Galaxy Resources Limited (ASX:GXY) Appoints Mr Ivo Polovineo As An Independent Non Executive Director
Perth, July 20, 2010 AEST (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (
ASX:GXY) (PINK:GALXF), is pleased to announce the appointment of Mr Ivo Polovineo as an Independent Non Executive Director effective immediately.
Mr Polovineo was previously Chief Financial Officer and Company Secretary for Sino Gold Mining Limited, formerly an ASX 100 company.
Mr Polovineo was with Sino Gold for 12 years forming part of the executive team that built the company from a market capitalisation of A$100m before it was acquired by Eldorado Gold Corporation (TSE:ELD) (NYSE:EGO) in December 2009 for approximately A$2.4 billion.
Given Sino Gold developed and operated three gold mining operations in the Peoples Republic of China, Mr Polovineo is highly familiar with the cultural requirements for an Australian company doing business in China. He also played an instrumental role in Sino Gold's dual listing on the Hong Kong Stock Exchange in 2007.
Mr Polovineo is a Professional Member of National Institute of Accountants (PNA) with more than 30 years experience as a CFO and Company Secretary including over 20 years in the resources sector.
Galaxy Resources Chairman, Mr Craig Readhead, said that the Company is very pleased to appoint a director of Mr Polovineo's calibre, particularly with his extensive experience and skills with regard to doing business in China and Hong Kong.
"Mr Polovineo will strengthen the Galaxy Board and provide an additional independent director as we finalise our development plans at Mt Cattlin and Jiangsu,"Mr Readhead said.
About Galaxy Resources Limited
Galaxy Resources Limited (ASX:GXY) (OTCMKTS:GALXF) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada.
Galaxy is advancing plans to develop the Sal de Vida lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent potential as a low cost brine-based lithium carbonate production facility.
Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products.
| ||
|
