Appointment of Guy Le Bel to Advisory Board
China Africa Resources plc
("China Africa" or "the Company" or "CAF")
Appointment of Guy Le Bel to Advisory Board
China Africa Resources plc (LON:CAF) the AIM listed natural resource exploration and development company, is delighted to announce that Mr Guy Le Bel has joined our advisory board with immediate effect.
Guy Le Bel has more than 30 years of international experience in strategic and financial mine planning. Until recently, he served as Vice President Evaluations for Capstone Mining Corp. and is a Director of Golden Queen Mining and RedQuest Capital Corp. Previously, Mr. Le Bel was VP, Business Development at Quadra Mining Ltd., and prior to that held business advisory, strategy and planning, business valuation, and financial planning management roles at BHP Billiton Base Metals Ltd., Rio Algom Ltd. and Cambior Inc. Guy has extensive experience across precious and base metals industries in the Americas.
Guy holds an MBA Finance from École des Hautes Études Commerciales, a Master Applied Sciences, Mining Engineering - University of British Columbia and a B.Sc. Mining Engineering from Université Laval.
David Linsley, Chief Executive Officer, commented:
'I have known Guy for a number of years and am delighted that he has agreed to join our advisory board. Guy's knowledge will help us in delivering on a strategy of creating a diversified portfolio of investments in the junior mining space"
"Attracting someone of Guy's calibre to the company is a clear statement of intent. He is well known in our industry with an extensive network from which to help us build our business as well as a wealth of experience of evaluating and delivering value from mining projects. Guy's appointment is the first in what will be a number of key appointments in the coming weeks.
Guy Le Bel, said:
"This is a very exciting time for the Company. Industry sentiment is improving and there are numerous opportunities available in the jurisdictions and commodities that we are interested in. Utilising our in-house expertise I believe we have the potential to deliver significant value to the Company."
For further information on the Company, visit: http://www.chinaafricares.com/.
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China Africa Resources PLC David Linsley, Chief Executive Officer
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T: +44 (0)203 778 0655 |
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SPARK Advisory Partners - Nominated Adviser Sean Wyndham-Quin Neil Baldwin
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T: +44 (0) 2033 683 555
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SI Capital Limited - Joint Broker Nick Emerson Andy Thacker
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T: +44 (0) 1483 413 500 |
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Beaufort Securities Limited - Joint Broker |
T: +44 (0) 207 382 8300 |
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Blythe Weigh - Financial PR Tim Blythe, Camilla Horsfall, Nick Elwes
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T: +44 (0) 207 138 3204
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China Africa Resources Investing Policy:
Under the AIM Rules for Companies, CAF is required to complete an acquisition or acquisitions that constitutes a reverse takeover within six months of becoming an AIM Rule 15 Cash Shell or it will face suspension from trading on AIM. The Directors intend to apply the investing policy set out below in seeking an acquisition or acquisitions that will constitute a reverse takeover but there can be no certainty that they will be able to do this in the specified time frame.
The Board proposes to invest in and/or acquire companies and/or projects within the natural resource sector but with a particular interest in opportunities in the precious and base metals sectors.
The Board will not be limited to a specific geographic focus. In selecting investment opportunities, the Board will focus on businesses, assets and/or projects that are available at attractive valuations and hold opportunities to unlock embedded value or where, through efficient and focused work, there is the prospect of adding considerable value to each project, for the benefit of shareholders.
Where appropriate, the Board may seek to invest in businesses where it may influence the business at a board level, add their expertise to the management of the business, and utilise their industry relationships and access to finance.
The Company's interests in a proposed investment and/or acquisition may range from a minority position to full ownership and may comprise one investment or multiple investments. The proposed investments may be in quoted or unquoted companies; be made by direct acquisitions or farm-ins; and may be in companies, partnerships, earn-in joint ventures, debt or other loan structures, joint ventures or direct or indirect interests in assets or projects. The new Board may focus on investments where intrinsic value can be achieved from the restructuring of investments or merger of complementary businesses.
The Board expects that investments will typically be held for the medium to long term, although short term disposal of assets cannot be ruled out if there is an opportunity to generate an attractive return for Shareholders. The Board will place no minimum or maximum limit on the length of time that any investment may be held.
The Board will conduct initial due diligence appraisals of potential businesses or projects and, where they believe further investigation is warranted, intend to appoint appropriately qualified persons to assist.
The Board believes it has a broad range of contacts through which it is likely to identify various opportunities which may prove suitable. The Board believes its expertise will enable it to determine quickly which opportunities could be viable and so progress quickly to formal due diligence.
The Company will not have a separate investment manager. The Board proposes to carry out a comprehensive and thorough project review process in which all material aspects of a potential project or business will be subject to rigorous due diligence, as appropriate. Due to the nature of the sector in which the Company is focused the Company expects a focus on capital returns over the medium to long term. Should opportunities arise for an early cash return to investors, this will be considered by the Board.
It is emphasised that there is no certainty that the Company will be able to secure an acquisition or Reverse Takeover as set out above.
This information is provided by RNS
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