Lionsgold, the gold-focused exploration company with assets in India and Finland, and a financial technology subsidiary that provides online accounts for holding physical gold, announces that Alan Davies has agreed to become its global strategy consultant.
Alan Davies is the former chief executive of Energy & Minerals at Rio Tinto. He has more than 20 years' experience in operational and strategic development in the global mining industry, including having been chief executive of Diamonds & Minerals at Rio Tinto, and CFO of Rio Tinto Iron Ore.
Alan Davies is deeply experienced in India, having had executive responsibility for Rio Tinto in India for approximately eight years, and over 10 years of direct project responsibility in India. He is a British and Australian citizen and former non-executive director of Rolls Royce Holdings.
He is currently CEO of Moxico Resources, a natural resources company targeting a public market listing in 2018, and non-executive director of ASX-listed Global Geoscience Ltd. Alan Davies holds a Bachelor of Business, Bachelor of Laws, a Master of Laws and is a Fellow of the Chartered Accountants in Australia and New Zealand.
Mr. Davies has agreed to work with Lionsgold on a part-time basis averaging two business days per month under an initial 12-month contract and the company has agreed to remunerate him through the issue of 5 million new ordinary Lionsgold shares and warrants to subscribe for 5 million ordinary shares with a 5-year term, of which 2.5 million are exercisable at 1.1p each and 2.5 million are exercisable at 2.2p each.
Lionsgold CEO Cameron Parry said, "I am delighted to announce that Alan Davies has agreed to work with Lionsgold to help fulfil the potential of its projects. Alan shall contribute to Lion at a strategic level as the company endeavours to maximise its current interests in India as well as future allied commercial opportunities in other jurisdictions, both with his extensive experience in mining and in line with Lionsgold's plan to release Goldbloc into the Indian market in the second half of 2018."
Alan Davies said, "I believe Lionsgold shall prove to be in an enviable position as the only AIM-quoted company with substantial exposure to India's mining industry, a market I know well and that I believe has massive potential over the coming years and decades.
"I plan to help develop Liongold's opportunities inside and outside of India, and assist in the growth of their business model of combining the exploration and production of gold with initiatives for its retail application."
Application will be made to the London Stock Exchange for the 5 million new shares to be admitted to trading on AIM, on or around or around November 15.