RE: New ceo
Keep him to the highlited in yellow. This is the 4th graphite Company he has tried to lead. Very good Bull**itter but when it comes to performance well maybe the 4th time is a charmer.
CALGARY, ALBERTA, Apr 30, 2013 (Marketwired via COMTEX) -- Torch River Resources Ltd. ("Torch" or the "Company") CA:TCR +133.33% (frankfurt:WNF)TORVF +4.62% , is pleased to announce that effective immediately, Mr. Paul Ogilvie, former CEO of Canada Carbon Inc., has been appointed to Chairman of the Board and CEO of Torch. Dr. William Pfaffenberger, former CEO and currently President of Torch River Resource, commented, "We are pleased to have Mr. Ogilvie as CEO and Director of our company as we begin the first step to becoming a leading carbon company".
Paul Ogilvie commented, "Over the coming months we hope to complete acquisitions of lump graphite properties, appoint a management team, and be well on our way to building a 100% pure play lump graphite company. We expect the management team in particular to be one of the best in the graphite business". The Company plans to acquire three to four lump graphite properties in Quebec with a goal to be in production within 24 months. Mr. Ogilvie went on to state: "The Company believes this near term production plan is feasible as lump projects typically have low capital requirements when being brought into production. Lump graphite, like that mined in Sri Lanka, is typically found in very high grade veins and can be produced in some cases almost as a finished customer-ready product. As such, we are confident the property acquisitions we intend to complete will be timed perfectly to undertake a broad sampling, mapping and exploration program this summer".