Appointment of Chairman, CEO & other Board Changes
For immediate release: 0700hrs 30 May 2012
Strategic Minerals Plc
("Strategic Minerals" or the "Company")
Appointment of Chairman and Chief Executive and other Board changes
Strategic Minerals Plc (AIM: SML; USOTC: SMCDY), the magnetite iron ore producer and exploration company, is delighted to announce the appointments of James Joseph Fyfe and Paul Louis Harrison as Executive Chairman and Chief Executive Officer respectively of the Company, with immediate effect.
James Fyfe (57) is a highly experienced business consultant in the natural resources sector who has advised public and private companies in Europe, Africa, Australia, Central America, Russia and the former Soviet Union. His particular focus is on strategic, operational and financial planning, corporate structuring and debt and equity financings.
Paul Harrison (50) began his career at the oil and resource specialist firm Wood Mackenzie & Co before progressing to become a director of County Natwest Woodmac and then subsequently Executive Vice President in the UK/European division of Salomon Brothers Inc. Since 1994 he has successfully advised a wide range of companies, both private and public, primarily in the natural resources sector. These have had a broad mineral and geographical spread and covered operations in multiple African countries, Central America, Australia, Russia and the FSU. Over the period he has raised a substantial amount of capital finance, primarily through a combination of private and public equity placements.
Strategic Minerals' current Chairman, Steven Sanders, will step down as Chairman of the Board with immediate effect but will remain a non-executive director of the Company. Meanwhile executive director, Matthew Bonthrone, and non-executive director, Alex Borrelli, have notified the Board that they do not wish to stand for re-election at the Company's forthcoming AGM in order to focus on their other business interests and will therefore stand down at that time.
Retiring Chairman, Steven Sanders, commented:
"We are delighted to be welcoming James and Paul onto the Board. They are a highly experienced pairing who have worked extensively together in recent years. We believe they have the appropriate skill-sets to ensure the continued fast-track development of the Company. On behalf of the Board I would like to thank Alex and Matthew for the significant contribution they have both made in bringing the Company to the AIM market last year and its development over the last 12 months. The Board wishes them well in their future endeavours."
Incoming Chairman, James Fyfe, said:
"Strategic Minerals is uniquely positioned to become a significant producer in the global magnetite market. Since its admission to the AIM market in June 2011, it has moved rapidly into revenue generation. We now look forward to developing Strategic Minerals' portfolio of revenue generating stockpile projects as well as progressing exploration activities in Australia."
Additional information on the newly appointed directors
James Fyfe is currently a director of:
Riverwide Capital Partners Ltd;
More House Trust Limited;
Tower Investment Corporation Limited;
Countdown Solutions Limited; and
Eden First Limited.
Paul Harrison is currently a director of Riverwide Capital Partners Limited and within the last five years was a director of BBK Consultancy PLC (resigned 03/05/11), SkyMark Management Services Ltd (resigned 22/01/08) and Logan Leisure & Entertainment Ltd, a subsidiary of Transmedia Europe, Inc. (see below) which went into compulsory liquidation in October 2007.
Paul Harrison has also been a director of a number of subsidiary companies of a US group, Transmedia Europe, Inc., which ceased trading in 2002. As a result, such subsidiaries, namely Countdown PLC, Transmedia Europe plc, Countdown Holdings Limited, IDC Card Limited and Index Management Limited, all went into creditors' voluntary liquidation at various times in 2003 except Index Management Limited which went into compulsory liquidation in April 1997.
For further information:
|
Company |
|
|
Strategic Minerals plc |
|
|
Paul Harrison (CEO) |
+44(0) 20 7930 6009 |
|
Nominated Adviser/Joint Broker |
|
|
Allenby Capital Limited |
|
|
Jeremy Porter / James Reeve |
+44 (0) 20 3328 5656 |
|
Joint Broker |
|
|
Daniel Stewart & Company Plc |
|
|
Bob Huxford / David Hart |
+44 (0) 20 7776 6550 |
|
Financial Public Relations |
|
|
GTH Communications Limited |
|
|
Toby Hall / Suzanne Johnson Walsh |
+44 (0) 20 3103 3903 |
|
|
|
About Strategic Minerals
Strategic Minerals PLC (AIM: SML) is developing a portfolio of projects that provide near term production and revenues along with those that offer significant potential in the longer term. Strategic Minerals currently holds iron ore stockpile assets in North America and exploration properties in Australia. The Company has commenced production at its first magnetite operation, the Cobre stockpile in New Mexico and is continuing to develop a number of other projects within the same segment.
www.strategicminerals.net
This information is provided by RNS
Latest directors dealings
- 2 hours ago Oxford Nanopore Technologies
- 2 hours ago AVI Global Trust
- 3 hours ago LSL Property Services
- 3 hours ago Bluebird Merchant Ventures (DI)
- 3 hours ago Power Probe PLC