Ann: Company Secretary Resignation, page-21

FYI. Article from MiningNews.net

Echoes of the recent past with current board upheaval

Directors exiting suggest there could be background action underway at gold developer

MULTIPLE resignations at a company typically point to something being afoot or not quite right. Budding gold developer Echo Resources lost two key executive last month and a company secretary this week.

Of the three, the exit of company secretary Paul Savich this week would seem the least significant since it was a shared role.

However, it's notable Savich had been Echo's corporate general manager since the company's change of management in 2016.

The other two exits prompt more querying.

In mid-September, Echo said it had accepted the resignation of managing director Simon Coxhell, noting his "passion" for the company's Yandal project and "sincerely wishing him well with his future endeavours".

Coxhell was appointed as CEO of Echo in mid-2016 following his appointment as executive director in February 2016.

Two weeks prior to Coxhell's resignation, Gary Lethridge walked.

The outgoing finance director, who'd been appointed six months earlier, was also wished well with his future business endeavours.

Chairman Barry Bolitho has overseen the three exits and has now taken the reins as a "global search" for an appropriate managing director candidate is undertaken.

MNN was unable to reach Bolitho.

Aside from Bolitho, non-execs on the board comprise Anthony McIntosh, Mark Hanlon and Robin Dean.

Echo's major shareholder is big ASX gold miner Northern Star with just under 20% of the company.

The exits of the MD and finance director comes with the company in the midst of the financing process for the staged, A$40 million Yandal gold project development.

They also come with shares in the company now being about worth one-third of their value at the start of the year.

And back at a similar level to when the last board at Echo got turfed early in 2016.