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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA) -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (6061)	8/14/1998 6:38:00 PM
From: Ned Land	Read Replies (2) \| Respond to of 7966

Ashton anounces changes to its Board of Directors Ashton Mining Limited advise that Mr NR (Nobby) Clark, Chairman of the Ashton Board, has today tendered his resignation. The Company's Chief Executive and Managing Director, Mr R John Robinson, has also tendered his resignation. Both resignations take effect from today's date. The Company's Deputy Chairman, Mr Paul McClintock, has been appointed as Ashton's Chairman to succeed Mr Clark, and Mr WR (Bill) Bennett has accepted the Board's invitation to become a Director and Chairman of the Board's newly created Corporate Governance Committee. An international executive search for a successor to Mr Robinson has commenced. In the interim Mr Douglas Bailey, the Company's Finance Director, will act as Chief Operating Officer and will be responsible for all aspects of the Company's business. The full press release is available at the Ashton web site. I don't know about anyone else, but in my experience you rarely see the number one and two guys at any successful company depart so hastily unless something is afoul. I mean, why both at the same time? Also, why not resign after a replacement is found? There's something fishy going on; anyone got an Australian newspaper handy? I'm sure there would be some speculation there on the business pages.