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KEFI Minerals reshuffling board for development of Tulu Kapi project

KEFI Minerals Plcis restructuring its board as it transitions toward gold production at its project in Ethiopia.

Mark Wellesley-Wood will join as a nonexecutive director, andalso serve as chairman of the newly created technical review committee, accordingto the July 13 statement.

The deputy chairman and senior independent director roles willpass from Ian Plimer to Wellesley-Wood as from January 2017. Plimer will serve aschairman of the newly created exploration review committee.

Jeff Rayner will step down from the board to focus on a morefree-ranging role to identify value adding opportunities for KEFI's next stage ofdevelopment.

John Leach will join the senior executive team as finance director.

In total, the board will comprise two executive directors — ExecutiveChairman Harry Anagnostaras-Adams and Leach, and three nonexecutive directors —Norman Ling, Plimer and Wellesley-Wood.

In June, KEFI replaced the preferred engineering, procurementand construction contractor for Tulu Kapi with Lycopodium Ltd. as its makes the financial termsbetter and it has committed to adhere to the current timetable.