– UK, London – Cradle Arc (LON:CRA), the African focused base and precious metals exploration and production company, todayo announced the appointment of James Turnbull to the Board of the Company as a Non-Executive Director, with immediate effect. In addition, the Company announces that Michael Golding and Oscar Kirkovits have resigned from the Board, with immediate effect to pursue their other business interests.
James Turnbull began his career as a solicitor, qualifying with Linklaters in London in 1992, before transferring to the firm’s Moscow office in 1995, where he advised on corporate finance and international securities issues. In 1998, he joined Credit Suisse as General Counsel for its Emerging Markets Group where he worked extensively with Russian and CIS borrowers and international investors. Between 1997 and 2010, he held senior positions at Credit Suisse First Boston and Merrill Lynch and was CEO of Troika Dialog’s Kazakhstan office. Mr Turnbull has an M.A. in Law from St. John’s College, Cambridge University.
Kevin van Wouw, CEO of Cradle Arc, commented: “We are delighted to welcome James to the Board of Cradle Arc, bringing his legal, compliance and corporate finance skillset and experience and thereby rounding out and complementing the Board’s existing financial and technical knowledge base. We firmly believe that James will provide valuable assistance with the Company’s future development, particularly as we undertake and complete the current remedial actions at the processing plant and focus on commercial growth. We would like to acknowledge our appreciation of the services of both Oscar and Michael and their valuable contributions, and wish them all the best with their future endeavours.”
About Cradle Arc
AIM-quoted Cradle Arc plc is the 60 per cent. owner of the Mowana copper mine in Botswana, an operational open pit mine and processing facility located in the north-east of the country, approximately 120km northwest of Francistown.
The Company has an independent open pit ore reserve estimate (Proved and Probable JORC 2012) of 31.8 Mt at 1.17% Cu for 370,800 tonnes contained copper, based on a Dense Media Separation (DMS) mine plan.
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