Cascadero Copper (CCD.V) announced that its Taron drill program was delayed by heavy rains and that the company’s CEO is going to step back from the day to day grind. In his place the company has promoted Judith Harder to the task in the interim. The board will probably ratify it on April 20th when it meets for this and other resolutions. The stock has backfilled on the uncertainty over drilling. The good news is that it will be able to drill now that the weather is more friendly. The drill program will take the company a long way in its preliminary economic study by allowing it to calculate a hard resource. They plan to drill 29 holes, and if all goes well the assays should be coming back by May/June, giving them the inputs they need for the PEA.
As far as management goes Judith and Bill have worked together a long time. They are married and Judith has her own background in the securities industry. So nothing really changes with this announcement except that Judith will be doing more of the day to day work of a CEO, as Bill McWilliam tends to his health. Bill will continue to manage the company from his post as executive chairman of the board. Not everyone is going to like this news but it is what it is. The path has been laid out and the CEO only needs to execute on it now.
They are still a small company operating on a shoestring budget. That may change in the future but as far as the current plan goes we are confident Judith will pick up the reins and execute the plan.