19 Nov 2013 07:00
19 November 2013
Sovereign Mines of Africa Plc
("Sovereign Mines" or "the Company")
Jan Nelson appointed as Non-Executive Director
Sovereign Mines of Africa Plc, the gold mining exploration company with properties in the Republic of Guinea in West Africa, is pleased to announce the appointment of Jan Nelson as a Non-Executive Director of the Company with immediate effect.
Jan brings over 15 years' experience in the mining industry, and is currently the CEO of Xtract Energy Plc (AIM: XTR). Jan was until February of this year the CEO of Pan African Resources PLC (AIM: PAF) where he was responsible for transforming the company from an exploration vehicle with limited cash resources to a 200,000oz per annum low cost, high grade precious metals dividend paying mining company. Prior to this Jan held positions in mine management and operations with Harmony Gold Mining Company Limited and Gold Fields Limited.
On appointment Jan Nelson has been granted options in the Company as set out below:
No. of Options | Exercise price | Commencement of exercise period | Expiry of exercise period |
1.0 million | 3.0 pence | 18 November 2014 | 18 November 2019 |
1.0 million | 3.0 pence | 18 November 2015 | 18 November 2019 |
1.0 million | 3.0 pence | 18 November 2016 | 18 November 2019 |
David Pearl, Chairman, said: "I am delighted that Jan has agreed to join our board as a Non-Executive Director. This is a welcome endorsement of the outstanding achievements of our team of geologists at Mandiana Magana. Jan's particular expertise will be invaluable as our Company moves to a new level, following the recent announcement of a maiden resource with outstanding grades and deep oxides as well as the subsequent acquisition of the adjoining concession, which further increases the property's potential."
The following information is provided pursuant to AIM Rule 17:
Jan Petrus Nelson, aged 43
Current directorships
| Previous directorships (past 5 years) |
Auroch Minerals SA (Proprietary) Limited Auroch Minerals NL Bi-Quantum Energy Services (Pty) Ltd Xtract Resources PLC Xtract Energy Holdings Limited
| Pan African Resources PLC Pan African Resources Funding Company (Proprietary) Ltd Barberton Mines (Proprietary) Limited Emerald Panther Investments 91 (Proprietary) Limited Evander Gold Mining (Pty) Ltd Phoenix Platinum Mining (Proprietary) Limited Firefly Investments 251 (Proprietary) Ltd Platinum Sands (Proprietary) Limited Mistral Resource Development Corporation Explorator Limited Brampton Capital Overseas Limited Friedshelf 1241 (Proprietary) Ltd PT Sands (Pty) Ltd |
There are no further disclosures required under schedule 2(g) of the AIM rules for Companies
ENDS
Enquiries:
Sovereign Mines of Africa PLC:
David Pearl F.C.A. - Chairman +353 696 8961david.pearl@sovmines.comJohn Barry - Exploration Director +353 8 7669 5608Nathan Steinberg - Finance Director +44 20 7269 7680
Shore Capital - Nominated Adviser & BrokerToby Gibbs / Bidhi Bhoma - Corporate FinanceJerry Keen - Corporate Broking +44 20 7408 4090
Square 1 Consulting LimitedDavid Bick / Mark Longson +44 20 7929 5599
Newgate ThreadneedleGraham Herring / Richard Gotla +44 20 7653 9858
About Sovereign Mines:
Sovereign Mines of Africa Plc is a mineral exploration company incorporated in England and Wales and headquartered in London
At the end of 2007, the founders of the Company saw an opportunity to pool their collective expertise and experience in order to form joint ventures for mineral exploration with governments in Africa. The Republic of Guinea in West Africa was identified as the first target and this ultimately gave rise to the establishment of the Company in 2010.
The Company has entered into a cooperative joint-venture with the Government of Guinea (the "Sovereign Partnership Structure"), pursuant to which the Government was granted a 40 per. cent. equity stake in Sovereign Mines of Guinea, the operating company of the group. The Directors believe that this collaborative approach gives the Company unusual advantages compared with other small exploration companies and as a result it has been able to acquire early stage substantial and highly prospective properties, any of which could, in the Directors' opinion, become a significant gold asset.