Red Crescent Announces Changes to the Board & Management
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 01/13/12 -- Red Crescent Resources Limited (TSX: RCB)(FRANKFURT: 7RC), a base metals focused mineral exploration and development company with operations in Turkey, announced today that it had received resignations from two of its Independent Directors for personal reasons and conflicts of interest respectively. These Directors have been immediately replaced with two new appointments, one international and one Canadian, both independent, details of whom are to be found herein below.
Further Red Crescent announced the separation of the Operations management from the Strategic management with the appointment of a Chief Operating Officer who will also have the role of CEO in Turkey of the RCR Holding A.S. company which manages the company's projects, explorations development and production operations. The details of the appointee, Dr. Selahaddin Anac, are also to be found herein below.
Independent Directors
RCR received a letter of resignation from Peter Jones for personal reasons on 20th Dec 2011 and RCR gives thanks to Peter for his contribution during his tenure. RCR announced that Peter has been replaced with effect from 12th January 2012 as Independent Canadian Director by Mr. Robert (Bob) Perry, previously a manager in the listings department of TSX and who recently retired from that position.
Bob is a qualified mine geologist by trade, educated with a BSc. Honours in Geology from the University of Western Ontario and with seven years operational experience prior to starting his illustrious career with the TSX over the past 30 years as a front-line guardian of the public's trust in the Canadian capital markets. Bob's diplomatic skills, ability to efficiently analyze listed company transactions, his thorough understanding of TSX policies and practices, and very good understanding of trading and settlement rules, and good understanding of securities laws will ensure that his contribution to RCR for the benefit of its stock holders will be significant.
Further Red Crescent received a letter of resignation from a recent appointee, Bradley Doig, a Director of Petmin Ltd, a strategic investor in RCR, Mr. Doig notified his resignation in writing for reasons of potential conflict of interest. RCR has also announced his replacement as International Independent Director by Mr. Cem Elmastas, a Turkish and French citizen, who graduated from Lycee de Galatasaray, Istanbul, from Bosphorus University, Istanbul in Economics (BSc.) and from Universite de Lyon Lumiere 2, France in Computer Aided Management (MSc). He currently resides in Geneva.
He started his career in 1990 in Transamine S.A. Paris in the international trading of raw materials, specialized mainly in non-ferrous concentrates. Over 20 years of experience in the same field and intensive travelling, Mr Elmastas accumulated experience in various aspects of trading, including marketing and sales, hedging, logistics and financing services to various mining companies. In January 2010 he left Transamine Group while he was managing the global book of lead & zinc concentrates in a network of 12 offices around the globe.
Mr Elmastas is currently a director in Link Investment & Consulting LLP., a company providing trading, investment and advisory services to miners and smelters around the globe and the holder of the Marketing Contract for RCR attributable production. He maintains a strong global network of relationships and contacts in the base metal mining / smelting sector.
"We are delighted with the appointment of the two new Independent Directors to the RCR Board. Combining RCR's strength of building and operating mines, with over 20 years experience of Mr. Elmastas in the commodities trading area strengthens the intellectual capital base of RCR and adds considerable value as RCR progresses to become a significant producer of base metal ores and concentrates in Turkey," said Mr. Alan M. Clegg, Chairman and CEO of Red Crescent. "Adding the experience of Bob Perry in the area of public company administration, regulation and governance to the team is also very significant as Red Crescent develops corporately to a larger functioning strategic entity with massive strategic growth potential. Bob's early years in the mines in Canada adds significant foundational understanding of the operational development of mines also, enabling a broader contribution to the tactical execution of the strategic imperatives."
OPERATIONAL MANAGEMENT
RCR is further delighted to announce the appointment of Dr. Selahaddin Anac as CEO in Turkey of RCR Holding A.S., the Corporation's operating subsidiary holding company for its assets in Turkey. Effectively, Dr. Anac has adopted the role of the Corporation's Chief Operating Officer responsible for tactical execution of the operational strategy set by the Board for all asset and projects, exploration, mining and processing operations and performance in Turkey.
"Dr. Anac educated at Leeds University in England as a Mineral Processing Engineer worked extensively in the base metal industry in Turkey and has been involved in all aspects of project development and in the previous 12 years was the Chairman of the Board and General Director of the Turkish State Coal Company, TKI," also said Mr. Alan M. Clegg, Chairman, President and CEO of Red Crescent. "His technical, operational and diplomatic ability combined has added tremendous strength to the operating management team on the ground, while freeing myself to focus on the Strategic execution of the RCR vision for Turkey and we are delighted he chose to join us sharing and executing our vision."
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
About Red Crescent Resources
Red Crescent Resources (TSX: RCB)(FRANKFURT: 7RC) is a Turkey-based junior mining company targeting historically inaccessible areas where no modern application of exploration techniques or technology has been applied, with high potential for discovery of significant base metal deposits. For more information, please visit: .
Contacts:
TMX Equicom
Joe Racanelli
+1 416 815 0700 ext 243
Red Crescent Resources
Alan Clegg
+90 530 662 8964 or +27 82 469 8378
+90 312 448 2926 (FAX)
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Datum: 13.01.2012 - 18:29 Uhr
Sprache: Deutsch
News-ID 104044
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