Niko Resources Ltd NKRSF

The New Niko

[Awarded]

As a shareholder of NKO, I would like to put a positive spin on the resignation of 3 BOD members within 2 weeks after their re-election. Why seek re-election if you are going to resign?

Let’s face it!  There must have been a confrontation and difference of opinion within the Board. Companies are forced to report material changes such as drill results, financial performance etc. But how do they report on differences within the Board?   Ambiguity reigns! This is not the case of just one Board member resigning. There are major differences.

What worries me is that Cummings has been on the Board since 2005, Gossen since 2014, and Kathol since 1996. The common element between them is their age 63-64. As well, all three are on the Corporate Governance Committee (Wendell Robinson, the other person on that committee did not stand for re-election). As well. Cummings, Gossen and Robinson were the only 3 members of the former Audit committee. Key committees! Now they are all gone.

Another concern is that Cummings was the legal expert on the Board.  Niko also announces that Mr. Tim Henry has resigned as Vice President, General Counsel and Corporate Secretary.  What other legal expertise remains?  
 
New members of the Board include 31 year old Vivek Raj and 33 year old Joshua Sigmon. I am sure they are bright, but what kind of experience do they have? Except for William Hornabay, COO, who was appointed in 2007, all the remaining directors have less than one year’s experience on the Board.

The new Niko has new blood!  It obviously has a new direction that is different from what the resigned Board members envisaged. What will it be?  I just hope that the new direction is moral and ethical.