- new directors Thomas Picket, Bin Wang (Tay was always a 'temporary' director) - Xiao Dong Sun, Yankel Koncepolski, Malcolm Carson - gone! - Terence Gygar (who changed tact) - gone!
Biography of Thomas Pickett
Mr Pickett is a qualified Lawyer. He has been involved with Wayne McCrae's private mining group Kaldig Pty Ltd over the past 10 years on a consulting basis and as in-house counsel. He joined the board of CuDeco Ltd in 2002 as a director and was involved in all aspects of the company's operations including on site and compliance including guidance and management of litigation, implementation of policies and procedures surrounding mine planning. Thomas has remained as in-house counsel for CuDeco Ltd up until 2009. In addition to his previous and ongoing experience within the mining industry Mr Pickett's experience also included a role as Chief of Staff for MFS these duties included being a member of the management committee, disposition of non-core assets, management of special projects and liaison with some government agencies. His hands on work experience within the mining industry commenced in 1990 whilst working as a cadet metallurgist with ASX listed Diversified Mineral Resources N.L. in Cloncurry and hands on duties continued with Kaldig's mining operations including their underground and CIP production plant at Cloncurry. Mr Pickett is currently involved with own his private mining company in NW Queensland and is in the process of finalising purchases from a consortium of miners in NW Queensland and Northern NSW with the view of establishing a new mining house.
Biography of Bin Wang
Mr Wang is resident in China and holds a Master Degree of International Finance & Business Management. Mr. Wang had been involved at a Company Secretary level and successfully listed the Xinhuajing (stock code: 600735) in China since 2006. The case was rewarded as one of the top ten case studies of merging and acquisition by the China Securities Commission in 2007. He has been a board member of listed company Yanghuangwuliu (Stock code 000805) since 2009, Mr. Wang had provided assistance to avoid the delisting and manage the asset restructuring. Mr. Wang has also worked in Shanghai Nuohui Investment & Management as CEO and in a partner role in Shanghai Junsheng Investment Centre P/L and is a Board member of Jiangsu Cart New Energy P/L. Mr. Wang has a wealth of experiences from working in the finance, acquisition and derivative investment in China, as well as extensive ability of funding and resource integration, he has strong connection and association with various public companies and government authorities.
Karma is a b1tch, imho... Now for the new director's to start building the company and recouping the money back. This, plus the share sale, will bring the capital back to move forward...
Imho, this was easily the best possible outcome for all. (except for the one's that started this mess in the first place)... I may take a position v.soon.
E.
DMA Price at posting:
17.0¢ Sentiment: Buy Disclosure: Not Held
