I agreed with many posters here that the Allchurch did not fit into his role as CEO of the company. He has no skin in the game. The perception is that he failed miserablely when the first few holes did not come up to scratch at Newleyline . Instead of drilling more holes to find where the minerals are, he just froze in his role. Even in Australia he could not act on small things, what can be expected of him thousands of miles away.
In FFX, I learned that directors who had no skin in the game choose to walk instead of looking for the right solution. Subsequent directors who have shares in the company found a way out by electing Macquarie Bank as an adviser to find the right partner. Instead of occupying the seat of CEO, Allchurch should step aside for someone who is more capable and willing to commit. Look like Allchurch is good at locating good opportunities, perhaps that should be his role, instead of running the company.
MAN needs a national manager in Chile to look after that aspect of the company. Have they gathered their team yet? Allchurch needs to show he is serious in his role by acquiring some shares in the market. Until he does that, his personal interest is not in alignment with the shareholders.
