IKN

To quit this horrid act

What we have learned this year about Rene Marion, President and CEO of Gammon Gold (GRS) (GAM.to)

1) He’s an amazingly lucky seller, managing to get rid of nearly half his personal holding of Gammon Gold (GAM.to) (GRS) shares just before a really bad YE report that saw the share price dump badly.

2) He’s a crap buyer. Those 50,000 shares he’s recently bought back cost him $312,377. With the PPS right now at U$5.10 (and dropping fast), that puts the dude over $42,000 in the hole (forex adjusted, of course).

(click to enlarge)

Y’see, that’s what happens when mediocrity doesn’t have the unfair advantage of rock solid inside information on its side.

So here’s the scorecard on Rene Marion:

  • Couldn’t organize a piss-up in a brewery, let alone run a mine at a profit
  • Has no idea how to count mineral reserves properly
  • Has the labour relations skills of Josef Stalin
  • Gets rich on front-running inside information
  • Can’t trade the market for toffee
Jeesh, they’ll employ anyone these days….

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