jorc upgrade, page-10

Cant be trusted ,i do agree we need a few new faces on board but not what VLADIMIR NIKOLAENKO has to offer . I am also unhappy with the current shareprice but i tend to believe VN has been putting a lid on it .You have alot off valid points Outrigger but if one the directors is voting against VNs proposal after working with him in different companys so will i, may have happened few years back but everything is just repeating itself
Former Reefton Mining managing director, Vladimir Nikolaenko, sold a third of his shares in the company the day before he resigned. Nikolaenko sold 3.3 million shares at an average price of $A0.114 in late March 2005, a week after the Western Australian uranium and diamond explorer's shares traded to a five-year peak of $A0.175 when it announced a uranium discovery in Namibia. Nikolaenko resigned the following day, citing other business commitments, and the next week Reefton shares declined to $A0.076, Nikolaenko sold a third of his stock just days before problems over Namibian mineral licences surfaced.(Vladimir Nikolaenko sells shareMining)(Brief Article)he group revealed ... Reefton
------------------------------------------ Johnston, chairman of West Australian Metals, has found himself torn between two lovers (in a business sense, at least).
Perth-based investor Vladimir Nikolaenko is a major shareholder of the mining tiddler and has decided that its boardroom could do with a bit of a sweep-out.
Having called a meeting, Nikolaenko is urging his fellow shareholders to vote to remove non-executive director Terence Shanahan from the board, and has recommended a few of his own chums to replace him.
It turns out that Johnston and Nikolaenko go way back. Johnston was appointed a director of Rusina Mining in 2000, while Nikolaenko's company Quadrant Management Services was running things.
In 2006, a British-based investor was successful in getting Johnston voted off the Rusina board, after raising doubts about his independence as a director given his extensive business dealings with Nikolaenko.
The pair have also crossed paths at Genesis Biomedical, Niagara Mining and IC2 Global, a company chaired by Johnston that counts Nikolaenko as a substantial investor.
So you'd think that Johnston would be all for Nikolaenko's plan. Er, not quite.
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