the first 3¾ years of production in the first stage through the Julius and Orelia deposits.

The study found all-in sustaining costs would be $1035 an ounce, with a 12-month payback period.
Yandal will produce almost 750,000oz over an 8½ year mine life if the second stage is approved.

(End Quote)

Gw

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In my opinion senior mining co execs are mainly motivated by performance rights, they have the largest returns. Now, what if (just what if) they became aware they may not receive them for whatever reason e.g. redundancy because of a take over, would they stick around? Just a what if IMHO. Also, if someone like NST took them over why would they need EAR CxOs when the jobs would be done by NST CxOs? Of course this may not happen. Just idle speculation on my part trying to find an explanation LoL

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