Capricorn Metals (ASX: CMM)
The board advises that it has become aware that Chief Executive Officer Paul Criddle has been charged with the offence of aggravated assault, a charge to which he has pleaded not guilty. Paul has been granted leave pending the resolution of this personal matter.
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| Capricorn Metals | ASX: CMM | |
| Stage | Production, development, exploration | |
| Metals | Gold | |
| Market cap | A$3.96 Billion @A$9.18 | |
| Location | Western Australia | |
| Website | www.capmetals.com.au |
Comment
Just when Capricorn had become the darling of the market and risen over the A$10 mark, this news comes totally out of the blue to knock it back down again!
The gold price took a dive yesterday, which would account for a few percent of the fall.
To be perfectly honest, I think the 11% fall in the share prices last night is way too harsh, as the company is still mining the same gold at the same price, and exploration prospects have not changed one iota.
Clearly this allegation does not stand the CEO in a good light, but at this stage it’s only an allegation, and everyone is innocent until proven guilty.
With the experienced MD standing in as temporary CEO I see no reason why it shouldn’t be business as usual for Capricorn.
It just goes to prove once again that you can’t take anything for granted in investing, and that’s why I always recommend a diversified portfolio.
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Capricorn CEO Paul Criddle Stands Down During Assault Investigation
The board of Capricorn Metals Limited (ASX: CMM (Capricorn) advises that it has become aware that Chief Executive Officer Paul Criddle has been charged with the offence of aggravated assault, a charge to which he has pleaded not guilty.
Paul has been granted leave pending the resolution of this personal matter. As this matter is before the court, Capricorn will not be making any further comment in relation to it at this time.
The management and executive functions of Capricorn are well covered with Executive
Chairman Mark Clark continuing in his full time leadership role together with the broader
strengthening of the executive team announced on 18 December 2024.
This announcement has been authorised for release by the Capricorn Metals board
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To read the full news release please click HERE
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The live Spot gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Capricorn Metals
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