Sign In
19 Dec 2017 07:03
China Nonferrous Gold Limited
(“CNG” or the “Company”)
Board Changes
China Nonferrous Gold Limited 中国有色黄金有限公司 (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, is pleased to announce the appointment of Mr. Xiuzhi Shi (“Mr. Shi”) and Mr. Yong Li (“Mr. Li”) as Independent Non-Executive directors with immediate effect.
Mr. Shi, aged 51, holds a PhD in Mining Engineering from the Central South University (“CSU”), where he has been an Associate Professor and Professor of the School of Resources and Safety Engineering since September 1999.
Mr. Shi has significant industry and academic experience in mining engineering and safety engineering. From May 1990 to August 1999, Mr. Shi worked as the technical market researcher at the Hebei Coal Science Research Institute while holding the post of mining engineer at the Gypsum Mine project for the Yunlong Group. Mr. Shi is a member of the mining committee of the Nonferrous Metals Society of China, a standardisation expert for the China Safety Industry Association and a safety culture expert for the State Administration of Work Safety. Mr. Shi has also hosted or participated in more than 80 scientific research projects in mining and safety engineering and has published over 160 academic papers in well-known domestic and overseas academic journals.
Mr. Li, aged 42, is an attorney and senior counsel (Partner) of Gaopeng & Partners. He is also the Executive Director at the Case Law Research Centre and is a supervisor of graduate students at the Law School of the Central University of Finance and Economics. Mr. Li holds a PhD degree in Law from the Tsinghua University and is a visiting scholar of Stanford Law School.
Mr. Li has significant expertise in academic research in Company Law, International Law and International Investment Law. He also has experience in investment, banking and mergers and acquisitions. Mr. Li has also worked in dispute resolutions in numerous industries including mining, manufacturing, infrastructure, construction, chemical engineering and in private equity and venture capital investment. He is a director at the Beijing Finance Law Institute and the China Securities Law Institute, and is a member of the China Law Society and the China National Lawyers’ Association.
The Company also announces that Mr. Che Pizhao has resigned as an Independent Non-Executive Director from the Board of the Company with immediate effect.
Wu Xiang, Non-Executive Chairman commented:
“We are delighted to welcome Mr. Shi and Mr. Li to the Board. Both of them have extensive experience in their respective fields and we believe they will provide our Board with significant expertise and insight. We look forward to working with them both as Independent Non-Executive Directors.
The Board of the Company would also like to take this opportunity to thank Mr. Che for his long service and the significant contribution that he has made to the development of the Company and management team, and wish him every success for the future. We will look to recruit a further Independent Non-Executive Director and are looking forward to updating shareholders in due course”
Further information relating to the Non-executive Director appointments
Neither Mr. Shi, nor Mr. Li have held any other directorships in the last 5 years save as set out above, and have not had any shareholding or interest directly or indirectly with the Company to date. The Company believe that there is no further information required to be disclosed under Schedule 2(g) of the AIM Rules for Companies.
For further information please visit the Company’s website (www.cnfgold.com) or contact:
China Nonferrous Gold LimitedYu Lixian, Managing DirectorTel: +86 10 8442 6681Investec Bank PlcJeremy Ellis, George PriceTel: +44 (0)20 7597 5970Beaufort Securities LimitedJon BellissTel: +44 (0)20 7382 8300BlytheweighTim Blythe, Camilla HorsfallTel: +44 (0)20 7138 3224
Project Summary
The Pakrut gold project, of which CNG has 100 per cent ownership, is situated in Tajikistan approximately 120km northeast of the capital city Dushanbe. Pakrut is located within the Tien Shan gold belt, which extends from Uzbekistan into Tajikistan, Kyrgyzstan and Western China, and which hosts a number of multi-million ounce gold deposits.
CNG is currently in a construction phase with mining contractors on site finalising restoration of the permanent external power supply, and the construction of ventilation systemt, tailings dam and backfill station.
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The country is a member of the Commonwealth of Independent States and the Shanghai Cooperation Organisation. Tajikistan hosts numerous operating precious metal mines as well as the largest aluminium smelter in Central Asia. CNG's management team has extensive experience in the mining industry in Tajikistan.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171218006270/en/
Copyright Business Wire 2017
Follow the stocks
