NL,
"
Should he resign if he no longer considers himself to fit the role of "Independent Director"?
"
Simple answer..."NO".
It doesn't matter whether ME "considers himself fit for the role" (or not) because there are ASX rules that define the suitability of an Independent Director and he is comfortably within those well defined parameters. Perhaps in future you could aviod embarrassing yourself on a public forum by spending some time researching the actual numbers relating to the rules (instead of quoting some vague opinion fron India!).
I have to say that your efforts to besmirch WKT have become more and more bizarre lately. In 99.9% of cases where a Director has considerable skin in the game and contiues to increase their holdings (and his family's - within the regulatory guidelines, of course) is seen as a huge positive indicator of confidence in a company. How you hope to portray this as a negative is beyond me. Assuming that you have now done some proper research and are aware that no rules have been breached, can you please explain how this is a negative??
Natos,
Thanks for the thoughtful, informative post. In particular, this part interested me: "I
t is quite rare these days for the directors of junior exploration companies to become shareholders of their respective companies buy buying on market and participating in various placements.
" You are quite correct and it reminds me of the last company I was involved in where this occurred. A few years ago another "mining specialist expert" got involved with a company I had invested in. The SP was languishing at around 5 Cents but there was an important human element (large shareholder but not a diector) in the mix who had invested heavily in that company. That "expert" was Mark Creasey and the company was Sirius Resources. Creasey's involvement gave me confidence in what was happening on the ground, despite negative posts at that time here on HC. After the discovery of Nova, Sirius went from 5 cents to $5 in no time at all. I see similar parallels between Sirius and Walkabout ...and the expertise of Mike Elliot and Mark Creasey. In my opinion the ducks are lining up for a repeat success story. GLTAH
(20min delay)