It's quite difficult to guess the reason why Sokalsky joined PRB after he resigned his CEO position at Barrick which is many many times larger than a little known exploration company which has a total resource of less than what Barrick's production for 1 year. No intention whatsoever to put PRB down, but this came as a total surprise. OK, let's list a few facts before settling for a potential verdict.

- It's quite evident that Sokasky was pushed out, since his ally, Munk, stepped down and the new Chair, Thornton, with the title as executive Chairman, has scapped the old "Development Team" and set up something else to his liking. There was no need for a CEO in Thornton's scheme, and he has appointed two co-presidents (with no executive power) to run the day-to-day operation. If Sokasky was not pushed out a few months ago then perhaps he saw the writing on the wall.

- Sokasky has the title "Director an Non-executive Chairman at PRB". So Dave still has that executive power, unless he does not have majority support from the BoD. Sokasky is sitting in many many BoDs (39 boards?) so he will spend little time sitting at the head table at PRB. However, as a person with extensive connection he would be an extremely valuable person to have around: Opening doors for potential TO, or raising funds for building a mine at Borden Gold.

- Compensation: With a previous salary of ~$7M/yr, the 500,000 options at around current price is not a big deal for him. As an example, a $10/s TO offer would only get him ~$2M, which is a nice sum for most of us, but to him...?

- At 56 he wanted to slow down a bit, to spend more time with his family, or pleasure travel, not work travel? He came from Lakehead U, Thunder Bay. Perhaps, Borden Lake is closer to home (squeeze in some fishing there?).

- It's a guess that Dave went to him courting. There is also a possibility that Barrick wants to consolidate its holdings, with emphasis in North America/Canada. They are badly wounded by the experience in South America (Chile's environment requirement, and the class action lawsuit, etc). It would be convenient for Barrick to have an insider (Sokasky) at PRB, and vice versa. Deals are usually made over, coffee or dinner (e.g. Burger King/Tim Hortons). Yes, Sokasky knows influential people, and be prepared to pay for his dinners or lunches.

- My crystal ball appear to say the following about the incoming Chair

(a) to play match maker

(b) to raise money (he's a finance guy)

(b) to scare AEM a bit for it to make some kind of initial offer which would start a bidding war for PRB.

Wars are no good, but bidding war for PRB is just fine!

Enough tea-leaf reading before dinner.

goldhunter