– UK, London – Armadale, the AIM quoted investment company focused on natural resource projects in Africa, is pleased to announce that it has appointed Emmanuel Steve Mahede to the Board as non-executive director with immediate effect. Mr Mahede, who is fluent in Swahili, is currently Managing Director of Praxis Global Pty. Ltd., which provides product appraisal and market analysis for projects and has recently been involved in supporting mining projects in Tanzania. The Board anticipates that his extensive local knowledge and experience in the mining sector will be highly beneficial following the acquisition of the high grade Mahenge Liandu Graphite Project in south-east Tanzania in July 2016.
Additionally, Dr. Andrew Tunks, non-executive director of Armadale, is stepping down from the Board in order to concentrate on his role as CEO of ASX-listed Auroch Minerals Limited. He has been granted 500,000 shares of 0.1p at an issue price of 2.12p each in lieu of notice.
Mr Mahede has extensive experience in managing projects and as a CEO in charge of them. With a BEng from University of Western Australia and an MBA from Murdoch University in Perth, WA., he has some 35 years experience in project management and business. Having been born in Tanzania, he keeps in close contact with business there and is Patron of the Tanzanian Community in Western Australia Inc.. He is also Chairman of the Mahede Foundation which is a charity providing educational assistance to disadvantaged Tanzanian children.
William Frewen, Chairman of Armadale, said, “Steve has a strong background in mining, knows the graphite industry and most importantly has the exceptional local knowledge of Tanzania, which we believe will prove enormously helpful as we develop the Mahenge Liandu Graphite Project. Results to date from Mahenge Liandu have been extremely encouraging, with rock chip sampling and drilling highlighting high grade graphite mineralisation, and the Board are confident that Steve’s contacts and advice to be highly beneficial as we move forward with our exploration drilling campaign in the coming weeks.
“We are very grateful to Andrew Tunks as his contribution has been a great benefit to the Board thanks to his deep technical knowledge in mining and we wish him well as he concentrates exclusively on his role as CEO of Auroch Minerals Limited.”
Armadale Capital Plc (AIM:ACP), is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.
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