Originally posted by That Fundamental Guy
The first couple of quotes are from the announcement.
"Mr Stewart (BJourn, LLB, HDip Co Law, HDip Tax Law, MAICD) has over 26 years of international legal and commercialexperience."
I have over 20 years experience looking after my garden, but that doesn't mean I'm a good gardener.
"including Non-executive Director roles and several years as Managing Director of two ASXlisted exploration companies".
I was curious as to why the company names are not mentioned. Did they not do any good?
Per Mark Stewart's Linkedin page, he has listed that he was Managing Director of Clancy Exploration Limited for three and a half years (2007 to 2010). From a quick look, this company traded at around 3 to 5 cents per share in 2007 to 2010 and is now trading at 0.2 cents per share. Did not see anything exciting other than captial raising (i.e., dilution).
On his LInkedin page, Mark Stewart does not list a second company that was ASX listed for which he was Managing Director.
He does mention that he was a VP at Geoinformatics Exploration Inc which listed on TSX-V, but couldn't find much about this company so not sure what happened to it.
On Arion Consulting Group's website (
http://arioncg.com/our-people/mark-stewart/) , it provides a profile of Mark Stewart. This states:
"Mark also has broad commercial experience in the junior mining and resources sector having worked for junior listed resource companies from 2003 to 2010, including several years as Managing Director of two Australian Stock Exchange (ASX) listed exploration companies, which he listed in 2005 and 2007.In addition, Mark has enjoyed extensive public company experience having been a director of several mining companies listed on the ASX."
There does not appear to be a second ASX company on Mark's Linkedin page that he was managing director of nor any other ASX companies that he was a director of. That is not to say that he wasn't these things, however he does not appear to be proud enough of them to put them on his linkedin page. This makes me wonder if they were not very successful.
I googled to try and find out a little more, but could not find anything that confirmed Mark Stewart was a former Managing Director of an ASX company. Something I found indicated that it could be Uranex NL. I went to
www.delisted.com.au and it did not list him as a former director - but that could be incomplete.
The annual report of Indo Mines for 2006 states:
"Mr Stewartwas a director of Goldstream Mining NL from 31 August 2004 to 28 February 2006 and a director of Uranex NL from the dateof its listing on 21 October 2005 to 28 February 2006"
Assuming this is correct, it means he was managing director of Uranex for 130 days and on the same day he ceased being a director of Uranex, also ceased being director of Goldstream (which I think had a major interest in Uranex). Director resignation notice from Goldstream say he left to pursue other business interests - from which you can read many different things.
During this period of 2004 to 2006, Mark Stewarts website says he was VP at Geoinformatics Exploration Inc. So its a little confusing where he spent his time and where he focus really was.
I'd welcome any further research (or corrections of above if appropriate) on our current Chairman. However, I haven't seen anything to indicate to me that he is of the calibre that we need as chairman.
'Stewart was a director of Goldstream Mining' [GDM]
Pre-HAV
The following may add to your research:
GDM forum, 9/12/07:
name change from Goldstream Mining to IMX Resources - Code IXR (Post #:
3093516)
IXR forum, '
Robbed again' thread leaves a bitter taste; starts from Post #:
18045946. Re-named Indiana Resources Limited (IDA); Mkt Cap: $5m
Per GDM 2005 Annual Report, Stewart was a director of AKD Limited (AKD) (appointed 8/9/03). AKD renamed Indo Mines Limited (IDO).
Clancy Exploration (CLY): ceased as director 31/12/10, Mkt cap $7m, listed.
Per CLY 2009 Annual Report, Stewart was a director of Indo Mines Limited (IDO) from 8/9/03 to 12/12/06; delisted 24/8/18.
HAV
How many mis-steps in the past year or so has HAV's new Chairman been involved with, either as a director, lawyer or
inexplicably both? A far from exhaustive list is at Post #:
36934520
Post-HAV?
EGM: polls close 10am Adelaide time, 2/2/19
As the directors recommend against the removal of Stewart, assume that Dr Giles will put his weight behind his mate.
Does Stewart's public record demonstrate he has earned shareholders' confidence, trust and respect?
If you want to limit Stewart's stay as Chairman to one month, you know what to do.
DYOR
(20min delay)