News blog

African Mining & Exploration

  • BY: Andrew Hore |
  • POSTED: 06/02/2013 |

Fiske and Praetorian Resources have forced board changes at Mali-focused explorer African Mining & Exploration (AME) as part of a plan to cut the company’s costs.

The two companies together own 32.5% of AME - Fiske 12.4% and Praetorian 20.1%. Stephen Oke, Roger Williams and Douglas Chikohora have resigned from the board. Chief executive Mark Jones stays in his job.

Consultant and 4.8% shareholder Professor Mike Johnson joins the board as chairman, while Charles Cannon-Brookes will be the board nominee for Praetorian and Clive Harrison board nominee for Fiske. The three men will each receive a fee of £1 a year.

AME’s main interest is the Kossanto project in the centre of the prospective Kenieba inlier in Western Mali.

At 4p a share, AME is valued at £3.37m. The company raised £5m gross at 10p a share when it joined Aim on 1 November 2010.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2013_40.pdf

© 2023 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds