Perseus Mining Appoints Additional Independent Non-Executive Director to Its Board
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PERSEUSMINING.COM
PERSEUS MINING APPOINTS ADDITIONAL INDEPENDENT
NON-EXECUTIVE DIRECTOR TO ITS BOARD
Perth, Western Australia/May 2, 2024/Perseus Mining Limited (ASX/TSX:PRU) (Perseus or the Company) is pleased
to advise that Mr Rick Menell has agreed to join the Board of Perseus in the role of non -executive, independent
Director and will take up this position with immediate effect.
Rick is an eminent South African citizen whose business career has spanned over 40 years and has involved senior
leadership roles in a range of major African based resources companies.
Trained originally as an exploration geologist at Cambridge and Stanford universities, Rick worked as a geologist in
Canada, USA and South Africa before spending time as an investment banker for the mining industry in New York
and Australia with JP Morgan. After a period as an executive director for Delta Gold in Australia, working on new gold
mines in Australia and gold and platinum projects in Zimbabwe, he returned to South Africa in 1991 and rejoined the
mining industry there as finance director for diversified mining company Anglovaal Mining.
Rick led Anglovaal Mining from 1996 as CEO and then Executive Chairman until 2004. During this time, he managed
the restructuring, transformation and moderni sation of the group, including major investments in new platinum,
gold, manganese, chrome, iron ore, coal and nickel mines in South Africa, new ferrochrome and ferromanganese
smelters in South Africa, and investments in copper and cobalt mining, smelting an d refining in Zambia. This work
continued when he merged Anglovaal with Patrice Motsepe’s ARM to f orm African Rainbow Minerals, where he
remained Deputy Chairman, and also CEO of subsidiary Teal Mining and Exploration Inc, until he left the group in
2008.
Up to 2011, Rick also served as President of the SA Minerals Council, Chairman of Tourism SA, Chairman of Bateman
Engineering, Deputy Chairman of Harmony Gold and of Associated Manganese Mines, and a director of Standard
Bank Group, Telkom South Africa and Mutual & Federal Insurance. He has been a director of the World Gold Council,
senior advisor to the WTO, the IOM and a Mining Council member for the World Economic Forum. He is a Fellow of
the Geological Society (London), and of the SAIMM and the AusIMM.
In 2011, Rick joined Credit Suisse investment banking group as a Senior Advisor, working on transactions in all sectors,
and throughout sub -Saharan Africa, leaving the group on its merger with UBS in 2023. He has retained an active
involvement in leadership in the mining and mining supplies industries, retiring recently as Deputy Chairman of Gold
Fields Ltd and as Senior Independent Director of the Weir Group (UK). He remains an Independent Non-Executive
Director at Sibanye-Stillwater Limited, a precious and energy-transition metals mining company listed in Johannesburg
and New York, having served for several years as Lead Independent Director.
Rick has also been active throughout his career in the nonprofit -sector, serving on numerous boards including the
Business Trust, the NBI, BLSA and the CDE, all in South Africa. He is founding Co -Chairman of City Year South Africa
youth service organisation, a trustee of the Foundation at the University of the Western Cape and a member of the
Advisory Board of the African Leadership Academy. His activities focus on secondary, tertiary and post tertiary
education and on active citizenship such as the SA Solidarity Fund, where he served as a full-time volunteer executive
in a team dealing with health and humanitarian consequences of the COVID pandemic . He headed a funding effort
that has raised approximately US$250 million in support of urgent programmes for everyone in need, both citizens
and non-citizens.
He has been involved in the founding and funding of a similar new initiative in 2023: the Resource Mobilization Fund.
This has been set up at the request of the South African President to engage the private sector to assist in dealing
NEWS RELEASE
2 MAY 2024
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PERSEUSMINING.COM
with the enormous national challenges of power and water supply, failing transport infrastructure and eroding rule
of law through public-private partnerships.
Perseus’s Chairman and CEO Jeff Quartermaine said:
“On behalf of the Board of Perseus, I am extremely pleased to welcome Rick Menell to the Board of our company. Rick is
a very high calibre individual whose diverse work and life experiences will bring new perspectives that will be invaluable
in helping Perseus reach its full potential.
His deep understanding of the people and the mining industry on the African continent is perfectly suited to joining the
leadership team of a growing, African focussed company like Perseus, that has ambitions to become a leader of the gold
mining industry on the continent.”
This market announcement was authorised for release by the Board of Directors of Perseus Mining
Limited.
FOR MORE INFORMATION:
Jeff Quartermaine
Executive Chairman & CEO
Stephen Forman
Investor Relations
+61 484 036 681
Nathan Ryan
Media
+61 420 582 887
REGISTERED OFFICE:
Level 2
437 Roberts Road
Subiaco WA 6008
Telephone: +61 8 6144 1700
ABN: 27 106 808 986
WWW.PERSEUSMINING.COM