SouthGobi Energy Resources Announces Senior Management and Board Appointments
2009年10月13日 - 4:37AM
Marketwired
SouthGobi Energy Resources Ltd. (TSX VENTURE: SGQ) announced a
series of senior organizational changes today. Heading the change
is the appointment of Alexander Molyneux, SouthGobi's current
President, to the dual role of President and Chief Executive
Officer (CEO). Mr. Molyneux joined SouthGobi as President in April
this year and was formerly Managing Director, Head of Metals and
Mining Investment Banking, Asia Pacific, with Citigroup. Mr.
Molyneux succeeds Peter Meredith, who will assume the position of
Chairman of the Board. John Macken, who has been Chairman since
2007, will remain a director of the company.
"Alex has demonstrated that he is the right person to take over
as Chief Executive and guide our company into the next phase of
growth," said Mr. Meredith. "Alex will lead the management team
tasked with the expansion of the company's flagship Ovoot Tolgoi
coal mine, as well as the ongoing development of the company's
other coal projects in southern Mongolia and Indonesia."
Dave Bartell has been appointed Vice President, Director of
SouthGobi's Mongolian Operations. Mr. Bartel has been the General
Manager of Southgobi sands LLC, the company's Mongolian subsidiary,
since November 2007 and Manager of Engineering since joining the
company in January 2007. Dave has more than 30 years' experience in
the mineral resources industry and was formerly an independent
coal-industry consultant.
In September, SouthGobi appointed Gavin May, a veteran coal
industry executive, as Chief Operating Officer. Mr. May is managing
the company's coal mining and exploration operations in Mongolia.
He has more than 25 years' experience in the industry and was
formerly Chief Executive Officer and Managing Director of
Gloucester Coal Ltd., which is listed on the Australian Stock
Exchange.
About SouthGobi Energy Resources
SouthGobi Energy Resources is focused on exploration and
development of its Permian-age metallurgical and thermal coal
deposits in Mongolia's South Gobi Region. The company's flagship
coal mine, Ovoot Tolgoi, is producing and selling coal to customers
in China. The company plans to supply a wide range of coal products
and electricity to markets in Asia.
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, the company's future ability to supply coal
products and electricity to markets in Asia, and other statements
that are not historical facts. When used in this document, the
words such as "could," "plan," "estimate," "expect," "intend,"
"may," "potential," "should," and similar expressions are
forward-looking statements. Although SouthGobi Energy Resources
believe that the expectations reflected in these forward-looking
statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important
factors that could cause actual results to differ from these
forward-looking statements are disclosed under the heading "Risk
Factors" in SouthGobi Energy's Management's Discussion and Analysis
of Financial Condition and Results of Operations for the year end
Dec. 31, 2008, which is available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SouthGobi Energy Resources Ltd. Steven Feldman
Investors 604-681-6799 SouthGobi Energy Resources Ltd. Bob
Williamson Media 604-681-6799 www.southgobi.com
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