Western Australian iron ore and nickel explorer, Condor Nickel Ltd (ASX:CNR) today appointed resource specialist investment banker, Mr Robert Schuitema, to the Board of Directors as it continues to strengthen its management team.
Mr Schuitema has held high-level positions with some of the largest resource financing houses
internationally, including Chase Manhattan Bank and JP MorganChase.
Condor interim Chairman Dr Brian Martin said Mr Schuitema’s experience in advising resource
companies with projects of varying scales in relation to their finance requirements will be very valuable to Condor as it assesses, with a view to commercialising, its iron ore deposit as well as its manganese and nickel opportunities.
“Mr Schuitema’s accountancy and governance experience will also build on the Board’s desire to
exceed best practice in these areas,” Dr Martin said.
“Condor is in the process of establishing a senior executive team in order to add depth to
management and to carry out its goals.”
“This will continue the Company’s strategy which was recently commenced with the appointment of
Mr Laurence Freedman AM to the Board.”
“Condor holds an attractive asset base of iron ore, manganese and nickel targets,” he said.
“The Company is well-positioned with cash at bank of over $4 million, with no debt, as it continues to explore its iron ore targets located 450 kilometres north of Kalgoorlie.”
“Recent exploration the Company’s Dingo Range target, confirmed the presence of significant iron enrichment in surface gravels and rock outcrops over a strike distance of approximately 40
“The Dingo Range tenements are now the focus of the Company’s drilling activity to assess if sufficient
quantity of deposit exists to be ‘Direct Shipping Ore’, which does not require significant processing.”