Multi-Billion Dollar Company Terminates CEO

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The Board of Directors of Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) today announces the termination of the President and Chief Executive Officer, Sébastien de Montessus, for serious misconduct with immediate effect. This follows an investigation by the Board into an irregular payment instruction issued by him in relation to an asset disposal undertaken by the Company. The amount of this irregular payment instruction is US$5.9 million. The Board recently became aware of this in the course of a review of acquisitions and disposals, which is ongoing. Sébastien de Montessus has been removed from the Company’s Board of Directors with immediate effect.

Separately, in October 2023 allegations were made against Sébastien de Montessus through the Company’s confidential whistleblowing channel relating to his personal conduct with colleagues. Following a recent external investigation, the Board had received the findings and, at the point of termination, was considering the appropriate course of action.

“Separately, in October 2023 allegations were made against Sébastien de Montessus through the Company’s confidential whistleblowing channel relating to his personal conduct with colleagues.”

‘Personal conduct with colleagues’

What juicy gossip. Hmmm... @Mark_IKN, love him or hate him, always on the ball.

Oh and of course the US$5.9 million irregular payment instruction.

Remuneration

Full details of the impact of the termination of Sébastien de Montessus on his remuneration will be disclosed on the Company’s website in due course in compliance with Section 430(2B) of the Companies Act 2006 and in the Directors' Remuneration Report within the Annual Report and Accounts for the year ended 31 December 2023, and subsequent years, as appropriate.

This news release crossed the wire on Jan 4, 2023, at 1:21 PM EST and $EDV closed at $25.98 🔻2.91 (10.1%).

What is 10% of a ~6 billion dollar company?

Based in London, this is probably not the last of the selling pressure as the markets operate on different time zones and haven’t had the opportunity to react to the news yet. We will get a better picture this morning.

DLP Resources Intersects 451.2m of 1.04% CuEq* Within a 773.2m Interval of 0.82% CuEq* on the Aurora Project in Southern Peru and Appoints New Chief Financial Officer

Just in yesterday’s article, we mentioned in our $BEX review that so many companies on Canadian exchanges use CuEq. So let’s see why $DLP put an asterisk by CuEq.

Note: Copper equivalent grades (CuEq) are for comparative purposes only. Mo, Cu and Ag values are uncut, and core recovery is assumed to be 100% for the entire drilled length of A23-013 except for intervals from 0.00m to 33.00m and 484.00m to 498.00m where core recovery was below 50% due to leaching and faulting. The project is at an early stage of exploration and conceptual recoveries of Cu 85%, Mo 82%, and Ag 75% are assigned to the CuEq calculations. Conversion of metals to an equivalent copper grade based on these metal prices is relative to the copper price per unit mass factored by conceptual recoveries for those metals normalized to the conceptualized copper recovery. The metal equivalencies for each metal are added to the copper grade. The formula for this is: CuEq % = Cu% + (Mo% (Mo recovery / Cu recovery) (Mo $ per lb / Cu $ per lb) + (Ag g/t (Ag recovery / Cu recovery) (Ag $ per oz/ 31.1034768) / (Cu $ per lb 22.04623)).

*Copper equivalent calculations use metal prices of Cu - US$3.34/lb, Mo - US$18/lb and Ag - US$21.87/oz.

CEO.ca - Trending Companies Page, Jan 4 8 PM ET

Starting the new year with a rather casual press release, but it's evident that retail investors are quite enthusiastic about this stock as it is the 2nd most trending stock on ceo.ca.

We revisited the chat board on September 26, 2023—the day the company's news sparked a significant sell-off. Despite the company's strong performance leading up to this event, there was undeniably a high level of excitement among retail before market open.

Along with some classic Wolf of Wall Street GIFs.

No position here as Wingman is afraid of possibly having missed the lithium train already, but given it is the 2nd most trending ticker, maybe 2024 is the year. We hope all $NILI holders who had the patience to hold on the way down will make a few bucks.

VANCOUVER, BRITISH COLUMBIA – Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV:CDB; OTCQB:CDBMF; otherwise "Cordoba" or the "Company"), is pleased to announce that the Company has received the second installment of US$40 million from a subsidiary of JCHX Mining Management Co., Ltd. ("JCHX") pursuant to the Strategic Framework Agreement ("Strategic Agreement") between JCHX and Cordoba for the joint-development of the Company's flagship Alacran Project in Colombia (refer to Cordoba's news release dated December 18, 2023.

Are we reading this right?

Did this company receive US$40 million and have a market cap of C$32.33 million?

$CDB closed yesterday at C$0.36, up 0.015 (4.3%).

DM @Wingman on ceo.ca if you have been paying attention to this stock for some time. Will be doing some reading tomorrow but would love it if someone gave us a quick 10,000ft overview of this company.

But today was a busy day and need to recharge. Cheers 🍻

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