Minco (AIM:MIO) today announces that John Teeling and Jim Finn have resigned as
Non-Executive Directors of the Company, reducing the total number of Directors
to five, with two Non-Executives.
John Teeling was the founder of Minco and its predecessor company, Irish Marine
Oil plc, serving as Chairman until 2004 and, together with Jim Finn who was
previously Finance Director and Secretary, played a key part in building the
Company. John had previously retired as Chairman of Minco, because of his
numerous other directorships and interests in other resource companies,
including other Irish mineral exploration ventures, and had previously indicated
his intention to retire from the Board at an appropriate time. Both John Teeling
and Jim Finn continue to hold significant shareholdings in the Company.
Minco's Irish mineral exploration interests, primarily a joint venture with
Falconbridge, are managed by Terence McKillen from Toronto where he is also
responsible for the Company's Exploration and Business Development activities in
Mexico.
Minco is a mineral exploration and development company with projects in Mexico
and Ireland and is also evaluating other acquisitions and opportunities.
Roger Turner, CEO, stated "John and Jim indicated that they wanted to
concentrate their efforts on their other natural resource interests for some
months and it was agreed at a Board Meeting on 29 December that this would be an
appropriate time for them to step down. They remain supportive and I would like
to express, on behalf of the Board, our thanks for the many years service and
wish them both best wishes for 2006."
Contacts:
Roger Turner +44 (0)7739 092813
Terence McKillen + (001) 416 362 8243
Danesh Varma +44 (0) 7397 8150
Martin Eales, Collins Stewart Limited +44 (0)20 7523 8320
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