me resigns, page-17

Why post a LinkedIn reference that has not been updated since ME left Wood MacKenzie in 2010?

Although DRG has lost the services of its most knowledgable coal professional, there remain other knowledgable coal professionals on staff, if not on the board.

The Mongolian assets have all the hallmarks of being both excellent acquisitions and development prospects, but will take time, money, mining skills and market knowledge to bring online.

So much shareholder value has been lost already for one reason or another, the causes of which cannot be identified as clearly the fault of ME, that one is left with the choice of either selling out in a rush and crystalising a substantial loss, or holding on until a genuine coal professional is brought in to succeed ME, thereby enabling the company to realise gain derived either through asset development or sale of the asset to a third party.

The Mongolian assets have, even at this early stage, been proven to be worth substantially more than what DRG paid for them and ME deserves kudos for finding those assets and negotiating their favourable acquisition. However, finding a qualified new coal professional to take the MD role will take time, and that new person will need time in order to get familiar with the assets.

This is not an occasion for knee jerk reactions.