10/01/2011 - 15:39

Lawrenson joins FerrAus

10/01/2011 - 15:39

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Pilbara-focused iron ore junior FerrAus has appointed former GRD chief executive Cliff Lawrenson as chief executive officer and managing director, subject to shareholder approval.

Pilbara-focused iron ore junior FerrAus has appointed former GRD chief executive Cliff Lawrenson as chief executive officer and managing director, subject to shareholder approval.

Mr Lawrenson agreed to a short-term consulting contract that commenced today, until shareholder approval is obtained.

FerrAus non-executive chairman John Nyvlt said the short-term consulting contract had been agreed to in view of the circumstances relating to the current takeover bid for FerrAus by Wah Nam International.

"We are very pleased to have secured the services of an experienced senior executive of Cliff's calibre at a pivotal point in the development of FerrAus Limited as a significant iron ore producer," Mr Nyvlt said.

"He is the ideal candidate to oversee the transition of this business as it moves from exploration to production and the Board considers that his extensive global commercial experience will be a tremendous asset.

"As FerrAus is currently facing a takeover bid from Wah Nam, Cliff will initially work in tandem with Bryan OIiver, our Executive Director, to oversee the delivery of the definitive feasibility study and familiarise himself with the details of the company and its major project.

"We anticipate that Bryan will remain on the Board as a Non Executive Director and Cliff will move into the role of Managing Director and CEO," Mr Nyvlt said.

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