Appointment of Project Manager

RNS Number : 3891N

Tertiary Minerals PLC

01 September 2011

 



Tertiary Minerals Plc

("Tertiary" or "the Company")

 APPOINTMENT - PROJECT MANAGER

Tertiary Minerals plc, a diversified mineral explorer and developer building a significant strategic position in the fluorspar sector, is pleased to announce the appointment of Mr. Richard Clemmey as Project Manager with special responsibility for the Company's fluorspar projects in Scandinavia.

Mr. Clemmey is a Chartered Engineer with a degree in Mining Geology. Most recently Mr Clemmey was employed by a private quarrying company as General Manager for the development of a coastal limestone quarry in Oman and before that he was UK Operations Manager-Aggregates for Marshalls plc with overall commercial and operational responsibility for 8 quarries in the UK. Mr. Clemmey has also managed a large quarrying operation for Lafarge in the UK and was Operations Manager for a chromite mining project in the UAE.

As a part of his salary package Mr. Clemmey is being issued with 1,000,000 warrants. Each warrant entitles the holder to purchase one ordinary share in the Company. Half of the warrants are exercisable at a price of 6.75 pence per share and half at a price of 11 pence per share. One quarter of the warrants is exercisable at any time after each of 1, 2, 3 & 4 years employment with the Company. 

Commenting on today's news, Patrick Cheetham, Executive Chairman, said: "The Board is very pleased to welcome Richard into this pivotal role for the Company where we believe his strong commercial and operational background will help transition the Company from explorer to producer as we move forward with our exciting fluorspar projects in Sweden and Norway."

ENQUIRIES

Tertiary Minerals plc                                                                        Tel:  [phone]

Patrick Cheetham, Executive Chairman                                            www.tertiaryminerals.com

Seymour Pierce Limited                                                                  Tel: [phone]

Stewart Dickson (Corporate Finance)

Jeremy Stephenson (Corporate Broking)                                          

Yellow Jersey PR Limited                                                               Tel: [phone]

Dominic Barretto                                  

NOTES TO EDITORS

Background to the Company

Tertiary Minerals plc is an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries and Tertiary controls an estimated four million tonnes of fluorspar across its two Scandinavian projects (Storuman in Sweden and Lassedalen in Norway).

The Storuman Fluorspar Project is located in northern Sweden in an area with well-established infrastructure. It is located adjacent to the E12 highway, 25km from the regional town of Storuman, which connects the Project to the city and port of Umeå on the Gulf of Bothnia and to the port city of Mo-i-Rana in Norway.

A European Commission report recently named fluorspar as one of its 14 'critical mineral raw materials' for which a possible supply shortage would represent a substantial economic threat.

The Company also has interests in exploration and development of Gold, Iron, Tantalum, Niobium and Rare-earths in Finland and Saudi Arabia. Shares in the Company trade on AIM and also on PLUS Markets (ticker symbol 'TYM'). For further information: www.tertiaryminerals.com

 

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