HALIFAX, March 1 /CNW/ - Erdene Gold Inc. (TSX:ERD) today announced the appointment of Jeffrey Gerard to the board of directors. Mr. Gerard is General Manager of Business Strategy at Xstrata Coal and brings 25 years of experience in mining and related industries. "We are very pleased to have Jeff's expertise on our board, particularly with his strong background in the coal industry," said Peter Akerley, President and CEO of Erdene Gold Inc. "We expect that his operational experience and international relationships will add value to our portfolio of exploration properties in Mongolia and our proposed acquisition of near-production assets in North America." At Xstrata Coal, Mr. Gerard is responsible for business strategy and development support to the operating divisions, capital investment approvals and international mergers and acquisitions. Mr. Gerard and the acquisition team successfully assembled Xstrata Coal's portfolio of more than 30 coal mines during the past nine years, building the company to become one of the world's largest producers of export thermal coal. Xstrata Coal also recently invested $3 million for a 9.8 per cent equity interest in Erdene. Mr. Gerard began working in the coal industry in 1981, holding various positions in open cut and underground operations including exploration, mining engineering, environmental management, coal preparation, quality control, marketing, finance and consulting. Mr. Gerard is a qualified Industrial Chemist and a graduate of the Australian Institute of Company Directors. About Erdene Gold Inc. Erdene Gold Inc. is a diversified mineral exploration company focused on Mongolia with over 20 mineral exploration projects that include 68 licences and cover approximately 1.6 million hectares. Erdene's Mongolia projects are focused on high-growth commodities in base metals (molybdenum and copper), precious metals (gold and platinum) and energy (uranium and coal). The Company has strategic alliances with major international mining companies to develop its most promising properties. In addition, Erdene has offered to acquire all the outstanding shares of Kaoclay Resources Inc., a privately held Nova Scotia company with three advanced-stage energy and industrial mineral projects in North America, including a 20 per cent interest in the Donkin Coal Alliance. Erdene has a current cash position of approximately $7 million with 30,599,933 common shares issued and outstanding (before the issuance to Kaoclay Shareholders) and a fully diluted share position of 35,188,910 common shares. About Xstrata Coal Xstrata Coal is a wholly owned subsidiary of Xstrata Coal Pty Limited, one of the Xstrata plc group of companies. It is amongst the world's largest producers of export thermal coal and a significant producer of coking coal. Xstrata Coal has interests in a diverse portfolio of over 30 coal mines located in Australia and South Africa with a project in Canada, and employs around 10,000 people, including contractors. Xstrata plc is a major global diversified mining group, listed on the London and Swiss stock exchanges and is listed in the FTSE Top 50. The Group is headquartered in Zug, Switzerland and has approximately 24,000 employees world-wide, including contractors. Xstrata maintains a meaningful position in six major international commodity markets: copper, coking coal, thermal coal, ferrochrome, vanadium and zinc, with additional exposures to gold, lead and silver. The Group's operations and projects span five continents and eight countries: Australia, Canada, South Africa, Spain, Germany, Argentina, Peru and the UK. NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE.
Erdene Resource Development Corporation news
Investor announcements, newest first.