IAN Middlemas, an accountant by training, is in high demand as a...

IAN Middlemas, an accountant by training, is in high demand as a director of resources companies. We counted 11 where he is either chairman or a director, including OmegaCorp, Salinas Energy, Echelon Resources and Indo Mines.

Now he has jumped on board Xenolith Gold and suddenly this obscure junior saw its shares double - true, only to 1.8c.

Xenolith has been around since the mid-1980s without attracting much attention, apart from in 2001 when its price went to 53c on the back of a California oil play, but the well blew out and it took four months to extinguish the fire. Back to obscurity and a low share price for Xenolith.

The company still retains an interest in an Alberta gas play, but won over Middlemas talking about its Monsi gold project in Indonesia's Northern Sulawesi province. He clearly liked the story as the largest participant in Xenolith's new $2.1 million placement is Middlemas' private company.

http://www.theaustralian.news.com.au/story/0,20867,21395616-18261,00.html