Mr.Guru mchawe. Before you start calling boards incompetent it would be wise to do some rudimentary due diligence just to cover your ass,"I really wonder if it is a good thing anyway for an explorer to become a producer, when it has no experience in that arena. If a company decides on that, it becomes a sell as far as I am concerned because I do not have the patience to wait for results ! At present the company's fine assets are looking to go down the gurgler through management incompetence." On what basis are you making this claim:
Mr Donald Taig BCom, FAICD, FCPA Executive Chairman Don Taig is a Fellow of both the Australian Institute of Company Directors and the Australian Society of Certified Practicing Accountants. He spent 11 years with CRA Ltd in various parts of its mining business, and was a Director of Metals Exploration Ltd. He is currently a Director of Clover Corporation Ltd; a Director of Nu-Mega Ingredients Pty Limited; Managing Director of Balfours Australia Pty Ltd; and Chairman of Prudential Investment Company of Australia.
Mr Peter Williams MAusIMM Managing Director Peter Williams has extensive experience in mining and processing of ore in Australia and the Pacific, including having been Resident Manager at a number of mining operations including Peak Hill gold mine for North Limited, Bullabulling gold mine for Resolute Mining Ltd, and Jubilee gold mines for New Hampton Goldfields Ltd. He has also spent several years as General Manager Operations for Mineral Deposits Ltd at its Hawks Nest mineral sands mining and treatment operations. Mr Phil Lockyer FAusIMM
Non-Executive Director Phil Lockyer is a mining engineer and metallurgist with more than 40 years’ technical and management experience in nickel and gold operations, both open cut and underground. He has operated his own mining consultancy business since 1999.
His career includes 20 years with WMC Limited mining group in Kambalda in various roles including General Manager of Western Australian operations, plus a number of other senior positions including Business Development Manager for National Mine Management Pty Ltd, Director of Operations & Projections for Dominion Mining Ltd, and Director and General Manager of Operations for leading gold producer Resolute Ltd.
Mr Lockyer is a non-executive Director of nickel producer Jubilee Mines NL and of zinc producer Perilya Ltd, and non-executive Chairman of metallurgical and mineral testing consultancy Ammtec Limited.
He holds a number of key positions with industry bodies and professional affiliations, including Chairman of the Industry Advisory Committee for the Parker Centre for Integrated Hydrometallurgy Solutions, Director of the Minerals and Energy Research Institute of WA (MERIWA), Deputy Member of the Mining and Engineering Subcommittee of MERIWA, and Fellow of the Australian Institute of Company Directors.
Mr Chuck McCormick B.Sc.Adv, F.AusIMM, CPGEO Exploration Manager Chuck McCormick has greater than 30 years' experience in the mining industry in Australia, Canada, USA, the Middle East and Africa. Since 1979 he has lived and worked in Kalgoorlie during which time he discovered Paddington Gold Mine, and defined a number of other gold mines in the region, including Brilliant and Tindals mines near Coolgardie. He was founder and Managing Director of Electrum NL, and put together the properties on which New Hampton Goldfields was founded. He was a founding Director of Focus Minerals Ltd.
Mr K Jon Grygorcewick CA, B Bus Company Secretary Mr Grygorcewicz was admitted as an Associate member of the Institute of Chartered Accountants in Australia during 1983. He gained diverse commercial experience within the audit and corporate advisory services divisions of Arthur Young Australia. He has also gained extensive experience within the resources and engineering industries, having been associated with a number of listed companies in both the exploration and mining of gold, diamonds and oil. Mr Grygorcewicz has also worked with a number of engineering and resource service companies with operations in Australia and South East Asia, particularly listing an Australian engineering group on the Singapore Stock Exchange.
Mr Stephen Denn BAppSci, Grad. Dip. Mineral Economics, MAusIMM Manager Geology Mr Denn has over twenty years experience in mineral exploration and mining and has a BSc in Geology and a Diploma in Mineral Economics from Curtin University. He has worked in iron ore, petroleum, base metals, gold and nickel areas with several companies including Western Mining Corporation and Centaur Mining and Exploration. Mr Denn has held senior positions as Exploration Manager with Johnson's Well Mining and as Chief Geologist at the Cawse Nickel Operations. His achievements include being the Leader of the team for Centaur Mining and Exploration that discovered the Federal Gold Deposit and was responsible for the geological studies of the Cawse Nickel Project from project inception to commissioning and production. He has management experience in exploration, mine development and mine production. Stephen is a Member of the Australian Institute of Mining and Metallurgy.
That adds up to ~200 man years experience in metal production in a variety of metals most notably nickel and gold. In addition most of them have been through at least three metal super cycles of boom and bust. It is preciscely why the majority of the companies properties "those fine assts " was picked up between 1999 and 2002 the bottom of the gold cycle because they knew what was comming and the value in consolidating a whole greenstone belt that had very little previous rational exploration,in particular they knew the potential of the properties as one of the founding directors originally put Brilliant and Tindals into production in the mid 80's. Do you honestly think that they do not understand how the gold game is played. Why do you think they are taking their JV partners out now? Between when they announced the deal and now, gold has risen over 100US$. How's that for upside. So curb your patience or get out.
FML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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