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Board Appointments

24 April 2012

West African Minerals Corporation
("WAFM" or the "Company")

Board Appointments

 

Further to the announcement on 16 March 2012, West African Minerals Corporation (AIM: WAFM), an iron ore mining and exploration group, is pleased to announce that Brad Mills and Anton Mauve have now been appointed to the Board of WAFM. Brad Mills joins the Board as Executive Vice Chairman and Anton Mauve as Managing Director. Brad Mills and Anton Mauve are principals of Plinian Capital Limited which has acted as operator of CMC Guernsey Limited, a wholly owned subsidiary of WAFM.

In addition the Company is pleased to announce the appointment of Gerard Holden and Gualtiero Giori as Non-executive Directors.

The Company also announces that Patrick Weller, who has been a non-executive director of the Board since January 2008, has stood down from the Board with immediate effect. 

The new Board composition is as follows:

Executive Directors:

Stephen Roland Dattels, Chief Executive Officer and Executive Co-Chairman
Brad Mills, Executive Vice Chairman
Anton Mauve, Managing Director
Denham Eke, Chief Financial Officer

Non-executive Directors:

James Mellon, Non-executive Co-Chairman
Guy Elliott, Non-executive Director
Gerard Holden, Non-executive Director
Gualtiero Giori, Non-executive Director

Brad Mills is Managing Director at Plinian Capital Limited, a private mine investment company and is also currently serving as Chief Executive Officer of Mandalay Resources Corporation, a Canada-based mining company listed on the Toronto Stock Exchange, involved in the discovery, development and production of mineral commodities including gold, silver and antimony in Australia and Chile. Mr Mills was previously Chief Executive Officer of Lonmin plc, a major platinum and platinum group metals (PGM) producer from 2004 to 2008. Prior to that, he was President at BHP Billiton's Base Metals Division. Mr Mills is also a non-executive director of Norilsk Nickel, a major producer of nickel and palladium, and one of the largest global producers of platinum and copper.

Anton Mauve is a qualified geologist with over twenty years of experience in the resource industry and who previously held senior executive roles at Lonmin Platinum. Mr Mauve holds an MBA, an MSc in Science in engineering and a BSc (hons) in geology and is registered as a Professional Natural Scientist in South Africa.

Gerard Holden spent more than 20 years of his career with the Barclays Bank Group. Prior to leaving in May 2006 he was Global Head of Mining & Metals. Since leaving Barclays Capital, Mr Holden has served as chairman of AIM-traded GCM Resources plc. He has also served as an independent director and chairman of the audit committee of Norilsk Nickel. Mr Holden is currently the chairman of privately held Verivox Holdings Ltd which owns Germany's largest internet based consumer switching portal for electricity and gas prices. A chemical engineer by training, Mr Holden spends the remainder of his time assisting natural resource companies with strategic advice. Mr Holden was previously a director of Lonrho Africa plc and Brinkley Mining plc. Since 2011 Mr Holden has been a non-executive director of Namakwa Diamonds Limited, a company listed on the Main Market of the London Stock Exchange.

Gualtiero Giori has a Bachelor degree in Finance from Bocconi University in Milan, Italy. He was a co-founder of Sagio Asset Management SA where he was also President of Management Board and was in charge of trading in US small and mid-caps stocks. Mr Giori was named by Trader Monthly Magazine as one of "top 30 trader under 30 years old". He founded Generation Group where he acted as CEO. Mr Giori has been nominated to the Board by Generation Resources Holdings Limited, Generation Resources Limited and Deltec Bank & Trust Limited.

Stephen Dattels, Chief Executive Officer and Executive Co-Chairman, commented:

“Firstly the Board would like to thank Patrick for his valued contribution during his time as a director of the Company and are pleased that he has agreed to stay on with the Company as a Consultant. We are delighted to welcome the new directors to the Board and look forward to working with them as we develop the Company’s iron ore portfolio and transition West African Minerals from an iron exploration company into an iron ore producer.”

AIM Disclosures

Further disclosures on Mr Mills, Mr Mauve, Mr Holden and Mr Giori as required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are as follows:

The directorships and / or partnerships held by Bradford (Brad) Alan Mills, aged 57, in the previous five years are as follows:

Current

Past

CMC Guernsey Limited

ACGE Investments Limited

Erba Inc.

Akanani Mining (Pty) Limited

Jiva Capital Projects Limited

Eastern Platinum Limited

Mandalay Resources Corporation

Greataward Limited

Mills Finance Company LLC

ICMM

Mills Foundation
OJSC MMC Norilsk Nickel

London Australian & General Property
Company Limited

Plinian Capital Limited

London City & Westcliff Properties Limited

 

Lonmin Bahamas Hotels Limited

 

Lonmin Finance Limited

 

Lonmin Mining Company Limited

 

Lonmin Mining Supplies Limited

 

Lonmin Mozambique Oil Holdings Limited

 

Lonmin Public Limited Company

 

Lonmin Textiles Limited

 

Lonwest Properties Limited

 

LSA (U.K.) Limited

 

Messina Limited

 

Messina Platinum Mines Limited

 

MNG Investments Limited

 

Scottish and Universal Investments Limited

 

SouthernEra Mining and Exploration South Africa (Pty) Limited

 

The African Investment Trust Limited

 

Tobs Limited

 

Topmast Estates Limited

 

Western Platinum Limited

 

The directorships and / or partnerships held by Anton Christopher Mauve, aged 45, in the previous five years are as follows:

Current

Past

CMC Guernsey Limited

Blackridge Cellars

Metallogenic Mining Ltd

Environ-Ventures

Plinian Capital Limited

 

Nimini Holdings Limited

 

The directorships and / or partnerships held by John Gerard Holden, aged 48, in the previous five years are as follows:

Current

Past

GCM Resources plc

Brinkley Mining plc

Namakwa Diamonds Limited

Lonrho Africa plc

Verivox Holdings Ltd

OJSC MMC Norilsk Nickel

VVX Investments Limited

Bold Moves (243) Pty Ltd

The directorships and / or partnerships held by Gualtiero Tomaso Giori, aged 31, in the previous five years are as follows:

Current

Past

Actium Holding SA

Detto Technologies Inc.

G2 Russia Fund

Guanet Sarl*

Generation Group

Leading Hedge SA***

Transparency Finance SA

Sagio Asset Management SA**

 

VanthedgePoint Group Inc

* Mr Giori was Associate Manager of Guanet Sarl until 3 April 2008. On the same date the liquidation of Guanet Sarl commenced, which was completed on 28 May 2009.

*** While Mr Giori was a director, on 16 September 2010 Leading Hedge SA was provisionally put in liquidation, which was then subsequently reversed by the Canton of Geneva Court of Justice on 9 December 2011.

***Mr Giori was a director of Sagio Asset Management SA until 2 April 2008. On the same date the liquidation of Sagio Asset Management SA commenced, which was completed on 18 August 2009.

Brad Mills and Anton Mauve have today (the “Grant Date”) been granted options under the Company’s share option scheme to subscribe for 2.8 million and 1.4 million ordinary shares in the Company (“Ordinary Shares”) respectively at an exercise price of 25 pence per Ordinary Share, exercisable until the fifth anniversary of the Grant Date and vesting over a three year period from the Grant Date with a third vesting on each anniversary of the Grant Date.

Gerard Holden and Gualtiero Giori have today each been granted options under the Company’s share option scheme to subscribe for 500,000 Ordinary Shares at an exercise price of 25 pence per Ordinary Share, exercisable until the fifth anniversary of the Grant Date and vesting over a three year period from the Grant Date with a third vesting on each anniversary of the Grant Date.

There is no further information on Mr Mills, Mr Mauve, Mr Holden or Mr Giori required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

 

For further information:

West African Minerals Corporation

Denham Eke

+44 (0) 1624 639396

Beaumont Cornish Limited
(Nominated Adviser)

Roland Cornish

Michael Cornish

+44 (0) 20 7628 3396

Investec Bank PLC
(Broker)

Neil Elliot

Chris Sim

+44 (0) 20 7597 5970

GTH Communications

Toby Hall

Suzanne Johnson Walsh

+44 (0) 20 3103 3902

 

About West African Minerals Corporation

West African Minerals Corporation (AIM: WAFM) is an iron ore mining and exploration group focused on West Africa with interests in iron ore exploration licences in Cameroon and Sierra Leone. Further information on the Group is available at www.westafricanminerals.com.

 

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