Wolf Minerals Ltd: Board Changes
June 11, 2013 — (Source: Wolf Minerals Ltd) — Wolf Minerals Limited (“Wolf” or the “Company”) is pleased to announce the appointment of Mr Michael Wolley as a director of Wolf Minerals Limited.
As part of a placement announced on 21 December the Company introduced a new strategic investor, TTI (NZ) Limited (“TTI”) to assist in the development of the Hemerdon project. TTI subscribed for 39,410,000 shares for a 19.9% interest in Wolf. As part of its investment, TTI is entitled to nominate a Director to join the Wolf board. Mr Wolley was nominated to the board by TTI.
TTI is a wholly owned subsidiary of the Todd Corporation Limited, a private New Zealand-based company with a diversified portfolio of business interests.
Michael holds a first class honours degree in Chemical and Materials Engineering (University of Auckland) and a Masters of Management (Macquarie Graduate School of Management). Michael had a 15 year career with Mobil Oil Australia in a range of roles including engineering, operations, strategic planning and business development in Australia and New Zealand. In 1995 he left Mobil to pursue opportunities in Asia Pacific and worked in a number of senior executive roles in the manufacturing and industrial sectors including a period as President BlueScope Steel China.
In 2007 Michael returned to the resources sector as Chief Operating Officer for Lynas Corporation, and subsequently into the gold sector where he is a Director of Red Mountain Mining, an ASX listed gold development business.
Michael currently holds the position of Vice President Minerals for the Todd Corporation. He is a Director of Montero Mining, a TSX listed resources business, Forge Resources, an ASX listed resources business and also sits on the Board of Strattera, the New Zealand minerals industry body, and is a member of the AICD and the NZICD.
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Jonathan Downes, a founder member of the Company, has resigned from the Board today to concentrate on other commitments. The Board would like to extend its sincere gratitude for the guidance provided over the past 6 years.
About TTI (NZ) Limited and the Todd Corporation
TTI (NZ) Limited is a wholly owned subsidiary of the Todd Corporation, a 100% private, family owned company and one of New Zealand’s largest and most successful companies. With a history that spans over 125 years, the business has interests in oil and gas exploration and production, electricity generation, energy retailing, property development, healthcare, telecommunications and wine.
About Wolf Minerals
Wolf Mineral is an ASX listed and AIM listed specialty metals company focused on developing the world class Hemerdon Tungsten and Tin Project, in Devon, in the south-west of the UK. The Company holds an option over 100% of the Hemerdon project, which the Directors consider to be one of the largest undeveloped tungsten and tin resources in the western world. It is ranked as the fourth largest tungsten deposit in the world in terms of contained tungsten metal, by The British Geological Survey. The Company aims to develop the project into a large scale, open pit mining operation, which will position it as a world class tungsten and tin producer. Wolf released a positive Definitive Feasibility Study for the Hemerdon project in 2011, and it has updated planning permission for mining until 2021.
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