www.gulfresources.net.au
GGulf Resources is a resource development company that creates value for shareholders through the identification, acquisition and valorisation of resource focused projects, with a particular emphasis on regions where Gulf maintains relationships that provide a strategic advantage.
With a team of experienced engineering, project management, legal, financial and resource specialists, Gulf fosters and seeks to develop projects of major significance to both the company and the countries in which Gulf operates.
Gulf Industrials appoints two new directors
Gulf Industrials (ASX: GLF) has appointed Vic Fitzmaurice, the chief executive officer, as an executive director and Mike Brook as non‐executive director, effective from 7 January 2011.
Fitzmaurice has over 20 years experience working as a mining engineer in Australia and Africa. His previous experience includes working with BHP Billiton (Glencore), De Beers and Aquarius Platinum.
Fitzmaurice has been with Gulf since 2008 and contributed to the recommissioning of the Namekara Vermiculite Mine in Uganda.
Brook has 30 years experience as a mine geologist and resource analyst, specialising in emerging resource companies in the gold, base metal and mineral sands sectors.
In 2001 Brook joined Lion Selection Group, a mining investment company with exposure to investments made by the special purpose African Lion investments funds (African Lion, African Lion 2 and African Lion 3) and Asian Lion fund, of which he became an executive director of in 2004.
The African Lion 3 Fund is a major shareholder in Gulf and currently owns 19.8% of the issued share capital.
Gulf recently became a producer with the commencement of production at its East African Vermiculite (EAV) project in eastern Uganda.
On January 7 African Lion 3 subscribed for an further 25,000,000 shares at $0.02 per share in Gulf.
The Gulf Industrials share price has risen some 238% since a Proactive Investors research report on September 2010. GLF is currently trading at $0.045 per share.
