IKN

Take physic, pomp

Colossus Minerals’ (CSI.to) revolving door minebuilder

Maybe it’s just a tough place to live.

In May 2011 Colossus Minerals (CSI.to) lost its Chief Operating Officer (i.e. the man hired to build the mine), Randy Reichert, who was also company president at the time. He was replaced by Paulo de Tarso Serpa Fagundes.

In July 2012 Paulo de Tarso Serpa Fagundes resigned from his post (and according to his LinkedIn page he’s still an “executive in career transition”, such a pretty phrase). To replace him, Lyle Pritchard was promoted internally and given the title Vice President Operations.

Today, November 2012, Lyle Pritchard resigns from CSI and there’s no replacement on board as yet.

TORONTO, ONTARIO–(Marketwire – Nov. 8, 2012) – Colossus Minerals Inc. (the “Company” or “Colossus”) (TSX:CSI)(OTCQX:COLUF) announces it has commenced a search for a new Chief Operating Officer to replace Mr. Lyle Pritchard, former Vice President, Operations, who is no longer with the Company. Claudio Mancuso, President and CEO, will assume the management duties formerly handled by Mr. Pritchard while a search is undertaken to augment the production and construction teams at Serra Pelada.

It reminds this humble scribe of that quote from The Importance of Being Earnest by Oscar Wilde, “To lose one parent, Mr. Worthing, may be regarded as a misfortune. To lose both looks like carelessness.” By the way, that play was subtitled ‘A Trivial Comedy For Serious People’ which fits the world of junior mining well, too. But seriously, what the devil’s going on at CSI? Why can’t they keep their minebuilders on board? Three changes in 18 months demands a little more than a terse, five line NR.

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