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Titanium Resources (SRX)

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Thursday 30 September, 2010

Titanium Resources

Appointment of Non-Executive

RNS Number : 5546T
Titanium Resources Group Ltd
30 September 2010
 



Titanium Resources Group Ltd

Appointment of Non-Executive Directors

30 September 2010: The Board of Titanium Resources Group Ltd ("TRG" or "the Company") is pleased to announce that it yesterday appointed Jan Castro and Michael Barton as Non-Executive Directors of the Company with immediate effect.

Jan Castro

Mr. Castro is the Managing Director of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Limited, a US$ 1.0 billion investment company focused on the mining and natural resources sector. As a long-term partner, Pala leverages its extensive mining and natural resources sector experience to provide strategic advice and innovative financing solutions.

Prior to founding Pala in July 2006, Mr. Castro was Senior Vice President of Investments and Corporate Affairs for Mechel OAO, where his primary responsibilities covered mergers and acquisitions, non-core asset disposals and investor and public relations.  Mechel is a NYSE-listed company and one of Russia's largest integrated mining and steel companies, focused on coal, iron ore, nickel and steel products, Mr. Castro was responsible for Mechel's IPO in 2004.

Mr. Castro currently serves on the Boards of Anatolia Minerals Development Ltd, Avoca Resources Limited, Churchill Mining PLC and several private companies.

Mr. Castro received his J.D. and B.A. from Columbia University.

Michael Barton

Mr. Barton is a finance professional who has worked in the natural resources sector for the duration of his career.  He is currently Vice President at Pala Investments AG, the exclusive advisor to Pala Investments Holdings Limited, and prior to that was Vice President at Hatch Corporate Finance, a company specializing in providing corporate finance advisory services to the metals and mining industry.  Mr. Barton currently serves on the boards of Dumas Contracting Ltd., Norcast Wear Solutions Limited and New Birmingham Inc. 

Mr. Barton is a qualified chartered accountant and a member of the Securities and Investment Institute.

Wayne Malouf, Executive Chairman, said:

"On behalf of my fellow directors I am delighted to welcome Jan Castro and Mike Barton to the Board of TRG.  Their significant experience in the natural resources sector strengthens the Company, and we look forward to working with them to realize the full potential of TRG's world-class asset."

ENDS

For further information:

Titanium Resources Group

Wayne Malouf, Executive Chairman

John Sisay, Chief Executive

Tel: +44 (0) 20 7321 0000

 

Arbuthnot Securities

Nominated Advisor

Richard Johnson / Hugh Field

Tel: +44 (0) 20 7012 2000

 

Aura Financial

Michael Oke / Andy Mills

Tel: +44 (0) 20 7321 0000

 

Titanium Resources Group

Titanium Resources Group is a mining company with operations in the Republic of Sierra Leone. The Group is the country's largest private sector employer and produces rutile and ilmenite for use in industrial applications. The Group's operations have historically accounted for over 65 per cent of the exports of Sierra Leone.

Other Information

Jan Alex Castro (aged 42) holds no direct beneficial interest in TRG ordinary shares nor TRG options.  Mr Castro has also held the following directorships and partnerships:

Current directorships and partnerships

Anatolia Minerals Development Ltd

Avoca Resources Limited

Churchill Mining PLC

Dumas Contracting Ltd

Eagle Holding Limited

Gemcom Software International Inc

Norcast Wear Solutions Limited

 

Former directorships and partnerships within the past five years

Alacer AG

Coalcorp Mining Inc

Crowflight Minerals Inc.

Dioro Exploration

Melior AG

Norcast Castings Company Limited

630777 N.B. Inc

08332624 BC Inc

 

 

Michael Barton (aged 31) holds no direct beneficial interest in TRG ordinary shares nor TRG options.  He has also held the following directorships and partnerships:

Current directorships and partnerships

Dumas Contracting Ltd

Tercon Investments Limited

Norcast Wear Solutions Limited

New Birmingham Inc

08332624 BC Inc

2147886 Ontario Limited

 

Former directorships and partnerships within the past five years

Crowflight Minerals Inc.

Norcast Castings Company Limited

 

As announced on 15 September 2010, Pala Investments Holdings Limited holds approximately 29.8 per cent. of the Company's issued share capital.  Mr Castro and Mr Barton are the Managing Director and a Vice President respectively of Pala Investments AG, the exclusive investment adviser to Pala Investments Holdings Limited.  Mr Castro is also an investor in Pala Investments Holdings Limited. 

There are no additional disclosures to be made in relation to Messrs Castro and Barton pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

 

30 September 2010


This information is provided by RNS
The company news service from the London Stock Exchange
 
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