Press announcement yesterday. Hotcopper can be forgiven for not...

Press announcement yesterday. Hotcopper can be forgiven for not posting it yet. Not immediately positive news on the face of it, but it may hopefully be the start of something positive.

Mr Li Xiaoming, who lives in Beijing and has majority control of the Chinese Companies that in turn have 449,740,173 GCR shares and a pile of March 2011 options in GCR, is currently a non-executive director of GCR.

Mr Li Xiaoming has appointed his nephew Mr Li Yan as his ALTERNATE DIRECTOR.

Thus Mr Steven Xiao, as the third nominated director and who resigned recently, has yet to be replaced.

Clearly Mr Li Xiaoming is the most important director of GCR going forward and hopefully this will be the start of some actions to remove the "geologists club" who have taken this company nowhere at a great cost to small suffering shareholders.