Things that make you go Hmmmm.
My initial reaction was pure joy that we could be getting some new directors.
Then I started to look into this a little more. My thoughts are below:
1. Ken Williams had announced in June that he would be retiring at the AGM. Disappointed that someone would need to retire by being voted out. However, he announced he would retire in June to allow time for an orderly transition. There certainly doesn't seem like there is any activity with respect to a replacement (and hopefully Walter didn't think he was going to get another promotion and become Chairman as well). Therefore, there would be a risk that he doesn't retire so would need to get voted out. Given he was planning on leaving, would need to exit as he passion would not be there and could only get in the way.
2. Mark Stewart - never really felt he brought much to the table. Always wondered if he was Walter's mate (no basis, just wondered). His experience is supposed to be in negotiating and advising on joint ventures, mergers and acquisitions. However, he oversaw the sale of North Portia which allows CMC to change their mine plan, cause a delay in approvals which delays their payment. The payment should still have been due if caused by CMC.
3. Chris Giles - good to see that he is staying. He is good at understanding what's in the dirt. Has passion for finding more - just needs a better budget. He has realised his strengths and now understands that he does not have what it takes to turn a resource into a mine. But hopefully will hang around to find more resources. I'm sure he wants to be there when the drill and discover a Jupiter size deposit.
3. Peter Johnson - CV reads ok, but not someone that has taken a resource and turned it into a mine several times before. I assume that he is related to Dr Bob, so I assume would have some history and knowledge of Havilah.
4. Richard Buckely - Hmmm. Nothing against the guy but we are promoting from within again. Other than the third vote and someone that having worked at Maptek would work well with Peter Johnson, the only positive is that its not Walter!
5. I'm hoping that this is actual Phase 1 of a bigger picture plan. HAV wouldn't be able to attract and really credible and heavy weight directors that could make things happen with the current board and management. However, Peter Johnson, through Maptek, likely knows people that he could attract and once in, will hopefully add to the board and give it real strength and credibility.
6. I'm wondering what Clark888 knows and if he is supporting the motion. If so, that is all I need to know for it to get my vote.
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Things that make you go Hmmmm.My initial reaction was pure joy...
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