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Black Fire Minerals changes guard with Mick Billings investor group

Last updated: 04:43 18 Dec 2012 GMT, First published: 05:43 18 Dec 2012 GMT

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Black Fire Minerals (ASX: BFE) has announced that subsequent to a meeting of the Board of Black Fire on the 17th December 2012, directors Mr Anthony Baillieu, Mr Simon Rigby, Mr Mike Chester and Mr Mick Clifford have all resigned with immediate effect.

The Black Fire news release said that these resignations are a result of the inability of the Board to secure agreement with particular major shareholder groups regarding the strategic direction of the Company.

Mr Rigby has agreed to continue employment for a period of up to 3 months to ensure a smooth transition between the outgoing and incoming Boards and Management teams.

New directors of the Company have been retained including Non‐Executive Director and Chairman Mr Mick Billing, Non‐Executive Director Mr Matthew Sheldrick and Non‐Executive Director Mr Martin Green.

The new Board wishes to confirm its commitment to developing the Company’s existing suite of projects, in particular the Pilot Mountain Tungsten – Copper Project located in Nevada, USA and also the Kangeshi Copper – Silver Project located in the DRC and will look to make further announcements in this regard, when appropriate.


Biographies of the new directors

Mick Billing has over 35 years of mining industry experience and a background in finance, specialising in recent years in assisting in the establishment and management of junior companies to the position where they can be sustainable businesses.

His career includes lengthy periods with Bougainville Copper Ltd and WMC Resources Ltd. He has worked extensively with junior resource companies since the late 1990’s.

He is currently Chairman and CEO of Thor Mining PLC, an ASX and AIM listed company with exploration projects in Australia, and a director of Southern Gold Limited an ASX listed company with exploration projects in Australia and Cambodia.

Martin Green holds a BA (Hons) in Accounting & Finance from the University of West of England (Bristol) and qualified as a Chartered Accountant with Ernst & Young in London before joining their Corporate
Finance Division.

He continued his career with Ernst & Young Corporate Finance in Australia before joining Consolidated Press Holdings ("CPH") in 1999. During his more than 10 years with CPH he undertook various tasks including sourcing deals, deal analysis & execution and ongoing
management of a wide range of investments for the Group. Martin is now resident in Hong Kong.

Matthew Sheldrick holds a Bachelor of Commerce Degree from the University of Western Australia and is a qualified Chartered Accountant.

Matthew has over 25 years experience in the securities, finance and corporate advisory industries, with particular emphasis in the resources and energy sectors. He has founded a number of ASX listed companies, and has been involved in the growth of these companies by way of mergers and acquisitions.

Matthew was a founding director of Black Fire Minerals Ltd, having resigned that position in November 2010. He is currently the Non‐Executive Chairman of Vesuvius Minerals Ltd and has also previously acted for a number of public and ASX listed companies in a variety of executive and non‐executive roles.

 

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