Ram Resources adds to board with new non-executive director, appoints acting MD

Ram Resources (ASX: RMR) has appointed James Scott as a non-executive director of the company and boosted non-executive director James Lumley to the position of acting managing director.

Lumley replaces Michael Drew who resigned his position as a director of the company.

Scott has more than 30 years experience in the corporate management and investment field in Australia, South Africa, United Kingdom and United States.

He is a joint founder and director of Perth-based corporate advisory firm Glen Oaks, which specialises in the sourcing of global investment opportunities, capital raisings and IPO listings.

From 1987 to 2010, Scott held directorships with Fergusson Bros. (now Investec Securities), Societe Generale, Magnum Global Funds, Patersons Corporate Finance and Carmichael Corporate Finance.

Scott’s appointment comes as Ram prepares to deliver a maiden Resource for the Aries Prospect, part of the Motzfeldt Project, in South Greenland.

Earlier this month Ram confirmed long, high grade intersections in all holes drilled, with results of 44 metres at 2,067 parts per million (ppm) niobium, 246ppm tantalum, 4,900ppm total rare earth oxides and 9,475ppm zirconium.

Adding to the prospect’s potential, drilling also unexpectedly returned high grade mineralisation beneath an area covered by snowfields that has not been previously mapped or sampled.

Ram is anticipating the completion of a maiden Inferred Resource for the Aries Prospect, which is being compiled by SRK Consulting, this month.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24723/ram-resources-adds-to-board-with-new-non-executive-director-appoints-acting-md-24723.html