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Siburan Resources appoints Hao Ming Peng as executive director

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Siburan Resources (ASX: SBU) has appointed Hao Ming Peng as an executive director following the completion of a $3 million placement in June to China’s Hunan Australia Mining.

Peng will assist Siburan’s finance and administration department in a corporate and administrative capacity.

Hunan Australia Mining is a wholly owned subsidiary of the Hunan Province Zhonghe Mining Industry Development Co, which is owned by a China State Government enterprise.

The company now holds a 19.9% stake in Siburan following the issue of 20.6 million shares at $0.15 each.

The partnership with Hunan could see Siburan fast track it Kirwans Tungsten Project in New Zealand.

The Kirwans project is highly prospective for tungsten and gold, with historical drilling intersections including 15 metres at 0.13% tungsten from 4 metres, 15 metres at 0.13% tungsten from 14 metres, and 5 metres at 0.15% tungsten from 33 metres.


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