Documented facts, observations, errors and my opinions . . . . .
IMO: The wording of this announcement is ambiguous at best, but nothing like fluffing up an announcement to suit the narrative
.
Mr. Callaghan is a Geologist and was
the founding director of Riversdale Mining Limited (formerly ASX: RIV) which sold to Rio Tinto for $3.9 billion.
Definition: A founding director is someone who was named Director of the organisation at is creation - in this instance, when the company changed its name from Wave Capital Limited to Riversdale Mining Limited.
- Was Callaghan
the founding director or
a founding director?
- Considering that he was one of 4 directors of Wave Capital, as per a historical ASIC extract and Company announcements.
- Callaghan was the shortest serving director at the time, Shervington, Rankine-Wilson and Rees appointment dates of July 2003 all preceded Callaghan's appointment date of
21st June 2004 when the name changed to Riversdale on the 30th July 2004
IMO, makes them all founding directors? and not just Callaghan
the founding director this announcement is portraying.
Callaghan
resigned from Riversdale11th August 2006, it wasn't until 27th November 2006, undeveloped Mozambique project was approved after due diligence and conditions precedent, furthermore it was
early 2011 that Rio Tinto launched a take-over bid for Riversdale which was finally achieved in
June 2011 with the Compulsory Acquisition of remaining shares.
Final Directors Interest notice:
https://www.asx.com.au/asxpdf/20060815/pdf/3xzngyz4q41g0.pdf-
IMO - more fluff and trying to understand the relevance that Riversdale Mining sold to RIO TintoFIVE years after Callaghan resigned!- Callaghan's term of office at Riversdale, it was the
21st June 2004 and not April 2004 as the commencement date!
Initial Director Interest notice:
https://www.asx.com.au/asxpdf/20040623/pdf/3ly13v55cv3bx.pdf- of interest, he resigned from Magnum Mining 4th May 2021, citing "
he is unable to find the required time to devote to this role", but a month later takes up a director role at PF1 ......
cheers
(20min delay)