Ann: Beadell Announces Board and Management Changes, page-83

Hello Ivan,

Certainly Simon Jackson was approached to run BDR and has assembled at team of people he knows and trusts. The announcement said as much.

However, how do you convince a former President and COO of Kinross, the world's 7th largest goldminer, a man who had 15000 employees under him, to come onto the board of an aspiring but struggling mid cap gold miner? Brant Hinze is a a recently retired executive who could have stepped onto the board of any number of gold miners. I would suggest that the only way to persuade him would be to show that a very significant reserve could be proved up rather quickly such that BDR would be an attractive acquisition for a major. He's not at a stage in his career where he's going to work for incremental improvements to the governance of a small organisation for the medium term.

Cheers,
Tim.