🕐12.06.12 - 10:27 Uhr
FERREX PLC - CFO JAMES CARTER APPOINTED TO THE BOARD
Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining
12 June 2012
Ferrex plc (Ferrex or the Company)
Director Appointment
Ferrex plc, the AIM quoted iron ore and manganese development company focused in Africa, is pleased to announce that the Companys Chief Financial Officer, Mr.
James Carter has been appointed to the Board of Directors with immediate effect.
James John Carter (aged 42), is an Australian qualified Certified Practising Accountant and Chartered Company Secretary.
He has 18 years of commercial, financial and M&A experience in the resource industry having worked with gold, copper and coal companies both on site and in corporate roles internationally.
James was previously Chief Financial Officer of thermal coal producer Straits Asia Resources Limited, which was listed on the Singapore Securities Exchange, and ASX listed diversified miner Straits Resources Limited.
Additionally, he is a founder of Worldwide Mining Limited, a private company exploring for coal in Indonesia and a non-executive director of PTT Asia Pacific Mining Pty Limited.
Ferrex Managing Director Dave Reeves said, "Were delighted to welcome James to the Board of Ferrex during this highly active time as we progress our portfolio of iron ore and manganese projects in South Africa and Togo up the development curve and towards production.
He has been instrumental to the Company during the admission process in July 2011 and in our first year of trading on AIM, and I believe his extensive financial experience within the resource arena ideally places him to support our growth strategy of developing low-capex projects, which are close to infrastructure, whilst minimising costs and equity dilution, and securing future opportunistic acquisitions to successfully expand our asset base.
"Recent news, including a positive scoping study at our Malelane iron ore project and a maiden resource at our Nayega manganese Togo project, has demonstrated the commercial nature of this strategy and we are now ideally placed to add value to these projects through the implementation of a pre feasibility study and definitive feasibility study respectively.
With this in mind, I look forward to updating shareholders regularly over the coming months."
James currently holds, and has held (including all appointments during the five years preceding the date of this announcement), the following directorships and partnerships, other than of the Company:
Current Directorships/Partnerships
Past Directorships/Partnerships (in the last 5 years)
Moongate 218 (Pty) Limited
Umbono Mineral Holdings (Pty) Limited
Coke Resources Limited
Worldwide Mining Limited
Indo Coal Limited
Stillwater Resource Group Pty Limited
Hawthorn Capital Pty Limited
Hawthorn Capital Asia Pte Limited
European Metals Limited (BVI)
European Metals Plc
International Coal Holdings
PTT Asia Pacific Mining Pty Limited
Madagascar Consolidated Mining
Red Island Minerals Pty Limited
Straits Mining Pty Limited
Tritton Resources Pty Limited
Girilambone Copper Company Pty Limited
Goldminco Corporation
Templar Resources Pty Limited
Goldminco Resources Pty Limited
Straits Indo Gold Pty Limited
Muro Offshore Pty Limited
Indo Muro Pty Limited
Kalteng Emas Pte Limited
Kalteng Minerals Pte Limited
PT Indo Muro Kencana
Straits Minerals Investments Pty Limited
Straits Mine Management Pty Limited
Straits Global Trading Pte Limited
Rekya Wahana Digdajaya Pte.
Limited
Straits Asia Energy Pte Limited
Straits Energy Trading Pte Limited
Straits Marine & Infrastructure Pte Limited
Sebuku Investments Limited
PT Indo Straits
Venturex Plibara Pty Limited (formally known as Straits (Whim Creek) Pty Ltd)
Hillgrove Mines Pty Limited (formally known as Straits (Hillgrove) Gold Pty Ltd)
James Carter holds 1,666,667 ordinary shares in the Company, with voting rights, which represents 0.28% of the Companys issued share capital.
James also holds 12,000,000 unlisted options.
There is no further information to be disclosed under Schedule 2(g) of the AIM rules.
**ENDS**
For further information please visit www.ferrexplc.com or contact the following:
Dave Reeves
Ferrex plc
+ 61 (0) 420 372 740
Russell Lamming
Ferrex plc
+ 44 (0) 781 0870 587
Colin Aaronson/ David Hignell
Grant Thornton Corporate Finance
+44 (0) 20 7383 5100
John Prior / Sebastian Jones
Canaccord Genuity
+44 (0) 20 7523 8350
Felicity Edwards/ Elisabeth Cowell
St Brides Media and Finance Ltd
+44 (0) 20 7236 1177
Notes
Ferrex plc is an AIM quoted exploration and development company focused on advancing low capex iron ore and manganese projects in Africa through the development cycle and into production.
Our current property portfolio comprises iron ore (Malelane) and manganese (Leinster) projects in South Africa and a manganese project (Changara) in Mozambique, all of which offer the potential for significant near-term value uplift.
The Companys growth strategy is centred on advancing its current assets, utilising its Board and management teams considerable experience in developing resource projects across Africa and expanding its portfolio through acquisitions to build Ferrex into a mid-tier, low-cost producer of iron ore and manganese.
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