Thanks for your comments ... You are right, WSG was a shocker. And while the newly named & directed ICC tried to do something with their businesses, the tech boom was over by 2004, and the slow & painful death was inevitable!
Just to get your comments in perspective though, below is a timeline of the WSG - ICC - QNL until now:
2003 - R Johnson & S Ali join the ailing WSG as new directors 2004 - L Tyndall & M Owen as new directors ... but the writing is on the wall, as over the next few years the company fails to achieve any success. 2006 - A new direction is flagged as they seek to divest the Westel business 2007 - Two new directors join the board S Hooper & B Moore, and the change of focus is confirmed as S Hooper announces new resource direction & aquisitions 2008 - R Johnson & M Owen, two old WSG/ICC directors resign, and new director A Winduss appointed as new Chairman 2009 - New projects scouted, and S Hooper resigns and S Third appointed new director. Paddy Reid appointed as new CEO - previously geologist working for RIO TINTO, and Goldfields. 2009 also see total divestment of Westel. 2010 - New direcor D Gee, ex-MIM geologist. Also D Gaucci ex-BHO/RIO/Newcrest man joins as director, then subsequently resigns to take over UNX as MD. 2010 also sees QNL move into the exciting high-grade haematite Alken project in WA.
QNL Price at posting:
5.0¢ Sentiment: LT Buy Disclosure: Held
