WME 11.5% 14.5¢ west australian metals ltd

meeting announcement out

  1. 1,011 Posts.
    Notice has been given for the propoed meeting of shareholders for Aug 4th, to consider a change of the board and, a Company name change.

    Whilst I understand the name change to West African Metals Ltd may give rise to where the main play is at the moment, It somewhat limits the avenue for further exploratory work being successfully identified, in other regions. I believe that a global mining company does not need the name to identify where one successful operation will be domiciled, but more importantly, where the home base is and, where its grass roots come from. After all, BHP only added a name to better reflect its global position without dropping "Broken Hill" from its identity. Call me parochial, but even if an abbreviated form was used, it would always relate back to where we as supporters of the original play, have our roots.

    I am not sure why the appointment of (local) directors could be seen as anything but good for the future of the company. To state that it gives the potential for "control" of the Board, as a reason for the current board rejecting the appointment of (on the face of it) very well credentialled professionals, would suggest to me that the current board members who would be retained, do not want to be as accountable on a day to day basis.

    After all, the criticism of posts over a long period of time, has been that the sp is not where we all believe it should be.

    Leon has done a sterling job with the geo work and perhaps this identifies why he needs support on the admin and marketing push for the future. All well and good to state that they can secure external legal and accounting help as required, I believe that "in house" teams work better in keeping the market informed than sub contracting the srevices as and when required, which, is not always available on the day you need it.

    Spreading the work load between people who are at close proximity to each other (geographically and time zone), beefs up the management of any company and I for one, who has been there for the long haul, can only see this being a good thing.

    I noted also in the call from the initiator of the meeting, that a proposed appointment of a new MD could come up for early consideration to again ease the workload on Leon and broaden the daily administartion duties.

    This is even highlighted by the late notice the current directors lodged yesterday, for the options (declared and approved) issued in 2006, requiring them to lodge a response to the ASX. Someone stuffed up there.

    This would allow him (Leon) to further develop the JORC upgrade (for instance) and the extensive drilling program, to ensure we do have a world class project that either goes into production or, more likely, gets a tap on the shoulder with an offer we could not, or should not, refuse!

    Now is the time for ALL shareholders to push for the change that will (IMO) benefit everyone.

 
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