Bauxite shares gain on ex-Sundance appointment

Shares in Bauxite Resources jumped on the ASX today after the Perth-based miner announced the appointment of former Sundance Resources executive Peter Canterbury as chief executive.

Bauxite Resources chairman Barry Carbon said Mr Canterbury was the ideal choice to lead the company  through its next stage of development – commercialising its exploration tenements and developing two joint venture projects.

“Mr Canterbury has finance, commercial and marketing expertise in the alumina and bauxite industry, in addition to the well-recognised work he did with Sundance Resources,” Mr Carbon said in a statement.

“Mr Canterbury’s leadership was demonstrated with Sundance both for his role in rebuilding that company and also with negotiating a benchmark Mining Convention in Cameroon.”

At close of trade today, Bauxite Resources shares were up 12.5 per cent, finishing at 13.5 cents.