Northern Minerals appoints new CFO and joint Company Secretary
December 3, 2012 (Source: Northern Minerals) — Rare Earth developer Northern Minerals (ASX: NTU) is pleased to advise it has appointed Mr Mark Tory to the new position of Chief Financial Officer (CFO) and joint Company Secretary.
Mr Tory, a Chartered Accountant with an MBA majoring in finance from the University of Western Australia, is a highly experienced executive in the mining and resources sector, having held senior finance and strategic positions with both large and small resources companies. He was most recently Managing Director of Crescent Gold Limited, after a two year period as CFO and Company Secretary, and he played a key role in that company’s recent merger with Focus Minerals.
Previous to this, Mr Tory held executive positions with Anglo American Exploration (including as Vice President–Finance, Global) and Homestake Gold of Australia Limited (now Barrick Gold) in a range of financial and strategic roles, based in Australia and North America, as well as with Deloitte in its Audit and Corporate Advisory Division from 1986 to 1993.
Mr Tory will commence with Northern Minerals on Monday, 3 December 2012 and his appointment as a full time CFO comes as the Company ramps up plans to develop its Browns Range Heavy Rare Earth (HRE) project in northern Australia.
Northern Minerals Managing Director George Bauk said the Company was pleased to add an executive of the calibre of Mr Tory to its team.
“The Company is at an important stage of development, requiring a full time CFO as we advance our project management activities and look forward to significant development milestones,” Mr Bauk said.
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About Northern Minerals
Northern Minerals Limited (ASX: NTU) is focused on development of rare earth elements (REE), with a large and prospective landholding in Western Australia and the Northern Territory.
The Company’s flagship project is Browns Range, where it has a number of prospects with high value, heavy rare earth elements (HREE), in xenotime mineralisation. In particular, the mineralisation includes high levels of dysprosium and yttrium, which are in short supply globally. Following outstanding results from its drilling and metallurgical programs, the Company is aiming to deliver its maiden JORC resource by the end of 2012, and advance Browns Range toward production, using a relatively simple and low cost processing flow sheet to produce a high grade concentrate. Northern Minerals also has a HREE exploration program underway at the geologically similar John Galt project.
Northern Minerals also holds a number of non-REE assets, including the large and prospective Gardiner-Tanami project and Gardner Range JV project on the WA-NT border. The projects are located within the world-class Tanami-Arunta gold region and have a number of early stage gold targets. Northern Minerals is currently pursuing divestment options for these assets. For more information, visit www.northernminerals.com.au
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