THE cloister-type existence of the ordinary shareholder, who has to depend on divine inspiration rather than raw data for investment insights, manifested itself again this week in the Arcon affair.

The board of ARCON International Resources Plc has appointed Peter Kidney as chief executive designate to replace Kevin Ross, who is stepping down as CEO in August to take up a similar position overseas. He will remain on the ARCON board as a non-executive director.

ARCON’S streak of loss making results continues with the zinc mining company reporting pre-tax losses of €14.65 million for 2002 bringing accumulated losses to €94.5m.

Arcon International Resources PLC announced the third set of outstanding results from the exploration drilling programme within the mining area of its Galmoy zinc mine in Ireland.