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Thursday, December 8, 2011

Jaguar falls on TSX after CEO's sudden departure

Brazilian gold miner Jaguar, which last month became the subject of takeover rumours, fell nearly 10% on Wednesday, after announcing the sudden departure of CEO Daniel Titcomb.

TSX-quoted Jaguar said last month it decided to “explore alternatives” to an unsolicited offer it received, and declined to comment as to why Titcomb was leaving so abruptly, though fund managers Mining Weekly Online spoke to suggested his exit might clear the way for a takeover.

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