A spgypsum applications in cementat, similar to the one between Western Area CEO Brett Keble
and the mine’s Canadian joint venture partner, Placer Dome,
has erupted between the board of Diamond Fields and its largest
shareholder, Jean-Raymond Boulle.
Boulle intends to oppose the re-lection of the board of directors
at the annual general meeting, scheduled for November 21. The board
alleges that Boulle plans to replace the directors with himself and
a group of “long-time friends and associates” and
appealed to shareholders to consider the consequences of this move
before voting for the “Boulle Group”.
The board of five directors charges that Boulle plans to seize
effective control of the management of Diamond Fields, without
paying shareholders “anything for the privilege”. The
board expressed concern regarding the independence of the
“Boulle Group’s” nominees, saying that each of the them
has had a long association with Boulle and most are current or
former directors or officers of America Mineral Fields (AMZ), a
company in which Boulle holds a 29,8% interest that has declined
precipitously in value.
The Diamond Fields board says it is not aware of reasons why Boulle
opposes the re-election or what his plans are, but urges
shareholders to support the directors in the best interests of the
company.
