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Allied Nevada Gold ┼×irket Message Board

  • tstevens622 tstevens622 May 16, 2013 11:53 AM Flag

    Buchan Share ownership

    Does Bob Buchan own any shares of this company? I am unable to find any evidence of shareholdings by him.

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    • All board members need to step up and buy large amounts of stock right now! Thats about the only thing that might give investors some confidence after his blatant lie about dilution!

      Sentiment: Strong Sell

    • He started the company. My guess would be "yes".

      Sentiment: Hold

      • 2 Replies to benandemmiboo
      • I wasn't aware that Buchan "started" ANV, though he's been there from the start, so I guess he did start it. I remember Buchan when he was CEO of Kinross (KGC) - I owned shares there for a time, when he was in charge. He was "ok" there, not great IMO. KGC did a 3-way merger with Echo Bay and TVX which turned out to be a terrible thing for KGC. That's because the Echo Bay silver mines were high cost, remote (and cold, as in northern Canada) which were not cost effective initially. I think they sold those mines, which would be too bad given the later price rise in silver. TVX was worse - they had high grade gold deposits in Greece as their main assets, but the Greek government would never let them mine there (environmental concerns, perhaps legitimate, and Greeks didn't care about a North American company).

        As I recall KGC also had a mine in Zimbabwe, which they mined as much as they could - but the government there was antagonistic to foreign (i.e. majority white owned) mines, and they had to hire a lot of security to keep it going as long as they did. They did not invest in continued production there, for obvious reasons. KGC did pretty well with mines in South America, but that's a bad political climate now. And KGC actually did well with a mine in Russia, but investors always worried about it anyway, so it didn't get the valuation in the stock market that it otherwise might have gotten. I think Buchan learned the lesson that political climate is very important. So ANV is Nevada only, and presumably will stay that way.

        Sentiment: Strong Buy

      • Perhaps he started it with other people's money and continues to run it using other peoples money.