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Message: news

Re: news

in response to by
posted on Sep 15, 2009 01:00PM

I saw red myself when I first read the news and emailed IR with some concerns. Rich's reply made the news somewhat more tolerable. I've had numerous discussions with PQ on the need to strengthen the board, which will happen once the mill is operational, making enough dollars to move to the next stage, which is developing a mining plan for the mountain. At that time PQ will hand over the reins to experienced mine management. Also building the 3-D model requires continuous imput of info as it comes available from the geo's, so I don't think a short turn contract would be the answer. Here's the reply from IR...

He will bring in the necessary talent to build the 3-D model using the Vulan program with the assistance from the geologist. He doesn’t own a lot of shares and his pay will be just that of directors participation which is very little. Unfortunately, everyone dislikes PQ at the moment due to the delay of the mill. He has been working on it and this should be the main focus. Again, PQ has said time and time again when things are settled and the company is pushing forward, he will turn the company over to the next level of talent. At this juncture, to conserve capital, I think it is a positive to find talent without paying through the nose for such talent.

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