MX Gold (MXL.V) has announced it has hired Hugh McPherson as its president and Chief Operating Officer as MX is pushing forward with its development plans. Even though MX Gold is a small company, it was able to attract someone of the calibre of McPherson who used to be the mine manager of Goldcorp’s (G.TO, GG) Penasquito mine in Mexico, where 1,400 employees were working under him and reporting to his office.
It’s remarkable McPherson was so keen to join a small outfit like MX Gold, and we believe this tells you a lot about the potential of the Willa/Max project in British Columbia. The new COO definitely isn’t joining MXL for the money as his base salary is C$15,000/month which is actually very reasonable for a C-level executive, so McPherson will have to make his money on the 1 million stock options priced at C$0.25, making his interests aligned with the interests of the shareholders of MXL.
Go to MX Gold’s website
The author has a long position in MX Gold. Please read the disclaimer
