Ownership
Black Angel Mining Ltd is
a wholly owned subsidiary of Angus &
Ross plc, a mineral exploration company
registered in England and listed on the AIM market of the London
Stock Exchange (stock symbol AGU).
In 2005 BAM raised £931,000
of seed capital through private placement in return for 16% of the
company. The funds were used to kick-start the exploration programme
in Greenland and assessment or re-opening of the Black Angel mine.
The minority stake of 16% havs since
been re-purchased by Angus & Ross plc (in March 2006) and therefore
Black Angel Mining Ltd is now 100% owned by Angus & Ross plc.
Management
The management of the company consist
of the Board of Directors and a team of technical advisers, including
many who spent number of years of their professional lives in the Black
Angel mine.
The Board consist of Malcolm Swallow,
Robin Andrews, Andrew Zemek, Bob Dowdell and Paul Williams (click
here for
short biographies of the board members). Technical advisers include
Frank van der Stijl, a former chief geologist of the mine, Bjorn Thomassen
(currently with the Geological Survey of Denmark and Greenland),
who was employed at the mine and involved
in the previous exploration of the satellite deposits, and Dr Robert
Dowdell (appointed director of BAM in 2006), who was responsible for
1,5, and 10-year development plans for the Black Angel mine in
the 80s and acted as mine superintendent.
Wardell Armstrong International has
been commissioned to prepare a pre-feasibility study focusing on re-opening
of the mine.
