start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

3/4/16

What Clive did

Want to know how much of an asshole Clive Johnson was at the BMO conference this week? Well here it comes, because after 1) receiving unsolicited e-mails and 2) checking with eyewitnesses, IKN is good about giving you this version of events. We're also going to keep the names of the innocent out of this, because the only person who deserves light shone upon them is the one that's running a U$1Bn market cap company. Up to you to decide whether that sort of responsibility is worthy of this sort of behaviour.

The whole shebang started earlier in the day when a woman present at the BMO conference (that's all you're getting on her) had the opportunity to ask Clive Johnson about the state of play at B2Gold (BTO.to) (BTG). Her questions weren't the normal soft-soap cookie cutter things that sellside anal ysts come out with, but were well-researched and not easy to answer. Apparently, The Clive got more than a little annoyed at this line of questioning and didn't like the experience at all.

Cut to the evening and with the talking and presentations done, it was time for the BMO cocktail reception and by the time the woman in question got to the gig in a group with her associates, Clive Johnson had been there for quite some time and was obviously drunk. As in obviously. On recognizing his interrogator of earlier that day he started to berate her, first among his small group but after a little while and as these things happen at informal gatherings, the two groups came into close proximity and then the fun really began. The Clive decided that his massive ego had been damaged and started verbally abusing his victim in front of everyone, loudly aggressively and drunkenly. The victim of this abuse was obviously upset by all this, but that didn't stop The Clive, who went on and on until, and it must be said very gallantly under the circumstances, Andrew Kaip stepped in and tried to calm things down by talking to The Clive. The reaction was all-too predictable as the drunk and boorish Johnson turned his bullying manner onto Kaip with use of such wonderful phrases as....
 "No one talks to me in that f__king way, I founded this f__king company, I'm a f__king CEO"
...and that is a direct quote from one of the unsolicited mails IKN received that was backed up by another, separate eyewitness. Fortunately Kaip is a gentleman and smart, so he didn't stoop to The Clive's level and remained calm and dignified. Those present have all said that Kaip's actions, rather brave under the circumstances and considering The Clive's previous violent history in these sorts of moments, saved things from getting a lot worse.

Bottom line: Ye shall know them by their fruits. Clive Johnson may have founded and built both Bema Gold and then B2Gold, but is Clive Johnson still capable of running B2Gold? We need to consider his present day as much as his track record and, considering the obvious decadence of its CEO, whether B2Gold's recent under-performance is a direct reflection of that. And whether he needs to be replaced before things get even worse.