ECR Minerals PLC (AIM: ECR) chief operating officer Mike Whitlow discusses additional results from the company’s drilling programme at the Davey Road site at Creswick as well as the current campaign at Kuboid Hill.
Meanwhile David Tang has stepped down as chairman while Nick Tulloch has been appointed chairman in his place, in addition to his role as executive director. David will remain on the board as a non-executive director.
David Tang, Non-Executive Director, said: “I suggested to the board that the time was right for me to hand over the chairmanship of our Company and, with the endorsement of the other non-executive directors, I have asked Nick to take on the role. We have spoken a lot about the change in pace and change in approach since Nick and Mike joined ECR last September and I am sure it is apparent to investors that it is Nick and Mike leading the strategic direction of the Company and liaising with our counterparties. I am delighted that Nick has accepted this role at ECR.”
Nick Tulloch, Chairman, said: “My thanks to David who has led ECR through a very challenging period with great diligence and commitment. I was honoured that he asked me to take over as Chairman. We have been implementing a number of changes to ECR in recent months and there is still a great deal to accomplish. As we move into this next phase, I am pleased that we will continue to benefit from David’s wise counsel and detailed knowledge of our operations.”
The Directors recognise that Nick Tulloch’s appointment as Chairman alongside his ongoing responsibilities as an executive director is not in line with the QCA Corporate Governance Code but consider that given the current size and stage of development of ECR, and Nick’s experience, it is in the best interests of all stakeholders for him to take up this position. The Directors further note that a considerable amount of the operational responsibilities of the Company are carried out by Mike Whitlow, COO. At the same time, Trevor Davenport has been appointed Senior Independent Director of the Company.
