Ferrum Crescent Ltd Directorate Change (6786B)

TIDMFCR

RNS Number : 6786B

Ferrum Crescent Ltd

12 January 2018

12th January 2018

Ferrum Crescent Limited

("FCR", the "Company" or the "Group")(ASX, AIM, JSE: FCR)

Directorate Changes - Appointment of Chairman

FCR, the European lead-zinc explorer, is pleased to announce that Mr Colin Bird has been appointed to the Board of the Company, as a Non-Executive Director and Chairman, with immediate effect. Mr Grant Button, interim Non-Executive Chairman, will resume his former role as Non-Executive Director.

The appointment of Mr Bird continues the process of strengthening the FCR Board as the Company progresses its wholly owned Toral lead-zinc and associated metals project in the Province of Léon, Spain. As Non-Executive Chairman and a supportive shareholder of FCR,

Mr Bird brings a wealth of experience of successfully developing natural resource companies through value realisation from both transactions and production. The Board welcomes his valuable input and guidance as it seeks to cost effectively advance its European asset portfolio.

The Company remains on schedule to publish a maiden independent JORC (2012) resource estimate for Toral by the end of January 2018.

Mr Bird is a chartered mining engineer with extensive multi-commodity mine management experience in Africa, Europe, Latin America and the Middle East. Mr Bird's operational and corporate experience, includes the development of the Jubilee Metals Group production portfolio, concentrating on Platinum Group Metals in South Africa, in addition to the successful sale of Kiwara plc. Kiwara plc was sold to First Quantum Minerals (TSX: FM) for US$260 million in November 2009, whilst its project was undertaking infill drilling at the Kalumbila copper-nickel deposit in north-western Zambia.

The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies in relation to the appointment of Mr Bird:

Colin Bird (aged 74)

 
 Current Directorships          Past Directorships / Partnerships 
  / Partnerships                 (last 5 years) 
-----------------------------  ---------------------------------- 
                                1 Tara Bar and Restaurant 
 African Pioneer Plc             CC 
 Bird Leisure and Admin 
  (Pty) Ltd                     Add X Trading 810 CC 
 Braemore Resources Ltd         Afminco (Pty) Ltd 
 Dullstroom Plats (Pty) 
  Ltd                           Dialyn Café CC 
                                Emanual Mining and Exploration 
 Galagen (Pty) Ltd               (Pty) Ltd 
 Galileo Resources Plc          Isigidi Trading 413 CC 
 Galileo Resources South        Jubilee Smelting & Refining 
  Africa (Pty) Ltd               (Pty) Ltd 
 Glenover Phosphate (Pty)       Mokopane Mining & Exploration 
  Ltd                            (Pty) Ltd 
 Holyrood Platinum (Pty) 
  Ltd                           NDN Properties CC 
 Jubilee Metals Group 
  Plc                           Orogen Gold Plc 
 Jubilee Tailings Treatment     Pilanesberg Mining Co 
  Company (Pty) Ltd              (Pty) Ltd 
 Lion Mining Finance 
  Ltd                           Pioneer Coal (Pty) Ltd 
 M.I.T. Ventures Group          PowerAlt (Pty) Ltd 
 Maude Mining & Exploration 
  (Pty) Ltd                     SacOil Holdings Ltd 
 New Age Metals Inc             Sovereign Energy Plc 
 NewPlats (Tjate) (Pty) 
  Ltd 
 Revelo Resources Corp 
 Tiger Resource Finance 
  Plc 
 Tjate Platinum Corporation 
  (Pty) Ltd 
 Umhlanga Lighthouse 
  Café CC 
 Windsor Platinum Investments 
  (Pty) Ltd 
 Xtract Resources Plc 
 

Mr Bird holds an interest in 50,000,000 ordinary shares in the Company, representing approximately 1.64 per cent of the existing issued ordinary shares.

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

Commenting today, Mr Laurence Read, Executive Director, said:

"The appointment of Colin to the FCR Board brings a wealth of operational and transactional experience to the Company as we look to progress our 100% owned Toral lead-zinc and associated metals project in Spain. Our objective is to realise shareholder value from targeted exploration activities on our promising portfolio assets and we look forward to Colin's assistance and guidance in this regard. We look forward to announcing a maiden JORC (2012) resource estimate for Toral in the near term."

Colin Bird, Chairman, went onto say;

"I am pleased to be joining Ferrum Crescent which is a highly focused company with a developing European lead zinc portfolio. The management team has a highly motivated approach to the Spanish lead Zinc Toral project, which is a project with strong underlying fundamentals and numerous upside potential. Additionally I perceive a European renaissance in base metal mining and the team is well equipped to search out, acquire and develop European base metal opportunities."

For further information on the Company, please visit www.fcrexploration.com or www.ferrumcrescent.com or contact:

Ferrum Crescent Limited

Grant Button, Non-Executive Director (Australia)

T: [phone]

Laurence Read, Executive Director (UK)

T: + 44 (0)20 3289 9923

Strand Hanson Limited (Nominated Adviser)

Rory Murphy / Matthew Chandler

T: [phone]

Peterhouse Corporate Finance Limited (Broker)

Lucy Williams / Duncan Vasey / Heena Karani

T: [phone]

Beaufort Securities Limited (Broker)

Elliot Hance

T: [phone]

Bravura Capital (Pty) Ltd (JSE Sponsor)

Melanie De Nysschen

T (direct): [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ('MAR').

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 12, 2018 02:00 ET (07:00 GMT)