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Gold/Mining/Energy : DIADEM RESOURCES - DIR,M

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To: Bearcatbob who wrote (774)	11/26/1997 4:45:00 PM
From: tony lam	Read Replies (3) of 897

Well I had the opportunity to attend the annual meeting of Diadem resources. Lets just say that I am glad and sad that I attended the meeting. The meeting was full of excitement and lack of excitement. I will first discuss the lack of excitement. Peter Howe and his team of competent directors ( or should I say lack of !) were their usual selves -- boring!!!! All they were concerned with was keeping the status quo and did not care about their shareholders concerns. Director Robin Ross, from Midland Walwyn did not say a word and was hiding in his seat as if he was wishing he was not there. Director George Silverman (suprisingly!) did not say a word. But I know it was killing him in side that he was not able too. There was a gentleman who attended the meeting that got up and put a motion of lack of confidence of the Board. He is a broker at a brokerage firm in Toronto representing 2.3 Million shares. His shares were not considered valid because he did not register them in time. Others in the meeting complained about being in attendance and not able to vote. Soon enough there was a battle between the shareholders and Diadem's lawyers. The confrontation did not end up amounting to anything but the Board was definitely aware that their shaeholders were not happy. I believe if everyshare holder was to vote accordingly without various legal technicallity the Board would of been voted out. The question now is whether the present board will be able to turn this company around. The most important point made at the meeting by Peter Howe was that he would hire a new president but did not mention what his role would be when the new president is hired. Maybe he will become Charman and play a less active role.

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