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Gold/Mining/Energy : BLACK HAWK (TSE:BHK) -- Ignore unavailable to you. Want to Upgrade?

To: EZbeliever who wrote (350)	12/28/1999 3:56:00 PM
From: Stephen O	Read Replies (1) \| Respond to of 545

BLACK HAWK MINING INC. (TSE-BHK) announces today that effective immediately Mr. C. Thomas Ogryzlo has resigned as President and Chief Executive Officer. Mr. Ogryzlo has agreed to remain a director of Black Hawk. Mr. Garth A.C. MacRae, Vice-Chairman of Dundee Bancorp Inc. and a director of Black Hawk has agreed to act as interim President and Chief Executive Officer as the first step in a restructuring of the Company. The Board of Directors acknowledges and appreciates the contributions Tom has made to the operations of the Company during what has been a difficult period. For further information please contact: Mr. Gordon F. Bub Chairman Tel. (416) 363-4798 Ext. 264 Mr. Garth MacRae President and Chief Executive Officer Tel: (416) 365-5657 My 2 bits worth. The company was spending way too much on G and A expenses. No longer having to pay a President will save a large chunk of cash. The news release talks about further restructuring. I expect we will see something happen with the gold call options in the future and perhaps more support from the parent company. After all Garth Macrae of Dundee is now the CEO.