Business
Directorate Change
Directorate Change.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2895H Keras Resources PLC 12 March 2018 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n12 March 2018\nKeras Resources plc ('Keras')\nAppointment of Russell Lamming as Chief Executive Officer \n \nKeras Resources plc, the AIM listed mineral resource company, is pleased to announce that Russell Lamming, who is currently a non-executive director, has been appointed as its new CEO with immediate effect. Previous Executive Director, Dave Reeves, has become a non-executive Director to allow him to focus on his role as Managing Director of Calidus Resources Limited ('Calidus'), in which Keras has a substantial shareholding. \n \nIn addition to its stake in Calidus, the Company has significant manganese, cobalt and nickel exploration licences in Togo, West Africa. The Board believes that a dedicated CEO is now required to focus initially on the conversion of the exploration licence to a mining licence at its Nayega manganese project, which provides near-term production potential of 250,000 tonnes per annum of manganese concentrates. Russell will also seek to build a portfolio of resource assets that are value accretive for shareholders. Furthermore, the Board believes that the value of its assets is not being truly reflected in the Company's market price and that his appointment will be a step forward in addressing the discount to asset value, through more active engagement.\n \nRussell is a qualified geologist with an honours degree in geology from the University of the Witwatersrand and a Bachelor of Commerce in Economics from the University of Natal in South Africa. He has a wealth of experience in the resource arena, particularly in Africa. During his career he has worked with several AIM-listed resource companies including African Platinum Plc, Chromex Mining Plc and Goldplat Plc. He was intimately involved in the sale of African Platinum to Impala Platinum and, as CEO of Chromex, was instrumental in bringing the Stellite Chrome Mine into production in South Africa and selling the company to Synergy Africa Ltd. Russell is a founder of Keras and has been a director since flotation. \n \nIn terms of the Company's Share Appreciation Right Scheme to incentivise Directors and senior executives Mr Lamming has been awarded the f...