15 Apr 2014 07:00
15 April 2014
Polo Resources Limited
("Polo" or "the Company")
Director appointment
Polo Resources (AIM and BSX: POL), the natural resources investment company with interests in oil and gas, gold, coal, iron ore and phosphate, announces the appointment of Gary Norman Lye as a Non-Executive Director of the Company with immediate effect.
Gary Lye (aged 61) has over 40 years' experience in natural resources having held senior positions with several leading mining companies. He is currently CEO of Asia Energy Corporation (Bangladesh) Pty Ltd., operating subsidiary of GCM Resources plc where he is COO. From 1994 - 2003 he was with Kalgoorlie Consolidated Gold Mines Pty Ltd as manager of strategic mine development at their Super Pit operations in Kalgoorlie, Western Australia.
He has previously acted as Manager of Mining Research for CRA in Perth, Western Australia and spent many years with Bougainville Copper Ltd. in Papua New Guinea. Gary has a Master's Degree in Rock Mechanics from the Royal School of Mines in London and an Honours Degree in Geology from the University of Queensland, Australia. He is a member of the Australian Institute of Mining and Metallurgy (AUSIMM).
Michael Tang commented: "Gary Lye's wealth of knowledge and extensive experience in natural resources will be of great advantage to the Company and I warmly endorse his appointment."
Mr Lye is currently or has within the past 5 years been a director of the following companies:
Current: Asia Energy Corporation Pty Limited, Asia Energy Corporation (Bangladesh) Pty Limited, Asia Energy (Bangladesh) Pvt Limited, GCM Resources Singapore Pte Limited, Smartrider Pty Limited.
Previous: Asia Energy Corporation Pty Limited, Asia Energy Holdings Pty Limited, Asia Mining (Bangladesh) Pvt Limited, GCM Resources plc.
Mr Lye holds no shares in Polo. There are no further disclosures under Schedule 2 paragraph (g) of the AIM Rules.
The Company also announces that Gary Good has decided to step down as Chief Financial Officer (CFO) of Polo, and would like to thank him for his services to the Company over the last six years. Gary Good will remain as a special advisor and commercial director to a number of the Company's investments.
He is replaced as CFO by James Hobson, a Fellow of the Institute of Chartered Accountants in Australia who has 15 years' finance and corporate experience, predominantly in natural resources and international development, including eight years in the AIM environment. He is currently CFO and Company Secretary of GCM Resources plc.
Polo Resources Limited Kudzayi Denenga, Investor Relations
| + 27 (0) 787 312 919 |
ZAI Corporate Finance Ltd (nominated adviser) Ray Zimmerman, Peter Trevelyan-Clark
| +44 (0) 20 7060 2220 |
Liberum Tim Graham, Thomas Bective
| +44 (0) 20 3100 2000 |
Blytheweigh Tim Blythe, Halimah Hussain | +44 (0) 20 7138 3204 |
About the Company
Polo Resources is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For further details on Polo Resources please see the Company's website: www.poloresources.com.