Mine Review and Management Changes (6461E)
01 Juin 2012 - 1:30PM
UK Regulatory
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
END
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