best wishes to mcsweeney
18months ago I spoke to mcsweeny on the phone and remember his words "it's not a matter if there's 400mt here but rather if there's 800mt"... Actually feel sad he's moving on but thats business for you.... So all the best to him!
here the miningnews article:
McSweeney, Gindalbie part company
Paul Garvey Tuesday, 7 November 2006
DAVID McSweeney has agreed to part company with the board of Gindalbie Metals, bringing to an end his 13-year relationship with the gold junior-turned-iron ore hopeful.
Gindalbie Metals' David McSweeney
George Jones
Gindalbie executive chairman George Jones this morning announced McSweeney had, by mutual agreement, decided to stand down from his managing director's post, with the role to be filled by former Henry Walker Eltin executive general manager Garret Dixon.
Jones described McSweeney's departure from the company as "amicable".
"He [McSweeney] has been selling down his shares, his primary objective is to secure his family's future, and he's made a lot of money over the last year," Jones told MiningNews.net.
"He's done a good job setting the company up for the future, but he's decided he's had enough and wanted a go at something else, and that's provided the opportunity for the board to appoint someone who really knows how to get a mining opportunity up and running."
In mid-October, McSweeney sold off almost all of his shareholding in Gindalbie in a $2 million transaction designed to fund the purchase of a new family home.
Jones said there had been an understanding between him and McSweeney over the latter's future with the company ever since the former was first approached to join Gindalbie's board in 2005.
He added that while McSweeney had not been involved in the recruitment of Dixon, he was advised of the progress and was impressed by the calibre of the new managing director.
Dixon will formally step into his new role when McSweeney officially steps down in mid-December.
McSweeney said there were "no hard feelings" over his departure from the company.
"I'm not bitter and twisted, everyone's got to move on at some stage," he told MiningNews.net this afternoon.
"I've had a lot of support from the staff of the company over the last 13 years, it's really to their credit and their support of the last 13 years that I've been able to do what I've been able to do."
McSweeney said he was proud of what he had achieved with Gindalbie.
"The company has emerged into a new era, we're on our way to becoming a billion-dollar company. I've nursed it through to this stage, and I'm in a position where I can wish the company all the best with the project under someone with the right expertise."
Dixon, who will take McSweeney's place on the board, comes to Gindalbie after a brief stint as managing director of integrated road transport company Mitchell Corp Australia.
Prior to working with Mitchell Corp, Dixon spent 18 years with HWE, the final two of which were spent as executive general manager of the group's mining division. HWE Mining was one of the group's most profitable divisions, and continued operating throughout HWE's period in administration up until its sale to Leighton Contractors earlier this year.
During his time at HWE, Dixon was closely involved in the initial construction and later expansion of BHP Billiton's Yandi iron ore mine.
Meanwhile, McSweeney has hinted he will not stay out of the resources game for too long.
"I'm too young to be retired. I'm in the prime of my life," he said.
"I'm passionate about what we have to offer here in WA. We made discoveries, and there will be more. There are going to be more projects developed and discoveries made in WA. I haven't put a box around anything, but I know what I enjoy, and that's doing things here in WA."
Gindalbie is looking to develop the 10 million tonne per annum Karara iron ore project in WA, and its shares closed up 0.5c at 47.5c today.
Click here to read the rest of today's news stories.
GBG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
