Ferrum CrescentLtd. said March 31 that its board director and Managing Director TomRevy, and company secretary Bob Hair, have resigned with immediate effect.
As part of its refocused strategy, the company has appointedJustin Tooth as executive chairman, effective immediately. Tooth was nonexecutive chairman. EvanKirby has joined the company's board as nonexecutive director.
The restructuring is intended to allow the company to focus onits principal iron ore project in northern South Africa and to progress its over the Spanish lead-zincproject through the potential acquisition of GoldQuest Iberia SL.
To this end, a decision has been made on securing an investmentpartner to enhance shareholder value from the company's Moonlight iron ore project in South Africa.