Gulf Minerals? CEO announces retirement
Thursday, April 9 2015 - 11:26 AM WIB
ASX-listed Gulf Minerals Corporation Limited (GMC) announced on Tuesday that Bruce Morrin, Technical Director and CEO has announced retirement.
Bruce has been an integral part of the transformation of Gulf Minerals from a moribund listed company to a restructured group with a sound business plan to develop an Indonesian premium alloy producer. The company recently announced it had entered into Terms Sheet to provide US $20 millino in funding.
Bruce commented: "With Gulf now well established in its business plan, potential funding in place and soon to be completed Indonesian approvals the time is right to step down and take life a little easier"
Gulf's Chairman, Graham Anderson, commented: "Bruce is a thorough gentleman, well respected by all who comes into contact with him and we are most sad that he is retiring but certainly understand his wishes for a quieter time as Gulf moves into full pace in the development of our project. On behalf of the Board and Shareholders I express our gratitude to his excellent service to the company."
Graham will assume the role of Executive Chairman until the company appoints a CEO.
Gulf has proposed to build manganese smelter at Kupang, West Timor, which will produce ferromanganese alloy products with a premium quality of 78 percent.
Editing by Johannes Simbolon