Mr. Owen Ryan reports
PLAINS CREEK PHOSPHATE ANNOUNCES THE APPOINTMENT OF OWEN RYAN AS EXECUTIVE CHAIRMAN
The board of directors of Plains Creek
Phosphate Corp. has appointed Owen Ryan as a new additional
director, executive chairman, interim president and chief executive officer, with immediate
effect. Glenn Laing and Carson Phillips have stepped down from their
executive positions and will not be seeking re-election at the next
annual general meeting of shareholders, which is scheduled for March 7,
2013. Mr. Laing has entered into a consultancy agreement with the company
to provide advisory services as and when requested.
Mr. Ryan brings to Plains Creek extensive experience as a senior-level
mining executive. Previous roles include head of group business
development for Anglo American PLC in London, head of global mining
research and sales at UBS Investment Bank in London, and head of mining
and commodity research at Old Mutual Asset Management in Cape Town,
South Africa. Mr. Ryan was recently a non-executive director of
Toronto Stock Exchange-listed Western Coal Corp. He is currently a non-executive
director of Mongolia Minerals Corp., an unlisted Canadian public
Mr. Ryan is respectively a partner and director of London-based Scarab
Capital Partners LLP and Scarab Investments Ltd. He is also a founding
shareholder and chairman of Alameda Minerals Ltd., a Chile-based mining
exploration and development junior. Mr. Ryan holds a bachelor of science in civil
engineering and a master of business administration, both from the University of Cape Town.
Mr. Ryan stated: "I look forward to the challenge of leading this junior
phosphate mining company into its next phase of development. The
company has completed a bankable feasibility study establishing a
proven phosphate reserve with world-class potential that deserves to be
brought rapidly into production. We have a core of strong shareholders
who currently support this vision, and I look forward to building value
for all shareholders and stakeholders."
The board is currently in the process of examining its strategic
alternatives including restructuring and refinancing the company. It is
the intention of the board that should any shareholder approvals be
required in this respect, these will be sought at the AGM on the March
We seek Safe Harbor.
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