No Substantial change in managementThese changes are not substantial. Lam is married to Yan and together they control GH and in turn ADEX, so it is not a meaningful change in leadership. Lam was previously the CEO. Lam's education is " a degree in English for Finance ", which is neither a business degree, nor a mining related degree. It is reasonable to wonder if the experince referenced - "Ms. Lam is an entrepreneur with over 15 years of experience in the mining and steel industry, as well as over 10 years of experience in the marine transportation industry." ammounts to sitting on the boards of the various companies she and her husband control. Their shipping company , https://www.greatharvestmg.com/en/report.php , reported losses > $21 million in it's most recent year, with losses of $41m in 2016 & $ $37 m in 2015. I estimate that at a price of .01/share, GH currently has about $ 5.5m in ADEX shares having invested what I have roughly calculated to be about $16m for a loss of over $ 10m on ADEX. ADEX continues to pay them substantial fees as directors and executives although there is little to show for their efforts.
The change of directors is inconsequential given that Lau was appointed by GH, as is the new director, Wong. They both represent the interests of GH = Lam & Yan
The change of CFO does not imply a change of mining management or strategy and may well suggest that Bolton wanted out.