Board and Management Changes
Perth, Oct 22, 2015 AEST (ABN Newswire) - Bauxite Resources Limited (
ASX:BAU) advises that following the signing of the non-binding MOU for the resolution of the dispute and determination of the joint ventures with Yankuang, with the likely consequential change in focus and direction for BRL going forward, the current Chief Executive Officer and Executive Director Peter Canterbury has resigned his position and decided to pursue other opportunities in the resources sector.
The Board has appointed Sam Middlemas as a Chief Executive Officer with immediate effect. Sam has been with the Company for over 3 years in the role as Company Secretary and was Acting Chief Executive Officer prior to the appointment of Peter Canterbury.
A Bio of Mr Middlemas is attached.
Chairman Robert Nash said:
"On behalf of the BRL Board, I wish to express our gratitude and thanks to Peter for his work and commitment to the Company over the past 2 1/2 years, and wish him all the best in his future endeavours.
We are very pleased to be able to retain Sam's services as we continue to work towards finalising resolution of the relationship with Yankuang which will clarify matters for BRL going forward and enable the Company to refocus on its primary goal of achieving meaningful returns to our patient and loyal shareholders."
About Bauxite Resources Limited
Bauxite Resources (ASX:BAU) (OTCMKTS:BXRDF) was established with a substantial tenement holding in Western Australia to develop new bauxite supply for the global alumina/aluminium industry. The Company listed on the Australian Securities Exchange (ASX) in October 2007.
The Darling Range in the south-west of Western Australia (WA) is the world's largest bauxite mining and alumina refining region producing around 20% of the world's alumina. This area has mined bauxite and refined alumina since the 1960s. These industries are leaders in sustainable resource development and represent the fifth largest sector of WA's resource industry.
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