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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Jesse who wrote (6072)8/15/1998 4:01:00 PM
From: Ned Land  Read Replies (2) of 7966
 
Jesse, I should've known you subscribe to the Sydney Morning Herald!

Mr McClintock's comments seem to rule out operational differences as a reason for the resignations.

I agree, at least in terms of the projects mentioned.

A possible explanation is that Malaysia Mining forced the resignations because of frustration over the company's share price performance.

In think that this is the only logical explanation put forth so far, but I still have problems with it.

First, there's no doubt that aggregate demand for diamonds is in a tailspin. Why wouldn't Malaysia Mining have sufficient pragmatism to see that this has nothing to do with the quality of its management?

Then, even if the scenario was true, why the hasty departure. Why not announce his "retirement" and say he'll stay on until a successor is named, like other companies do? The way the press release is worded, it sound like they gathered his stuff up and left it in the lobby!
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