THE BOURSE WHISPERER: With AGM season well in play the regular game of musical chairs continues within the boardrooms across the resources industry.
Appointment of Directors
Alligator Energy (ASX: AGE) has appointed John Main and Peter McIntyre as directors to the Board.
The company entered into a strategic investment partnership with Macallum
Group on 18 September 2013, as part of a $1.8 million capital raising to drive its next phase of uranium exploration strategy in the Alligator Rivers Uranium Province in the Northern Territory.
The capital raising included a 1.5:10 rights offer to existing shareholders.
As part of the Investment Agreement with MGL, Alligator Energy agreed to a restructure of the Board.
This restructure included the appointment of Main and McIntyre to the Board on completion of the Rights Offer.
Retirement of Director and resignation of company Secretary
Pilbara Minerals (ASX: PLS) announced the retirement of company director Gavan Farley.
Farley has advised the company that he will be retiring as non-executive director at the company’s AGM and therefore will not stand for re-election.
Pilbara Minerals also advised of the resignation of company secretary Robert Waring, effective 31 October 2013.
Changes to Board of Directors
Grange Resources (ASX: GRR) announced that company chairman, Xi Zhiqiang has retired as a director effective 29 October 2013.
Xi joined the Grange Board as non-executive chairman in 2009 and has also been an active member of Board’s Audit, Remuneration and Health Safety and Environment Committees over the past few years.
Grange went on to announce Michelle Li has joined the company’s Board as non-executive chairman.
Li is a mineral processing engineer and metallurgist with over 19 years’ experience in the Australian mining sector.
Her experience includes senior roles at Citic Pacific, Rio Tinto and Iluka Resources, as well as a senior project role at the Grange Resources Southdown project.
She has a PhD from the University of Queensland and is also a non-executive director of Sherwin Iron Limited.
Grange said it has commenced a search for an additional independent non-executive director, and expects to announce such an appointment within the next few months.
Retirement as Director at AGM
Anatolia Energy (ASX: AEK) advised the market that Dr Peter Kausch, who was to retire by rotation at the company’s forthcoming annual general meeting, has indicated his intention not to seek re-election to the Board.
The company expresses its sincere appreciation to Dr Kausch for his contribution and counsel to the Board as well as for his professional technical advice in relation to advancing its uranium project in Turkey.
So as not to lose his knowledge and expertise in the uranium mining industry, the company indicated it intends to retain Dr Kausch on an ‘as needs basis’, exclusive consultancy arrangement following his retirement.
Dourado Resources (ASX: DUO) has appointed John J Chegwidden as a non-executive director.
Chegwidden is currently a director of 3D Resources and is also joint company secretary of Hazelwood Resources Ltd.
Chegwidden served as a director and company secretary (until 2009) of Aurox Resources until its acquisition by Atlas Iron in 2010.
He is an accountant with 20 years’ experience as a Chartered
Accountant in public practice, providing advice in management, accounting and taxation, and consulting to manufacturing, mining, primary production and earthmoving operations.
Chegwidden has a strong knowledge of the mining sector in Australia, particularly in the areas of exploration, materials processing, marketing and financial management in relation to junior mining companies.
Resignation of Director and Appointment of Chairman
Baru Resources (ASX: BAC) advised the market that Peter Avery has resigned as a director of the company.
The Board has appointed Danie Van Den Bergh as executive chairman.
The company said the Board restructure is part of its strategy to reduce operational cash costs and reallocate those assets directly into the exploration efforts assisting the team’s focus on the company’s Area 51 Namibian graphite project.
Van Den Bergh is the company’s executive technical director as well as chairman and will oversee the exploration program in Namibia from his base in Africa.
The exploration program is now underway.
Appointment of Director
Alara Resources (ASX: AUQ) announced the appointment of His Royal Highness Prince Abdullah bin Mosaad bin Abdulaziz Al Saud to the Board of Alara Resources as a non-executive director.
Alara said HRH Prince Abdullah’s appointment is the culmination of the company’s endeavours to appoint a commercially experienced and highly regarded Saudi
Arabian national to the Board in order to strengthen its presence in Saudi Arabia, where the company has recently completed a DFS on its Khnauguiyah zinc-copper project and is now in a position to secure project financing inclusive of an application to the Saudi Industrial Development Fund (SIDF).