Mineral development company Strike Resources Ltd
(ASX:SRK) is on the look-out for a new chairman after Dr John Stephenson advised the company that he intends to step down from the role.
The news comes after the company met to conduct a strategic review of its plans, projects and operations moving forward.
Mr Stephenson will remain on the board as a non-executive director.
The board says it has commenced a formal selection process to find a replacement.
Strike Resources also says that its primary focus remains in the development of the Apurimac Iron Ore Project through its interest in Peruvian company Apurimac Ferrum S.A.
The company halted exploration and development of the project after a dispute between Apurimac Ferrum shareholders, which has now been settled, and uncertainties in capital and resources markets.
Looking back over the past five years Strike Resources only net profit was in 2007.
