Lemur Resources Limited - Board Changes

RNS Number : 3172S

Bushveld Minerals Limited

06 November 2013

 



06 November 2013

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Lemur Resources Limited - Board Changes

Bushveld Minerals Limited (AIM: BMN), a diversified mineral development company with projects in Africa, advises of the following changes to the Board of Directors of its 54.36% owned subsidiary Lemur Resources ("Lemur"). The Board changes were announced to the ASX today (See Lemur Announcement below, which can be found at: http://www.rns-pdf.londonstockexchange.com/rns/3172S_-2013-11-6.pdf)

·      Appointment of Anthony Viljoen as Chief Executive Officer of Lemur; Appointment of Jonathan Murray as a Non-Executive Director of Lemur; and

·      Resignation of Marcelo Cardaci from the Board of Lemur;

Anthony, a current Director of Bushveld Minerals Limited assumes the role of Chief Executive Officer of Lemur with immediate effect.

Jonathan has more than 15 years' experience as a corporate lawyer. He is currently a partner of Steinepreis Paganin, an independent Perth based corporate law firm. His principal practice areas include equity capital markets, takeovers, governance and corporate strategy.

The management of Bushveld thanks Marcelo Cardaci for his service to Lemur.

As previously announced, Bushveld is in the process of conducting a comprehensive strategic review of Lemur and will provide an update to the market in coming weeks.

Fortune Mojapelo, CEO of Bushveld Minerals, said: "With the Lemur acquisition finally concluded, we look forward to promptly completing our strategic review of Lemur and presenting, in the coming weeks, a new path for the growth of Lemur and the Bushveld Minerals Group as a whole, starting with the above described management and board changes. This path will be designed to realise the value of the Imaloto project, to deploy the cash capital resources towards value-accretive opportunities that leverage the Group's competences and to maximise operational synergies within the Bushveld Minerals group of companies. We welcome Jonathan Murray to the Board of Lemur and look forward to leveraging his significant experience and expertise in the mining sector."

Contact

For further information on Bushveld please visit http://www.bushveldminerals.com or contact:

Enquiries: [e-mail]

Bushveld Minerals Limited:        Fortune Mojapelo        [phone]

RFC Ambrian Limited:                Oliver Morse                [phone]

Fox Davies Capital Limited:       Jonathan Evans           [phone]

For media queries please contact:

Tavistock Communications:       Jos Simson/ Nuala Gallagher [phone]

Tielle Communications:               Stéphanie Leclercq [phone]

Notes to the editor

Bushveld Minerals Limited is a mineral development company with a portfolio of iron, tin and coal assets in Southern Africa. The Company owns the Bushveld Iron Ore Project and Mokopane Tin Project, both located on the northern limb of the Bushveld Complex, South Africa. In addition, Bushveld has a controlling 54.39% interest in ASX Lemur Resources that owns the Imaloto coal project in Madagascar.

Bushveld was admitted to the AIM Market of the London Stock Exchange in March 2012.

 

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