- Cape Lambert Resources (CFE) has appointed Terry Donnelly as Non-Executive Chairman, effective immediately
- Further, Mark Hancock has resigned as Non-Executive Director of the company, also effective immediately
- In addition to the appointment, Cape Lambert has announced its intentions to undertake a placement to raise up to $1 million
- The company will use the money for general working capital purposes
- Cape Lambert has ended the day 33.3 per cent in the red with shares trading for 0.2 cents each
Cape Lambert Resources (CFE) has appointed Terry Donnelly as Non-Executive Chairman, effective immediately.
Terry began his career in the banking industry, becoming a management consultant in due course, specialising in export marketing in Europe, Japan, Africa, and the Middle East.
Throughout the mid-1990s, he migrated to the finance and investment sector, with a focus on the mining of precious metals in Australia, Europe and Africa.
Further, Mark Hancock has resigned as Non-Executive Director of the company, also effective immediately.
“We are delighted to welcome Terry to the board, his wealth of experience and know-how will assist in the management and development of the company,” Executive Director Tony Sage said.
“Further, we look forward to the lifting of global restrictions that should enable us to continue to work on our projects,” he added.
Placement
In addition to the appointment, Cape Lambert has announced its intentions to undertake a placement to raise up to $1 million with the money planned to be used for general working capital purposes.
The company shares will mainly be issued to Australian and international investors at a price of 0.17 cents each.
Cape Lambert has ended the day 33.3 per cent in the red with shares trading for 0.2 cents each in a $5.210 million market cap.