Directors at Wiluna region gold consolidator Blackham Resources are trying to expel chairman Joseph Gutnick for not attending a board meeting in over eight...

John Robertson

PortfolioDirect

Directors at Wiluna region gold consolidator Blackham Resources are trying to expel chairman Joseph Gutnick for not attending a board meeting in over eight months and not delivering on his financial commitments. Gutnick wants to get rid of the other directors. Regulators require an enormous effort to have mineral resources defined accurately but have no test for boardroom idiocy to protect shareholders. The Blackham episode is also another example of how shareholders like Gutnick doing special deals and making promises of finance to get on boards are proving more disruptive than helpful. Blackham has been dropped from the PortfolioDirect model portfolios.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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