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Is Menell the "diamond in the rough"?

Fitzy
May 15, 2012 03:40PM

I also see his appointment of Chairman of the Board as very positive news for Shore Gold and their shareholders. Brian Menell is well respected in the diamond industry and there may be much more to this announcement than we know at this time... especially since we recently learned of his relationship with KKR, a private equity firm who want to form a diamond major.

FWIW, I find it interesting that there is no mention in the News Releases of the time that Brian Menell spent as CEO of Magma Resources, which was part of the Steinmetz Diamond Group. I felt his addition to Shore Gold's Board of Directors in 2003 was to protect Steinmetz's best interests. JMHO Steinmetz did hold a 9.4% interest in Shore Gold at the time. Below please find 2 old News Releases that shows more information about Brian Menell and Magma Diamond Resources. See what you see...

Stock Symbol: SGF: TSX Venture Exchange August 21, 2002
SHORE GOLD INC. Saskatoon,Saskatchewan
SHORE GOLD ANNOUNCES C$1.875 MILLION PRIVATE
PLACEMENT WITH MAGMA DIAMOND RESOURCES LTD.
Jonathan Challis, President, is pleased to announce that Shore Gold has closed a C$1.875 million private placement with Magma Diamond Resources Ltd., subject to Exchange and regulatory approval. The private placement consists of 2.5 million units at a price of C
.75 per unit – each unit consisting of one common share and one share purchase warrant, exercisable at a price of C$1.10 for 18 months from the date of closing. The company is delighted to welcome this significant new shareholder and believes that Magma’s expertise will greatly help in completing the proposed 25,000 tonne bulk sample over the next 12 months.
Magma is a newly formed company whose sole purpose is equity and debt participation in diamond mining and exploration projects worldwide, and the adding of value to these projects through the provision of technical and marketing expertise. The shareholders of Magma are:
· BSG Investments – the majority shareholder of Magma. The principal of
BSG, Benny Steinmetz, is an international investor with extensive
investments in diamonds, natural resources, engineering, real estate;
· Bateman – the world’s foremost provider of process and recovery
expertise and equipment to the diamond mining industry. Bateman
also has extensive in-house capability in the preparation of diamond
mining feasibility studies and project financing;
· The Steinmetz Diamond Group – one of the world’s largest integrated
diamond marketing and trading companies with offices in Antwerp, Tel
Aviv, Mumbai, Johannesburg, New York and Chicago;
· Brian Menell – the CEO of Magma who has 14 years of experience in the
diamond marketing, mining and exploration industries, including eight
years with the De Beers Group and three years as an executive director
of Anglovaal Mining Ltd.
Shore is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the trading symbol “SGF”.
For further information please contact:
Canada: Kenneth E. MacNeill, Chairman & CEO at (306) 664-2202
Europe: Jonathan Challis, President at 011-44-1732-465174
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More...

Stock Symbol: SGF: TSX Venture Exchange


March 7, 2003

SHORE GOLD ANNOUNCES THE APPOINTMENT OF A NEW DIRECTOR

Kenneth E. MacNeill, Chairman and CEO of Shore Gold Inc. ("Shore"), is pleased to announce the appointment of Mr. Brian Menell as a new director of Shore. Mr. Menell is the CEO of Magma Diamond Resources Ltd. ("Magma") and has 14 years of experience in the diamond marketing, mining and exploration industries, including eight years with the De Beers Group and three years as an executive director of Anglovaal Mining (Pty) Ltd.

Magma is a newly formed company whose sole purpose is equity and debt participation in diamond mining and exploration projects worldwide, and the adding of value to these projects through the provision of technical and marketing expertise.

The Company is delighted to welcome Mr. Menell and believes that both Mr. Menell's and Magma's expertise will greatly assist with the Company's current 25,000 tonne bulk sample scheduled for completion within the next 12 months.

Shore is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the trading symbol "SGF".

For further information please contact:

Kenneth E. MacNeill, President & C.E.O.; George Sanders, Vice President Corporate Development; or George H. Read, P. Geo., Vice President Exploration at (306) 664-2202
Re: Is Menell the "diamond in the rough"?

Fitzy
May 24, 2012 12:30AM
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