Mine Review and Management Changes (6461E)

TIDMFLOR

RNS Number : 6461E

Fluormin PLC

01 June 2012

Fluormin plc

("Fluormin" or the "Company")

MINE REVIEW AND MANAGEMENT CHANGES

LONDON, UK -- (Marketwire - 1(st) June 2012) - Fluormin Plc (AIM: FLOR) announces its engagement of financial advisors to assist it with a review of its Witkop Mine. During this review process, the Company will consult with its key local stakeholders and will continue to evaluate options to reduce costs.

We note that the Company remains well funded with cash and receivables of US$20.9 million (including restricted cash of US$1.9 million) as at 31st May 2012.

Mr. Nicholas Davidoff has resigned from the Board with immediate effect and will be replaced in the role of Non-Executive Chairman by existing board member Mr. James Passin. Mr. Gourley has also resigned as co-CEO, but will remain on the Board as a non-executive and assist the Company in the review process. Mr. Bolton will continue in the role of CEO. The Board wishes to thank Messrs. Davidoff and Gourley for their services in these respective roles.

About Fluormin Plc

Fluormin is a producer of acid grade fluorspar, an industrial mineral widely used in the chemical and aluminum industries for the making of products such as HFCs (Hydrofluorocarbons used as refrigerant gases like Freon (TM)) and aluminum fluoride.

Contact Information

 
 
Fluormin plc 
 
Mark Bolton, Chief Executive Officer  (44)20-7034 7150, mbolton@fluormin.com 
 
 Westhouse Securities 
 
Richard Baty                          (44)20-7601 6100, richard.baty@westhousesecurities.com 
 
Martin Davison                        (44)20 7601 6100, martin.davison@westhousesecurities.com

This information is provided by RNS

The company news service from the London Stock Exchange

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