I'm trying to deal with new trading hardware today so its hard to read and post...but this is important.
The CEO of SLW resigned yesterday.
I have some understanding of these things, something smells bad with Barnes resigning effective immediately and the press release not having quotes such as "he wishes to deal with health issues" or "he wishes to spend time with his family" or "pursue philanthropic endeavors". They are standard statements that must usually accompany something like this.
as I listened to the interview on cnbc today with the new CEO, it became very clear Smallwoods (NEW ceo) investment relations manager gave strict instructions to CNBC that they were not to ask him any questions on Barnes. A lot of those fast money guys on that show are invested in SLW and they probably said ok to not asking the question so that the new CEO could calm the market so that the fast money crews money didn't take a hit. I'm pretty certain those fast money guys are liquidating into the close and they won't tell you about it until days later.
SLW being blocked from rising when SSRI rose 20%, Barnes selling of his shares, and now his resignation don't look very good.
Golden parachutes at that level are usually structure with several months pay being paid per years of service or a flat one years compensation. The guy was there at least 7 years. Resignations in many instances null and voids golden parachutes and why would anyone do that? Termination with cause is often replaced with the option of resignation to save face.
I don't think anyone should own SLW right now. Silver may be live as a long, but don't play it via slw. Wait until the dust settles. Shame.