Notice of GM; Name Change; Appointment of Director

RNS Number : 7539G

Ferrex PLC

24 November 2015

 

 Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining

24 November 2015

Ferrex plc ('Ferrex' or 'the Company')

Notice of General Meeting

Name Change to Keras Plc

Appointment of Director

Ferrex plc, the AIM quoted resource development company, announces that a General Meeting ('GM') will be held on Thursday 10 December 2015 at 11.00am at Craven House, West Street, Farnham, Surrey GU9 7EN.  The Notice of GM has been posted to shareholders and a copy can be found at the Company's website at www.ferrexplc.com. The main purpose of the meeting is to change the company's name to Keras Plc to better reflect the future of the company and to approve various share administration matters.

APPOINTMENT OF DIRECTOR

Further to the announcement of 17 November 2015 the Company is pleased to confirm that Peter Hepburn-Brown has today joined the board as a Non-Executive Director.

Peter Gordon Hepburn-Brown, 58, is a qualified mining engineer with over 35 years of international mining experience, having managed gold mines in Australia and internationally.  The following information is disclosed in accordance with Schedule 2, paragraph (g) of the AIM Rules for Companies. Mr Hepburn-Brown, is currently a director or partner of the following companies:

Eldoret Resources Pty Ltd

Mallee Mining Pty Ltd

Nakuru Resources Pty Ltd

Noranda Pty Ltd

PHB Consulting Pty Ltd

Chaffers Mining Pty Ltd

Focus Minerals Ltd

Within the past five years, Mr Hepburn-Brown was previously a director or partner of the following companies:

Alloy Resources Limited

Medusa Mining Limited

MRL Corporation Ltd

Mr Hepburn-Brown currently holds an aggregate 25,833,400 ordinary shares in Ferrex, representing 2.4 per cent. of the current issued ordinary share capital and voting rights of the Company.

**ENDS**

For further information visit www.ferrexplc.com or contact the following: 

Dave Reeves	Ferrex plc	[e-mail] [phone]
Nominated Adviser
William Vandyk/David Hignell	Northland Capital Partners Limited	[phone]
Broker
Elliot Hance/Jonathon Belliss	Beaufort Securities Limited	[phone]
Financial PR
Felicity Winkles/ Elisabeth Cowell	St Brides Partners Limited	[phone]

Notes

Ferrex plc is an AIM quoted, resource development company.  The Company is focussed on advancing lowest quartile, low capex deposits which benefit from proximal established infrastructure up the development curve and into production. Ferrex plans to commence production at its Australian Gold Project in Q2 2016 and then use this cashflow to develop the Nayega Manganese Project within nine months of securing the mining permit for the Project.  

At Nayega, Ferrex has concluded a Bankable Feasibility Study and expects award of the mining permit in 2015.  The Bankable Feasibility Study indicates that Nayega could produce 250,000 tonnes per year of manganese concentrate at 38%.   The company is focussed on bringing the mine into production on grant of the mining permit as soon as possible to generate cashflows for the Company.  

The Company also holds iron ore and manganese projects in Gabon and South Africa and is actively assessing ways to realise value from these assets.

Ferrex has 1,193,794,390 shares in issue. The Directors have subscribed for and purchased approximately 25.5% of the issued share capital of the Company and are thus aligned with shareholders' interests.

 

END

 

 

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