Ord River Resources: positive board transition along with new initiatives on the horizon
Friday, May 04, 2012 by John Phillips
Ord River Resources (ASX: ORD) in a positive initiative for the company is starting a review of corporate strategy and projects to advance to the next level.
Peter Shou, managing director, has resigned due to personal reasons, with the board thanking Shou for the tremendous contributions he made to the company since joining in early 2009.
Under Shou's leadership, Ord River continued to develop its various projects and raised necessary capital in difficult financial market conditions, while also succeeding in restructuring the company’s cost structure and improved the company’s financial position.
Ord River said that Shou was instrumental in the advancement of SARCO project in Laos, where the resource was recently upgraded. In another transition, Frank Zhu will move from executive director to solely as company secretary.
The board said that it assures shareholders and the market that it is working hard to ensure a smooth transition and continue to advance the company's projects.
Ord River delivers JORC Resource upgrade at bauxite and alumina project: Highlighting some of Ord River's recent achievements, just last month the company delivered a 73.8% increase in the JORC Resource for the bauxite and alumina project in Laos, with a Bankable Feasibility Study the next step in progressing the project.----------
