20 Dec Appointment of two new Non-Executive directors
Anglesey Mining plc (LSE:AYM), the UK minerals development company, is extremely pleased to announce that Namrata Verma and Andrew King have been appointed as independent, Non-Executive Directors with immediate effect.
After an extensive search, Anglesey Mining has appointed two experienced minerals industry executives to the Board as independent directors to guide the management team in the development of the Parys Mountain and Grangesberg Iron projects. Their combined experience in the financing sector of the minerals industry worldwide will be invaluable in the successful future funding of both projects.
- Namrata Verma is an experienced corporate finance executive with strong credentials in advising metals and mining companies with assets at the pre-feasibility and feasibility stages on project bankability, growth strategies, funding options, and financing execution.
She is the founder of Terrafranca Advisory, which was set up in 2015 to provide independent debt financing advice to early-stage and small and mid-cap mining companies and investors. She has advised on bankability considerations, debt structuring and arranging on numerous mining projects in Europe and Africa.
Namrata previously had more than a decade of experience at Standard Chartered Bank, in Asia and the UK, where she was a director in the mining finance team focused on advising and arranging project and structured debt financing, acquisition financing and working capital funding for mining and metals clients. Namrata holds a Bachelor of Engineering from Nanyang Technological University, Singapore, and an MBA from London Business School, UK.
- Andrew King is a proven business leader with more than 25 years’ experience in the mining and metals sector where his management experience has encompassed strategic, financial and operational oversight. He is currently Managing Director of Scanmetals A/S, a specialist metal recycling business based in both the UK and Denmark, and prior thereto he was Group Director-Business Development at Amalgamated Metal Corporation Plc.
For fifteen years Andrew held various roles with Standard Bank plc, including Head of Resource Banking, Global Co-Head Investment Banking, and Chief Executive Standard Bank Asia. Earlier in his career he worked with BMO Nesbitt Burns and Warrior International. Other directorships have included Avnel Gold Mining Limited and Rame Energy plc. Andrew obtained a BSc in Metallurgical Engineering from the University of the Witwatersrand, South Africa and an MBA from London Business School, UK.
John Kearney, Chairman of Anglesey Mining, commented:
“We are particularly pleased that Namrata and Andrew have agreed to join our Board. They will strengthen and enhance the Board and will bring very extensive and relevant experience and the highest of reputations in their own particular sectors. It is a testament to the opportunity in Anglesey’s assets that after significant due diligence on each of their parts they both have agreed to join Anglesey to be part of our ongoing journey.”
“We look forward to Namrata and Andrew working with us, and with our new Chief Executive Jo Battershill, to provide major input and guidance into our project development and funding activities in the near future.”
About Anglesey Mining plc
Anglesey Mining is listed on the London Stock Exchange and currently has 248,070,732 ordinary shares on issue.
Anglesey is developing its 100% owned Parys Mountain copper-zinc-lead deposit in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the Indicated category and 11.7 million tonnes at 2.8% combined base metals in the Inferred category.
Anglesey holds an almost 20% interest, and management rights to the Grangesberg Iron project in Sweden, together with a right of first refusal to increase its interest by a further 50.1%. Anglesey also holds 12% of Labrador Iron Mines Holdings Limited which holds direct shipping iron ore deposits in Labrador and Quebec.
For further information, please contact:
John Kearney, Chairman + 1 416 362 6686
Jo Battershill, Chief Executive +44 (0)7540 366000