EANS-News: Tantalus Rare Earths AG Appointment of Directors and Operational
Update
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Strategic management decisions
Grünwald (euro adhoc) - Tantalus Rare Earths AG
("Tantalus Rare Earths") or ("the company")
Appointment of Directors and Operational Update
Gruenwald 22 October 2012 - Tantalus Rare Earths AG ("TRE"), the explorer and
developer of a large near surface rare earths project in north western
Madagascar, today announces the appointment of new supervisory board members and
provides an update on its operational and corporate activities.
Highlights
- A general meeting of shareholders has confirmed the appointment of Prof.
Dr. Ernst A. Brugger, Ian Hannam, Ulrich Krauskopf and Thomas Hoyer as new
supervisory board members.
- Prof. Dr. Brugger elected Chairman of the supervisory board.
- A prospectus is being prepared for transferring the listing of TRE to a
more senior German exchange.
- Exploration activities accelerating and environmental impact studies to
commence.
TRE's recently appointed CEO Juergen Schillinger said: "The Company is proud to
have attracted a high calibre supervisory board with the track record and
expertise to oversee the transformation of the company from explorer to rare
earths producer.
"The management of TRE looks forward to working with the supervisory board in
accelerating exploration and development of the tantalus deposit as well as
commencing the environmental and social impact studies required ahead of mine
development."
Mr Schillinger worked until 2011 as a Senoir Portfolio Manager at Union
Investment, one of the leading asset managers in Europe ,where he managed
directly or indirectly an investment volume of more than Eur 7 billion.
He thanked also the outgoing management board members Ivan Murphy, Philip Gray,
Paul Richards, Lee Goldsmith, Wolfgang Hampel and André Klupsch who had
submitted their resignations at the end of the Annual General Meeting.
Details of the new supervisory board members are as follows:
Prof. Dr. Ernst A. Brugger (Chairman)
Prof. Dr. Ernst A. Brugger is president of the board of directors of BHP-Brugger
and Partners Ltd, a Zurich-based strategy consultancy specialising in economic
sustainability. As initiator of The Sustainability Forum Zürich and the Energy
Trialog Switzerland, the consultancy focuses on the practical implementation of
sustainability principles in the economy, society and politics. He holds a PhD
in economic geography from the University of Zurich and over the past 25 years
has been a consultant to businesses and institutions in Europe, Latin America,
Africa and Asia. He is the chairman of the board of directors of SV Group AG,
BlueOrchard Finance and Precious Woods Holding, as well as a non-executive
director of numerous companies, including BG Bonnard & Gardel Holding S.A. and
the World Microfinance Forum Geneva (WMFG). In addition, he is president of the
foundation board of sanu and honorary member of the Committee of the Red Cross
(ICRC).
Ian Hannam
Ian Hannam is an respected investment banker with more than 30 years experience
in capital markets and resource financing. He has been involved in almost 300
corporate transactions involving investments in more than 40 countries. He was
instrumental in the development of the capital market units of Salomon Brothers
and later JP Morgan and since 1997 has advised major companies, including 12
IPOs where the company's have been included in the FTSE 100. In April 2012, Mr.
Hannam resigned from his position as Chairman of Global Capital Markets at JP
Morgan to puruse other interests.
Thomas Hoyer
Thomas Hoyer is CEO of Ruukki Group, joining the company in 2009 as CEO of the
now divested wood processing division. He was responsible for turning around
the division and for the successful sale of five subsidiaries valued at over Eur
100 million. In October 2010 he was promoted to Group CFO and in May 2011 to
Group Chief Executive Officer. Prior to joining Ruukki, he held a number of
senior management positions in portfolio management, private equity and finance
at Allianz, Bank am Bellevue, Invision and Aldata Solution.
Ulrich Krauskopf
Mr. Krauskopf is the founder, chairman and CEO of Metal Resources Trading Inc, a
US materials handling and industrial metals trading company. Before founding
Metal Resources Trading, Mr. Krauskopf has held several significant senior
management positions with ELG Haniel Trading Corp., Lazarus Metal Resources
Group and Metallgesellschaft AG.
Corporate and Operational Update
Mr Schillinger is pleased to advise that TRE's management and the supervisory
board has jointly decided to proceed with the preparation of prospectus to
continue the listing of the Companys shares at an German exchange.
At the same time, management has recommended a significant expansion of
exploration activities at the Tantalus deposit, with a plan to increase sampling
per year with a concurrent expansion of its JORC compliant resources. Budgets
and proposals for funding this expansion are currently being assessed.
The results of approximately 3,000 samples from drilling undertaken this year
have been received in recent days, and a further 3,000 results remain
outstanding. Assessment of these results is under way with analysis expected to
be completed during the quater.
The Company has also agreed to proceed with environmental and social impact
assessments on the Tantalus project, and these activities which are essential
precursors to the granting of a mining licence, will be co-ordinated by
Supervisory Board Chairman Prof. Dr. Ernst A. Brugger.
Contact:
Juergen Schillinger
Tantalus Rare Earths AG
Northern Münchner Str 16
82031 Grünwald / Germany
Tel: +49 66 89963960
Further inquiry note:
Für weitere Informationen kontaktieren Sie bitte:
Juergen Schillinger, Chief Executive Officier
Tel: +49 (0) 89 693 960 66
Email: schillinger@tre-ag.com
David Rigoll, Director
Tel: +44 7500 068555
Email: rigoll@tre-ag.com
Paul Weigh
Blythe Weigh Communications
Tel: +44 (0) 20 71383204
oder +44 (0) 7989 129658
end of announcement euro adhoc
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company: Tantalus Rare Earths AG
Nördliche Münchner Str. 16 12
D-82031 Grünwald
phone: +49 (0)89 693 960 66
FAX: +49 (0)89 693 960 68
mail: contact [at] tre-ag.com
WWW: http://www.tre-ag.com
sector: Holding companies
ISIN: DE000A0SMSL4, DE000A1KRQE7
indexes:
stockmarkets: Open Market / Entry Standard: Frankfurt
language: English