China Nonferrous Gold Board Changes
September 01 2017 - 1:00AM
UK Regulatory
TIDMCNG
China Nonferrous Gold Limited
("CNG" or the "Company")
Board Changes
China Nonferrous Gold Limited ?????????? (AIM: CNG), the mineral
exploration and mining company currently mining the Pakrut gold
project in the Republic of Tajikistan, is pleased to announce the
appointment of Mr Yu Lixian ("Mr Yu") as Managing Director and the
appointment of Mr Hao Zhang ("Mr Zhang") as Finance Director with
immediate effect.
Mr Yu, aged 50, a senior engineer, is the General Manger of
China Nonferrous Metals Int'l Mining Co., Ltd. ("CNMIM"), the
Company's largest shareholder, having joined CNMIM on July 2017. He
graduated with a Bachelor's degree majoring in mining engineering
from Central South University (formerly known as College of
Changsha Nonferrous Metals) in the PRC in June 1990 and has a
postgraduate degree in law from CPC Hubei Provincial Party School
in the PRC.
Mr Yu has extensive management and industry experience. From May
2002 to August 2006, Mr Yu held various positions in Daye
Nonferrous Metals Co., a large-scale copper industry enterprise and
from August 2006 to July 2017 he served as deputy president of Daye
Nonferrous Metals Group Holdings Co., Ltd.
Mr Zhang, aged 40, a senior accountant, is the Chief Accountant
of CNMIM, having joined in December 2015. From September 1999 to
July 2003, he worked for the Anshan branch of Industrial and
Commercial Bank of China and in the credit ratings department. From
July 2005 to December 2015, he served as head of the funds
department of China Nonferrous Metal Mining Group Co., Ltd. Mr
Zhang holds a Master's degree majoring in business administration
from Renmin University of China.
The Company is also announces that Mr Li Li has stepped down
from the Board of the Company with immediate effect.
Wu Xiang, Non-Executive Chairman commented:
"We are delighted to welcome Mr Yu and Mr Zhang to the Board.
Both of them have extensive experience in their respective fields
and we look forward to working with them.
The Board of the Company would like to thank Mr Li for his
contribution to the development of the Company and its projects,
and wish him every success with his future endeavours. The Board is
now actively engaged in the process of selecting and appointing new
independent non-executive directors and we look forward to updating
the market in due course."
For further information please visit the Company's website
(www.cnfgold.com) or contact:
Investec Bank plc
Jeremy Ellis, George Price
Tel: +44 (0)20 7597 5970
Beaufort Securities Limited
Jon Belliss
Tel: +44 (0)20 7382 8300
Blytheweigh
Tim Blythe, Camilla Horsfall, Nick Elwes
Tel: +44 (0)20 7138 3224
The following information is required to be disclosed under
Schedule 2(g) of the AIM Rules for Companies in relation to Mr
Yu.
Current directorships Former directorships and/or partnerships
and/or partnerships (within the last five years)
Kryso Resources Limited Daye Nonferrous Metals Co., Ltd.
International Mining Supplies
& Services Limited
The following information is required to be disclosed under
Schedule 2(g) of the AIM Rules for Companies in relation to Mr
Zhang.
Current directorships Former directorships and/or partnerships
and/or partnerships (within the last five years)
International Mining Supplies
& Services Limited
There are no further disclosures to be made under Schedule 2(g)
of the AIM Rules for Companies.
Project Summary
The Pakrut gold project, of which CNG has 100 per cent
ownership, is situated in Tajikistan approximately 120km northeast
of the capital city Dushanbe. Pakrut is located within the Tien
Shan gold belt, which extends from Uzbekistan into Tajikistan,
Kyrgyzstan and Western China, and which hosts a number of
multi-million ounce gold deposits.
CNG is currently in a commissioning phase with mining
contractors on site finalising constructing of the mine, plant,
tailings dam and refinery.
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The
country is a member of the Commonwealth of Independent States and
the Shanghai Cooperation Organisation. Tajikistan hosts numerous
operating precious metal mines as well as the largest aluminium
smelter in Central Asia. CNG's management team has extensive
experience in the mining industry in Tajikistan.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170831006522/en/
This information is provided by Business Wire
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