Davis to part ways with EMA

WA uranium hopeful Energy and Minerals Australia has suddenly psmall scale rock quarrying machineryarted company with its long-serving managing director, Chris Davis, in the middle of a Warden's Court battle over ownership of its Mulga Rock project. In a brief statement to the stock exchange this morning, EMA said Mr Davis "is to leave the company today".

No reason for Mr Davis' sudden departure was given, with EMA only saying it would begin a search for a new managing director. "The company is now in a period of transition from a resource valuation to development," EMA said in a statement. "We look forward to the appointment of a new managing director to drive the company towards its goal of uranium production. "Importantly, the company retains significant corporate, technical and financial capacity with executive director Mike Fewster, chief financial officer Shane McBride, general manager geology Xavier Moreau, and a team of highly-skilled employees and consultants." Mr Fewster is also EMA's dominant shareholder with a stake of about 74 per cent...