Wesdome Gold Has A New CEO

It looks like there is something in the theory of a possible takeover of Wesdome Gold Mines by Kirkland Lake. Yesterday Rolly Uloth, Wesdome's CEO, was replaced by Duncan Middlemiss.

Mr. Middlemiss is a former CEO of St. Andrew Goldfields, a company acquired by Kirkland Lake early this year.

It seems that Kirkland Lake and particularly Eric Sprott, a notable Canadian investor and the director of Kirkland, are standing behind this nomination - now they have their man in Wesdome's management team, which makes the acquisition much easier.

The chart below shows the last price action of Wesdome shares:

source: www.stockcharts.com