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Kogi Iron Ltd

Kogi Iron gains additional board expertise with election of new director

Greg Boulton, AM, has been a professional director for more than 30 years and brings financial expertise.

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Kogi aims to become a producer of cast steel product in Nigeria

Kogi Iron Ltd (ASX:KFE) has gained new expertise on its board after the election of Greg Boulton as a non-executive director at Tuesday’s annual general meeting.

The new addition has been a professional director for more than 30 years serving on public company and institution boards as a chairman and non-executive director.

As a Fellow of the Institute of Chartered Accountants and a Fellow of the Australian Society of Certified Practising Accountants, Boulton brings financial expertise to the board.

South Australian links

He is also a Fellow of the Australian Institute of Company Directors and in 2010 was appointed Member of the Order of Australia ‘For service to Australian Rules football administration, to the community of South Australia, and to business’.

Kogi chairman Ian Burston said the appointment of Mr Boulton as a non-executive director added to the strength of the Kogi board.

“We are fortunate to have someone with his expertise and experience join the company,” Burston said.

READ: Kogi Iron tests prove quality of local coal to supply Nigerian cast steel project

Kogi aims to become a producer of cast steel product that can be sold to manufacturers of steel products through development of its Agbaja Cast Steel Project in Nigeria’s Kogi state.

Nigeria has substantial domestic demand for steel products, which is currently met largely through imports.

Kogi holds a land position which covers a large part of the Agbaja Plateau.

This plateau hosts an extensive, shallow, flat-lying channel iron deposit with a JORC-compliant indicated and inferred mineral resource of 586 million tonnes with an in-situ iron grade of 41.3%.

This resource covers about 20% of the prospective plateau area within Kogi’s licences.

Considerable board experience

Among the most recent boards Boulton has served on are Statewide Superannuation Fund, K&S Corporation Ltd (ASX:KSC), Southern Gold Limited (ASX:SAU) and Kangaroo Island Plantation Timbers Ltd (ASX:KPT).

The experience gained from these boards relevant to Kogi Iron is:

- Establishing and nurturing best practice in corporate governance;
- Dealing with overseas jurisdictions;
- Funding mining infrastructure;
- Established networks in fundraising in Australia;
- Understanding of mining, exploration and development;
- Profile in South Australia and knowing many of the South Australian-based investors of Kogi Iron; and
- Financial skills and project assessments and returns.

READ: Kogi Iron appoints experienced iron and steel executive as a special advisor

Kogi recently appointed experienced iron and steel industry executive Paul Marsden as a special advisor to its board.

Marsden, who has extensive experience in the global steel and iron ore industries, has been appointed to the role as the company advances the Agbaja project.

At the time Burston said: “His deep knowledge and understanding of iron ore and steel markets and the many elements that go into successful development of a cast steel project such as ours will be a great benefit.”

Quick facts: Kogi Iron Ltd

Price: $0.06

Market: ASX
Market Cap: $41.74 m
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