Brendan Wood International
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Brendan Wood International Announces TopGun Turnaround CEO Worldwide Precious Metals

April 24th, 2015 by TopGun Press

April 24th, 2015 (TopGun Press): Brendan Wood International (BWI) today announced that Anthony Makuch CEO, Lake Shore Gold, achieved the TopGun Turnaround CEO designation. According to BWI this unique recognition is due to Lake Shore Gold’s value appreciation of approximately 187% achieved over the last 18 months, as well as the simultaneous improvement of Lake Shore Gold’s position on The Brendan Wood Shareholder Confidence Index. Lake Shore’s BWI Index improvements in shareholder confidence across a spectrum of management skills and accomplishments underpin sustainability. The TopGun Turnaround CEO designation is achieved by a CEO who has combined a compelling upward valuation of his / her company with similarly marked improvements on the BWI Shareholder Confidence Index, the latter representing a shareholder view of stable repositioning as opposed to a price improvement event alone.

“It is an extraordinary feat to raise a company from its lowest ebb and simultaneously lead investors to a change of mind about that company’s future. Tony Makuch did that and more for Lake Shore Gold last year” said Brendan Wood, Chairman BWI.

Asked about how often it happens, Mr. Wood explained, “It is very rare and the reasons for that infrequency are easy to understand, especially in Tony Makuch’s case. A year and a half ago shareholder confidence ratings on Lake Shore Gold were deeply disheartening. Tony did not have any investor fans, quite the reverse. He somehow set pessimism aside and went to work to create extraordinary cost efficiency at the mine sites. To say Tony’s boots were on the ground is an understatement”.

Shareholder Confidence ratings for Mr. Makuch improved by approximately 40% over the last 18 months while confidence in Corporate Strategy and execution increased by 30%. Both metrics are now in-line with the sector averages whereas two years ago these particular ratings were over 20% below the industry. In first quarter 2015 Lake Shore shareholders expressed increasing confidence in the CEO for the year ahead.

Particular achievements celebrated by Lake Shore Gold investors include:

  • Demonstrated operational efficiency
  • Potential extension of reserve life through exploration
  • A focus on growth
  • Debt reduction
  • Cash flow generation
  • Consistently meeting targets and expectations

Shareholder ratings identified four potential candidates for the TopGun Turnaround CEO designation 2014/2015, however, in comparison; Lake Shore Gold’s Anthony Makuch quickly rose to the top of this group.


Anthony Makuch, Lake Shore Gold Corp.

Brad Gordon, Acacia Mining PLC
George Ogilvie, Kirkland Lake Gold Inc.
Scott Caldwell, Guyana Goldfields Inc.

About Brendan Wood International:

Brendan Wood International (BWI) is a global performance advisor rating the investor confidence of 1200+ prominent issuer corporations. Committed to independence, transparency, and an even playing field, BWI finances all of its initiatives and provides objective intelligence and advice to issuers and investors alike.


Raphael Moscarello
Managing Director

Jordan Novak
Managing Director

Brendan Wood

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