Taken from ADVFN SAGEM - 2 Apr'05 - 07:48 - 2131 of 2134This...

Taken from ADVFN

SAGEM - 2 Apr'05 - 07:48 - 2131 of 2134


This Director has interests in another company called QUANDRANT his son is also involved....I dont know anything about this company but it is obvious that this is the only reason why he has resigned to further his interests.Or perhaps Reefton decided it for him. Does anybody know anything about this company QUANDRANT.(this information came from a post on www.iii bulletin board part of it below

Don't forget Mr Nikolaenko was a bit of a financial drain on Reefton his other company Quandrant Management charged fees to Reefton and also his son was on the pay role...Mr Vladimir Nikolaenko has his fingers in a few pies, so management differences and direction may have forced him to reconsider his position and decide to move on to his other companies interests...he'll do well on any sp rise anyway as he holds a few shares...



Reefton Mining N.L.
01 April 2005




1 April 2005



Reefton Mining NL ("Reefton" or "The Company")

RESIGNATION OF DIRECTOR


The Board wishes to advise that Mr Vladimir Nikolaenko has tendered his
resignation as Director and Managing Director of the company due to other
business commitments. The Board wishes to express its thanks and gratitude to Mr
Nikolaenko for his many years of loyal service to the company.




Mr R. J. Barras,
Company Secretary