Moly Mines Limited T.MOL

Activity in the Boardroom

[OnDaBall]

Moly Mines Reports Notice of Removal and Appointment of Directors
1 hour ago - ACQUIREMEDIA
TORONTO, ONTARIO--(Marketwired - Aug. 30, 2013) - Moly Mines Limited (TSX:MOL)(ASX:MOL) (the "Company") advises that it has today received from its major shareholder, Hanlong Mining Investment Pty Ltd ("Hanlong"), a notice requisitioning a meeting of the Company's shareholders for the purpose of considering resolutions for the removal of all of the independent directors, being Messrs Michael Braham and David Craig, as well as resolutions for the appointment of Mr Bruno Camarri and on a temporary basis, Mr Peter Mansell as directors selected by Hanlong and not the Board. Hanlong owns 53.8% of the Company.
Messrs Braham and Craig have advised Hanlong and the Company that they will take steps to ensure that minority shareholders are fully informed.
The Company also reports the filing of the financial statements for the half-year ended June 30, 2013 earlier today on the ASX at www.asx.com.au and now available on SEDAR .

Mr Bruno Camarri
 
Qualifications
Bachelor of Laws, University of Western Australia and member of the Australian Institute of Company Directors.
 
Experience
Bruno has worked as a corporate lawyer since 1969, primarily representing clients in the energy, mining, construction and technology industries. He was a partner at Australian law firm Freehills (now Herbert Smith Freehills) for 30 years and now acts as a consultant with that firm.
 
 Bruno has held a number of board positions on listed and unlisted companies in the construction, manufacturing and mining industries. Previous directorships include being Deputy Chairman of UGL Ltd from 1994 to 2010 (ASX:UGL), a Director from 2002 to 2009 and the Chairman until April 2013, of LinQ Capital Ltd, the responsible entity for the LinQ Resources Fund and a Director of Bristile Ltd from 1996 to 2003.
 
 Bruno was made a member of the Order of Australia in June 2008. He is in the Australian Best Lawyers List in the specialty of mining.

[Zorro99]

I guess that we will find out soon enough as to what Hanlong is determined to do ! Now will it be GOOD or BAD for the little investor. Time will tell.......... JMHO

[OnDaBall]

I can't help thinking that these are positive moves.  The company hasn't been doing much with the two that are being ousted.  The other two (both layers) have good experience with other mining companies and I think they have good connections in the industry.  Hopefully they can accelerate the acquisition process and get the share prices up.  It seems that this is

[OnDaBall]

should read..."both LAWYERS..."