Inova Resources Limited (ASX/TSX:IVA) announces the resignation from the Board of Mr Stephen McIntosh and Mr Stewart Beckman.
Messrs McIntosh and Beckman were appointed in May 2012 as nominees of the Company’s former majority shareholder, Turquoise Hill Resources Limited, which on Friday, 1 November 2013, announced that it had accepted all of its shares in Inova Resources into the takeover offer for the Company by Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd.
Peter McMahon, Chairman, commented, “The Board would like to thank Stephen and Stewart for the significant contributions that both of them have made to the Company over the past 18 months. We have appreciated their valuable input and wish them well.”
“The Board will continue to work its way through the takeover process and update shareholders regularly as it progresses.”
Originally created as the Australian exploration arm of Canadian company Ivanhoe Mines (now Turquoise Hill Resources), Inova Resources (then Ivanhoe Australia) was the biggest exploration company in Australia. These extraordinary beginnings have given Inova a growth platform from which to expand, based primarily on its significant holdings in the Mt Isa region of northwestern Queensland and its well-respected exploration capability.
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