31st Dec 2013 09:44
LONDON (Alliance News) - Sula Iron & Gold PLC Tuesday said it has appointed Andrew Dacey as non-executive Technical Director with immediate effect.
The multi-commodity exploration company with operations in Sierra Leone said Gareth O'Donovan, who served as the company's non-executive Technical Director will step down from the board in order to focus on other commitments.
Sula said that Dacey will focus his activities on the development of the company's wholly owned 153 square kilometre Ferensola Project in Sierra Leone, which proposes to be highly prospective for both iron and gold.
The company also announced that it has issued 2,807,134 new shares in the capital of the company in settlement of all remaining outstanding loans and fees totalling GBP56,142.68 owed by the company at a share price of 2 pence per new share.
Sula Iron & Gold shares were up 15.2% to 3.60 pence, putting them in the top five AIM movers Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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