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Sula Iron & Gold appoints former SRK consultant to the board

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Sula Iron & Gold (LON:SULA), the exploration and development company focused on iron ore, gold and coltan, has appointed Howard Baker as a non-executive director.

Baker is a geologist with more than 20 years' experience in the mining industry, and joins the board of the Sierra Leone-focused firm with immediate effect.

From 2007 to 2015, Baker was a principle consultant and practice leader at SRK Consulting, during which time he was responsible for numerous mineral resource estimates, including being the named competent person on the iron ore estimate at Sula's Ferensola iron ore project. 

Baker will be granted warrants to subscribe for 2mln Sula shares at 1.375p a share, the company revealed, with the exercising of those warrants subject to certain conditions.

Following the issue of the Warrants, there will be 88.2mln  warrants and options in issue, representing 24.7% of the company's existing ordinary share capital.

Nick Warrell, chief executive officer of Sula, said Baker's  significant expertise and experience would prove invaluable to the company as it moves ahead with the development of the Ferensola Licence area.

Shares in Sula were off 0.1p at 1.25p in mid-morning trading.

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