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Perth, Nov 29, 2011 (ABN Newswire) - Anglo Australian Resources NL (
ASX:AAR) wishes to advise that Mr Chris Fyson has retired from the Board in accordance with the Constitution.
Mr John Jones will assume the role of Chairman from now on.
In addition, Dr Denis Clarke announced his retirement from the Company following the AGM.
Mr Fyson has been a Director of the Company since 1985 and the Board thanked him for his long service to the Company which included being Chairman for the past 12 months. Dr Clarke has been a director since 1999 and has acted as the Company's Technical Director during this period.
Mr Jones thanked both Mr Fyson and Dr Clarke for their services to the Company.
The Company is pleased to advise that Mr Peter Stern has been appointed a Director following these changes.
Mr Stern is a graduate of Monash University with a Bachelor of Science degree majoring in geology (1st Class Honours). After completing his degree, he worked for three years as a geologist for Delhi Petroleum.
In 1987, Mr Stern joined Macquarie Bank where he worked for six years as a corporate finance executive. He subsequently held senior positions in corporate advisory for both UBS (NYSE:UBS) and Deutsche Bank (NYSE:DB), both three-year stints. In such roles, he was responsible for many substantial public company transactions in the resources sector.
In 2000, Mr Stern established Metropolis Pty Ltd, a boutique corporate advisory firm that specializes in M&A and capital raisings, with a particular emphasis on the resources sector.
Mr Stern is a Fellow of the Australian Institute of Company Directors.
ASX:AAR) wishes to advise that Mr Chris Fyson has retired from the Board in accordance with the Constitution.Mr John Jones will assume the role of Chairman from now on.
In addition, Dr Denis Clarke announced his retirement from the Company following the AGM.
Mr Fyson has been a Director of the Company since 1985 and the Board thanked him for his long service to the Company which included being Chairman for the past 12 months. Dr Clarke has been a director since 1999 and has acted as the Company's Technical Director during this period.
Mr Jones thanked both Mr Fyson and Dr Clarke for their services to the Company.
The Company is pleased to advise that Mr Peter Stern has been appointed a Director following these changes.
Mr Stern is a graduate of Monash University with a Bachelor of Science degree majoring in geology (1st Class Honours). After completing his degree, he worked for three years as a geologist for Delhi Petroleum.
In 1987, Mr Stern joined Macquarie Bank where he worked for six years as a corporate finance executive. He subsequently held senior positions in corporate advisory for both UBS (
NYSE:UBS) and Deutsche Bank (NYSE:DB), both three-year stints. In such roles, he was responsible for many substantial public company transactions in the resources sector.In 2000, Mr Stern established Metropolis Pty Ltd, a boutique corporate advisory firm that specializes in M&A and capital raisings, with a particular emphasis on the resources sector.
Mr Stern is a Fellow of the Australian Institute of Company Directors.
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About Anglo Australian Resources Nl
Anglo Australian Resources NL (ASX:AAR) (PINK:AAURF) has been listed on the ASX as a junior explorer since 1986 focusing on gold and base metals. The company has now in place a strategy to move the company from a junior exploration company to a mid tier miner.
In the last three years we have advanced Mandilla from an exploration project to a producing gold mine. This mine, while lasting only nine months, is providing the company with cash flow to fund exploration and development work on the company’s key base metal project Koongie Park.
If the current high demand for base metals is maintained, development of this project has the potential to provide substantial revenue for the company. In addition Anglo Australian Resources NL is actively exploring its strong portfolio of tenements prospective for gold and base metal.
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