| Tue 3 Jul 2012, 8:00 | | DIRECTORATE CHANGE - APPOINTMENT OF FINANCE DIRECTOR |
|
AEA
DIRECTORATE CHANGE - APPOINTMENT OF FINANCE DIRECTOR
African Eagle Resources plc
Incorporated in England and Wales
(Registration number 3912362)
(AIM share code: AFE AIM ISIN: GB0003394813)
(JSE share code: AEA JSE ISIN: GB0003394813)
(a??African Eaglea?? or the a??Companya??)
DIRECTORATE CHANGE - APPOINTMENT OF FINANCE DIRECTOR
3 July 2012: African Eagle Resources plc (a??African Eaglea?? or the a??Companya??) (AIM: AFE; AltX: AEA)
is pleased to announce the appointment of David Newbold as Finance Director, effective 2 July 2012.
David joins the Board of Directors as an Executive Director with immediate effect whilst Robert
McLearon, who has acted as Interim Executive Director since 20 June 2012, has resigned his
position on the Board.
David Ronald Newbold, aged 62, has 35 years experience in the natural resources industry, with over
20 years of those specifically focused on international mineral resource development including
financing initiatives, mining, processing and marketing of base and precious metals in the UK, North
and South America, Europe, Australia and the Far East. He has held a number of executive and
senior positions at Compa??ia Minera Zald?-var (as an executive board director), Placer Dome Inc.,
Outokumpu Oyj, Mercury Resource Consultants LLP (as a managing partner) and Greystar
Resources Limited (renamed Eco Oro Minerals Corporation in August 2011).
During his time as CFO at Greystar Resources Limited, Mr Newbold was responsible for the strategic design
of a financing package, embracing debt, equity and strategic partners, to fund a US$1.4 billion gold project in
Colombia. Mr Newbold spent 11 years of his career at Placer Dome Inc. where his last role as Senior Vice
President Projects was specifically focused on the corporationa??s global capital projects with Mr Newbold
being accountable for advancing projects which exceeded US$4 billion in value to development
recommendations. Prior to this, he has also held the positions of President and CEO of Compa??ia Minera
Zald?-var SCM, a copper operation in Chile, and CFO of Placer Dome Latin America S.A. Mr Newbold is a
Fellow of the Institute of Chartered Accountants in England and Wales and holds a B.Sc. (Hons.) from the
University of East Anglia, England.
Commenting on the announcement, African Eaglea??s CEO, Trevor Moss stated: a??I am delighted to welcome
David to African Eagle. He has an excellent track record in the development, financing, risk mitigation,
governance and operation of natural resource businesses globally. Davida??s deep experience and strong
skills will complement the current management and project development team as we progress the
development of Dutwa through feasibility into construction and production.a??
There are no further disclosures required relating to Mr Newbold under Schedule 2(g) of the AIM Rules for
Companies.
For further information, please visit www.africaneagle.co.uk or contact:
African Eagle Resources plc
Trevor Moss, CEO
Alex Buck,
+44 20 7248 6059
Canaccord Genuity Limited (NOMAD and Joint Broker)
Rob Collins or Andrew Chubb
+ 44 20 7523 8000
Ocean Equities Limited (Joint Broker)
Guy Wilkes
+44 20 7786 4370
Russell & Associates, Johannesburg
Charmane Russell or Marion Brower
+27 11 880 3924
Sponsor
Merchantec Capital
Date: 03/07/2012 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
