31 Oct 2013 07:00
31 October 2013
Bellzone Mining plc
("Bellzone" or "the Company")
Change in Directors
Bellzone Mining plc (AIM: BZM) today announces the retirement from the Board of Directors of Mr Nikolajs (Nik) Zuks, aged 61, an Executive Director of the Company, with immediate effect. Mr Zuks wishes to step down to devote more time to his other interests.
Mr Zuk's commented, "Glenn Baldwin assumed the position of CEO from me a little over a year ago and has progressed Bellzone to the point of funding Kalia with a bankable feasibility study. The Company is ready for the next phase of development under his leadership. Glenn has the expertise and leadership to take Bellzone forward and it is time for me to take the opportunity and step down from the Board. I remain a very interested and supportive shareholder and look forward to seeing Kalia being built and Bellzone being developed under Glenn's leadership."
Mr Michael Farrow, Chairman, commented, "Bellzone was born out of Nik's vision for iron ore being produced out of Guinea. Since 2006 he has built on that vision. We are now very close to bringing Kalia to reality and realising the next step in creating an iron ore mining industry in Guinea. The Company has undergone significant change in its lifecycle. The transition from Nik to Glenn has been successful and now we are reviewing the Board as we move towards becoming a major iron ore producer. I thank Nik for his significant contribution to Bellzone and wish him all the best in his future ventures."
Enquiries:
Bellzone Mining plc | |
Peta Baldwin, Corporate Affairs | +44 (0) 1534 513 500
|
Investec Securities | |
Nominated Adviser and Broker | |
Chris Sim/Jeremy Wrathall/Jeremy Ellis | +44 (0)20 7 597 5970 |
Tavistock Communications | |
Financial Public and Investor Relations | |
Jos Simson/Mike Bartlett | +44 (0)20 7920 3150 +44 (0)7899 870 450 |
About Bellzone Mining Plc
Bellzone Mining plc ("Bellzone") is an exploration and resource development company with iron ore ("Fe") and nickel/copper permits in the Republic of Guinea, West Africa. Bellzone's flagship project, Kalia, contains JORC-compliant resources of 913.2 million tonnes at 36.3% Fe of oxide and supergene banded iron formation, including 124.2 million tonnes at 53.5% Fe, and a globally significant magnetite resource of 4.72 billion tonnes at 29.3% Fe. There is a Probable Reserve of 59.8Mt at 54.1% Fe within the high grade indicated oxide mineral resource which underpinned a BFS for Kalia Project 1 ("KP1") released via an RNS announcement on 17 September 2013.
Bellzone and China International Fund each hold a 50% investment interest in the holding company of the joint venture operations at the Forécariah iron ore mine which commenced production in May
2012.