Strategic Minerals appoints to its Board, John Peters as Executive Director (acting Chairman) and Michael Wong as Non-Executive Director

– UK – Strategic Minerals plc (AIM: SML; USOTC:SMCDY) is pleased to announce the appointments of Mr John Peters as Executive Director (acting Chairman) and Mr Michael Wong as a Non-Executive Director of the Company, with immediate effect. These appointments have been made to support the Company’s decision to accelerate its acquisition growth strategy. Both Mr Peters and Mr Wong have a strong background in mergers and acquisitions in the mining sector, and are knowledgeable of numerous, lower risk, advanced stage “farm in” and/or acquisition opportunities, which may form the foundations of a regional play in North America.

In addition, Mr Peters has been actively involved in assessing the Heavy Dense Media market and opportunities for magnetite products to be used by Electric Arc Furnaces (“EAF”). He sees the growth opportunities in the EAF market and the synergistic benefits it offers for realising additional value from the Company’s Cobre operation.

John Peters FCPA, FFINSIA, 57, is a CEO with over 30 years’ corporate finance experience at senior levels. His expertise crosses a number of industries including natural resources, and he is experienced in publically listed companies on the AIM and ASX stock exchanges.  He was the CEO of Ebony Iron Pty Ltd., negotiated the acquisition of the rights to the Cobre magnetite stockpile and was also involved in the merger with Strategic Minerals Plc. From his experience managing over £7bn of investment funds for the Commonwealth Bank of Australia, he understands capital raising, mergers and acquisitions and how they are perceived by professional investors.  He is experienced in acquisition strategies, mining project evaluation, commercial agreements, statutory and management reporting and compliance and governance obligations of public companies. 

Michael Wong BEc (Sydney University), CA (formerly), 56, has over 25 years’ experience specialising in mergers, acquisitions and private equity with a number of leading international investment banks (Bain & Co, CIBC Wood Grundy, Standard Chartered, Merrill Lynch and Commonwealth Bank of Australia). Michael was also a registered representative (series 7 SEC) for US securities and has spent a considerable amount of his time in Asia developing a wide network of contacts.  Since 2000, Michael established the Southland Group specialising in funding arrangement (debt and listed and unlisted equity), corporate advice (M&A), and management consulting.  He has served on a number of listed and unlisted boards in Australia and has, for the past four years, focused on the natural resources sector.   

In addition, Mr Julien McInally, Executive Chairman of Strategic Minerals, has resigned from the Board to pursue other business interests with immediate effect, and has agreed to contract his services to the Company fulfilling the Chief Financial Officer role.  The Board extends its greatest thanks to Mr McInally for successfully overseeing a significant reduction in overhead costs and repositioning the Company’s Cobre asset, with a focus on domestic sales.  The new Board looks forward to working closely with Mr McInally in his new role. Simultaneously, Mr Lyle Hobbs will move to Non-Executive director of the Company.

Mr John Peters said: “The addition of Mr Wong and myself provides the Company with the added transactional capacity and contacts in natural resources to assist with its growth ambitions. Shareholders have strongly indicated that they wish to see the Company undertake value added “farm in”/acquisitions and my goal is to see such transactions occur sooner rather than later. I look forward to making a valuable contribution in that regard, and to working with the team.”

The Company continues to review its board structure and expects to appoint an additional Non Executive UK Director in due course.

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