So the “throwing out” of Greg Chamandy is finally complete. He bought his way into Richmont during 2009, proceeded to run the company into the ground and I think he is still the largest shareholder. Now that the company is ACTUALLY RUN BY MINERS, one can see what happens. It isn’t always JUST what is in the ground, but the people who extract it. I saw this coming for awhile which gave me an edge in Richmont sub 3. When companies are actually run by miners like Renaud Adams and Rene Marion, you get results. Stick to companies that are run by miners.
I don’t know what this means entirely, but it could either be a continuation of things set in motion to change the management or it could have something to do with the rumored TAHO deal. Anyways, his millions of shares floating out there kind of scare me.
I mean, seriously… this guy was CHAIRMAN OF THE BOARD OF A GOLD MINING COMPANY FOR 7 YEARS.
“Mr. Chamandy is the co-founder of Gildan Activewear Inc. He held the position of Chairman and Chief Executive Officer of Gildan from its inception in 1984, until retiring in 2004. In 2004, after creating the proper structure to replace himself, Mr. Chamandy retired from Gildan in order to pursue other interests. Mr. Chamandy subsequently became the Chairman and co-owner of Europe’s Best, North America’s largest selling brand of frozen fruit, which was sold to JM Smucker in 2008. Mr. Chamandy is currently also the Chairman of Oxbridge Group Inc., and the Chairman of Liquid Nutrition Inc., a Canadian smoothie and juice bar chain.
Mr. Chamandy has been a Director of Richmont Mines since May 2009, and was Chairman of the Board from December 2009 to January 1, 2016.”