Perth, Australia - July 9, 2012, Perth, Australia - Mawson West, a copper producer, announced the resignation of president and chief executive officer David Frances, effective immediately.
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Mr. Frances has more than 20 years experience in multi-commodity mineral exploration, project evaluation, project finance, development and mining in Australasia (including China) North America, Africa and New Zealand. During the past three years Mr. Frances has served as a director of Orrex Resources Ltd.
The Company also announced the appointment of the current Chairman, Mark Stowell, as interim president and CEO, and Anthony Lloyd, the Deputy Chairman of the Company, has assumed the role of Chairman with immediate effect.
Mr. Stowell has been a Non-Executive Director of Kula Gold since August 2010. He is a Chartered Accountant with over 20 years of corporate finance and resource business management experience in a large variety of roles. He served as manager in the corporate division of Arthur Andersen and subsequently in management of a number of resource companies operating in Australia and internationally for 20 years.
Mr. Stowell was a founder of Anvil Mining Ltd (DRC) and on its board for seven years until 2000. He was also a founder and Non-Executive Director of Incremental Petroleum Limited, a Californian private oil and gas producer, and a Director of Crusader Resources Limited for a number of years. Mr. Stowell is a member of the Institute of Chartered Accountants and has a BBus from Edith Cowan University (formerly the WA College of Advanced Education).
Mr. Lloyd has been actively engaged for more than 30 years in corporate finance. Mr Lloyd has a B.Sc. (Honours) degree in Mining Engineering from the Royal School of Mines, London, and a Master of Business Administration degree from Columbia University, New York. Previous positions include Capital Canada Limited a Toronto-based investment banking firm as a senior partner, and until 2005 Managing Partner of Private Capital Markets Corp. Mr. Lloyd currently runs his own corporate advisory and investment business, Rivenhall Capital Limited. ■
Modified arctic air combined with a moisture-laden area of low pressure along the Gulf Coast will continue to allow for a broad area of winter weather impacts from the Lower Mississippi Valley to the Southeast today into early Saturday morning.