1. In 2012 Coeur hires Randy Buffington to be the ultimate replacement for Leon Hardy.
2. Leon Hardy resigns as principal operating officer as of 12/31/2012, and is replaced by Randy Buffington.
3. So far, so good ......
4. On January 17, 2013, Randy Buffington resigns as principal operating officer and is replaced by Frank Hanagarne, the CFO. (per item 5.02 of the 8-K filed this morning, January 18, 2013)
"Allied Nevada Gold announced that Randy Buffington will join the company as Executive Vice President and Chief Operating Officer on February 4, 2013. In addition to managing all aspects of current operations at Hycroft, Randy will provide oversight to the technical services, metallurgy, permitting, engineering and construction teams."
I don't know where Mr. Buffington's last address was, or was to be, in CDE, but his life history included managing in different desert places. He'll like Winnemucca, I'll bet. It isn't the big city. Maybe he was already in Winnemucca with CDE. I don't know. Anyway, he sports a nice title to match his fine resume. Happy trails to him.
Rock_ For what it is worth, Frank H. came on board with Coeur as CFO in Oct. 2011, the same time the Rye Patch fiasco was unfolding. He was too late to have caught that error so likely he is blameless. We might be able to deduce more from this timing if we knew who was suppose to be mending the store while the CFO position was vacant. Seems most likely, though, that the shakeup is a result of the pending move out of Coeur d"Alene.