Director Appointment

RNS Number : 1640F

Ferrex PLC

12 June 2012

 



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 Company's 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, "We're 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 represent 0.28% of the Company's 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	[phone]
John Prior / Sebastian Jones	Canaccord Genuity	[phone]
Felicity Edwards/ Elisabeth Cowell	St Brides Media and Finance Ltd	[phone]

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 the manganese (Leinster) projects in South Africa, and the manganese (Nayega) project in Togo all of which offer the potential for significant near-term value uplift.

The Company's growth strategy is centred on advancing its current assets, utilising its Board and management team's 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.

 

END

 

 

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