Aldoro Resources Ltd (ASX:ARN) has appointed one of its largest shareholders, Liqun (Quinn) Li, as executive chairwoman of the company effective November 1, 2024.
Li is a corporate executive with more than 20 years of experience in the resources and development sectors.
She has considerable expertise in asset divestment and project financing having led a number of significant asset sales on behalf of listed companies which ensured appropriate value recognition for shareholders.
The appointment as executive chairwoman follows Li's appointment to the company board on April 9, 2024.
Strong progress
In the seven months she has overseen the successful licence renewal of the flagship Kameelburg Niobium-REE project, bolstered the funding position and rewarded shareholders with a loyalty option issue.
During this time Aldoro has also purchased a fleet of drilling rigs in preparation for the maiden drilling program at Kameelburg, which is expected to commence in the current quarter.
Dr Minlu Fu and Edwin Bulseco remain on the Aldoro board as non-executive directors.
To allow for strengthened alignment of the board’s objectives and shareholder return the company intends to seek shareholder approval for the issue of incentive securities at the forthcoming AGM to be held on November 29, 2024.