The chairman of Cape Lambert Iron Ore Ltd, industry veteran Ian Burston, will start working in an executive capacity for the iron ore explorer today, after taking on the role in June last year.
The chairman of Cape Lambert Iron Ore Ltd, industry veteran Ian Burston, will start working in an executive capacity for the iron ore explorer today, after taking on the role in June last year.
Mr Burston, who also serves as non-executive chair of the Broom Port Authority and Imdex Ltd, will take command of the Cape Lambert project and other mineral activities.
Company executive director Tony Sage will remain in his role, but will adapt his focus to the company's corporate projects, a spokesman for Cape Lambert told WA Business News.
The company also announced the appointment of lawyer Peter Landau to its board.
The full text of a company announcement is pasted below
Iron ore exploration and development company Cape Lambert Iron Ore Limited (ASX: CFE, AIM: CLIO) wishes to advise the market as to Board changes and the status of activities related to its namesake Cape Lambert Iron Ore project, located in the Pilbara region of Western Australia.
Appointment of Ian Burston as Executive Chairman
With effect from the date of this announcement, Mr Ian Burston will become Executive Chairman, assuming responsibility for the day to day management of the Company.
Ian is currently non-executive Chairman of Cape Lambert, and has more than 30 years experience in mining related positions as Managing Director, CEO, Vice President and Chairman for both prominent and junior companies. Ian is also non-executive Chairman of the Broome Port Authority and Imdex Ltd, and a non-executive Director of Mincor Resources NL.
Appointment of Mr Peter Landau to the Board
Mr Landau is a corporate lawyer and advisor who has previously worked with Grange Consulting Group, Clayton Utz and as advisor and general counsel at Co-operative Bulk Holdings. Peter is responsible for providing general corporate, capital raising, transaction
and strategic advice to numerous ASX listed and unlisted companies. Mr Landau has project managed a significant number of mining exploration and development transactions including capital raisings, M & A, joint ventures and financings. Mr Landau is a Director of a number of ASX listed companies with particular focus on mining, oil and gas exploration and development in Australia and Africa. Mr Landau is currently a non-executive director of View Resources Limited, and executive director of NKWE Platinum Limited and Range Resources Limited.
Mr Ding completes options acquisition
The Board is pleased to confirm the purchase by Mr Ding of 40 million 31 October 2010 options has been completed.
Details of this were announced to the market on 30 March 2007.
Resource calculation nearing completion
The Company in conjunction with Golder Associates, is nearing completion of the resource estimate for the Central Target Area. This resource estimate will be used to satisfy the condition pursuant to the sale agreement requiring delineation of a 300Mt Indicated Mineral Resource.
Mr Ding and the Company have appointed RSG Global as an Independent Geologist to audit and certify this resource estimate. Certification of the resource estimate is expected to be completed by the end of July as advised in the Company's quarterly report on 30 April 2007.
