Listed below are my summary comments from a conversation that I had with Chad today:

Why did you resign from Victoria Gold as President and CEO? PART #1

According to Chad, he simply feels that he did not have the skill set to transition our company from being a pure exploration company to one that is focused predominantly on mine development. Furthermore, mine development is not something that Chad feels is particularly exciting for him. Chad expressed his confidence that our new President and CEO, John McConnell, has the skill set to move us forward to developing a producing mine(s).

A fellow poster agrees with my comment above:

“This is a normal process for junior mining co's. During the exploration phase companies have Presidents and CEOs that specialize in exploration and when they make the transition to the development phase they change their CEOs to people who specialize in the development stage. There is no reason to believe that Chad did anything wrong, this is the way it goes. Chad will most likely be hired on as a President on another junior exploration company.
Mr. Harvey is also chairman of Andina Minerals (ADM). This same thing occured with them about a year and a half ago.”

One of Chad’s biggest accomplishments during his tenure as President and CEO, was his ability to add value to our stock through his multi faceted marketing campaign. Before Chad was recruited to become our company’s President and CEO, our company’s stock wasn’t even on investor’s radar screen – our average volume of shares traded in our stock was well under 50,000 shares a day, we had no stock analyst coverage, and virtually no institutional stock ownership other that the shares held by Kinross. Today, our stock’s daily trading volume often exceeds 500,000 to a million shares; we have approximately 8 or 9 stock analysts that cover our company, and we have almost a dozen institutional investors or large private investors that own shares in our company. The bottom line, Chad has been very successful in adding value to our company. After my conversation with Chad, I find there is no foundation whatsoever that there is anything sinister about Chad resigning. He is doing the right thing again – letting an experienced mine developer take the helm and move us forward in developing a producing mine(s). Keep in mind, our company will still benefit from his guidance, since he is retaining a position as one of board of directors. He has a vested interest in making sure our company does the right thing to add value for its shareholders. He still owns 2 ½ million shares + another 2 million outstanding stock options. He hasn’t sold any of his shares, and that – in itself, should be a confidence builder for stock holders.

THIS IS THE FIRST INSTALLMENT OF SUMMARY COMMENTS THAT I HAVE CREATED AS A RESULT OF MY CONVERSATION WITH CHAD!