Galaxy Resources Limited: Appoints Mr Ivo Polovineo As An Independent Non Executive Director
20.07.2010 | ABN Newswire
09:52 AEST July 20, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (ASX: GXY) (PINK: GALXF), is pleased to announce the appointment of Mr Ivo Polovineo as an Independent Non Executive Director effective immediately.
Mr Polovineo was previously Chief Financial Officer and Company Secretary for Sino Gold Mining Limited, formerly an ASX 100 company.
Mr Polovineo was with Sino Gold for 12 years forming part of the executive team that built the company from a market capitalisation of A$100m before it was acquired by Eldorado Gold Corporation (TSE: ELD) (NYSE: EGO) in December 2009 for approximately A$2.4 billion.
Given Sino Gold developed and operated three gold mining operations in the Peoples Republic of China, Mr Polovineo is highly familiar with the cultural requirements for an Australian company doing business in China. He also played an instrumental role in Sino Gold's dual listing on the Hong Kong Stock Exchange in 2007.
Mr Polovineo is a Professional Member of National Institute of Accountants (PNA) with more than 30 years experience as a CFO and Company Secretary including over 20 years in the resources sector.
Galaxy Resources Chairman, Mr Craig Readhead, said that the Company is very pleased to appoint a director of Mr Polovineo's calibre, particularly with his extensive experience and skills with regard to doing business in China and Hong Kong.
'Mr Polovineo will strengthen the Galaxy Board and provide an additional independent director as we finalise our development plans at Mt Cattlin and Jiangsu,'Mr Readhead said.
About Galaxy Resources Limited:
Galaxy Resources (ASX: GXY) is an emerging mining and chemical company focusing on lithium and tantalum production. Galaxy is at an advanced stage of developing its Mt Cattlin Lithium Project (hard rock spodumene) in Ravensthorpe, Western Australia. The Project encompasses a mine and minerals plant which will produce 137,000 tpa of 6% Li2O spodumene concentrate. Galaxy intends to add value to the Mt Cattlin Project by establishing its own downstream lithium processing facilities in China.
The Company is finalising plans to establish a lithium carbonate chemical facility in Jiangsu Province, producing 17,000 tpa of lithium carbonate.
Contact:
Iggy Tan
Managing Director
Galaxy Resources Limited
Tel: +61-8-9215-1700
Mob: +61-419-046-397