Amigos, I think one of the long-standng problems that has been misunderstood by the Directors of GRL, is the importance that is placed on the Technical Manager by the Dept of Planning NSW. I don't know what it is like in WA, other states or overseas, but in NSW the Department requires that an Exporation Licence has a Techical Manager who runs the exploration - not a bug shareholder director nor a CEO nor a chair. For example, the Department's application form for an exploration licence states:
"The Technical Manager is responsible for supervising operations and geoscientific reporting". "The Technical Manager is required to have tertiary qualifications in geoscience, mining engineering or other relevant qualifications and have appropriate experience in exploration for the commodity sought."
IMO, this recent announcement may indicate that the management of GRL could be getting it - they recognised that the role of CEO is redundant in the NSW system - but time will tell. GRL needs a fearless Technical Manager who is paid to be responsible for supervising the exploration. The rest of management can run the finances, give advice, etc but the key person is the Technical Manager. The quicker that management understand it, the better for the company.
GRL Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
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