SouthernEra Resources Limited -
SouthernEra changes management
SouthernEra Resources Limited SUF
Shares issued 27,766,645 2000-03-15 close $2
Thursday Mar 16 2000
Mr. Steven Banning reports
Eric E. Kinneberg has been appointed vice-president of finance and chief financial officer, John W. Pearson has been appointed vice-president of investor relations, and Howard Bird has been promoted to vice-president of exploration. The company intends to relocate its management headquarters to Denver, Colo., to establish and increase its presence in the United States. SouthernEra will be seeking a United States stock exchange listing to enable the company to better access the pool of capital located in the United States. As a result of the appointment of new officers and relocating the management headquarters, Frank van de Water and Kim Freeman will be leaving the company.
For an interim period, all of the company's operations will report directly to Steven W. Banning, president and chief executive officer. Presently, the company is in advanced discussions with a seasoned South African mining executive who has senior management, mine development and hands-on operating experience to become vice-president of operations and chief operating officer. He will be stationed in South Africa near the company's operations.
"When I recently took over as president and CEO, one of my key priorities was to assemble a small team of highly skilled professionals. This team will focus on creating long-term shareholder value, restore market confidence in the company and help us achieve our goal of becoming one of the world's leading platinum and diamond producing companies," said Mr. Banning, SouthernEra's president and chief executive officer. "Regarding relocating the management headquarters to Denver, Colo., the reasons are twofold; the company wants to increase its presence in the United States to better access the huge pool of capital located there, and our operating expenses will be significantly less. We will increase our presence in the U.S. by seeking a listing on a U.S. equity exchange and by having a management presence in the United States. Although Toronto is recognized as the mine finance centre of Canada and North America, Denver, Colo., also has a strong mining community and is the mining center of the United States," he concluded.
Mr. Kinneberg has over 22 years experience in the mining industry. Over the past four years, he has worked as an independent consultant and contractor to various mining companies, providing precious metals marketing, business development and corporate finance services, including acting as the chief financial officer for Golden Queen Mining. Prior to that, he served eight years as treasurer of Pegasus Gold Inc., where he was responsible for the company's external financing, metal marketing and financial planning activities. Mr. Kinneberg holds a BS in metallurgical engineering and an MBA-finance from the University of Arizona.
John W. Pearson is an experienced investor relations practitioner with over 20 years of experience in the mining industry. He has held senior management positions with a number of international mining and investor relations consulting companies, including Roth Investor Relations, Inc., Pegasus Gold, LAC Minerals and Canamax Resources. His 13 years of experience in the field of investor relations is complemented by his geological expertise and more than six years of exploration experience. Mr. Pearson has an honours degree in geology from Lakehead University in Thunder Bay, Ont., where he graduated in 1981.
As part of relocating the management headquarters, Mr. Bird, newly appointed vice-president of exploration, will also be relocating to Denver. Mr. Bird has held various positions during the past several years in the SouthernEra exploration department. His many years of diamond and platinum exploration experience will serve the company well in generating the next-generation of projects.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
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