Changing the guard at Mano

14/09/2007 Robert Tyerman

Depressed Mano River Resources is replacing both its chairman and chief executive officer.

Guy Pas, the entrepreneurial founder of West Africa-focused gold, diamonds and iron ore hopeful Mano, is stepping down as chairman after eight years. In his place as executive chairman comes David Evans, a director of fellow AIM counter Tianshan Goldfields and former director of successful Aquarius Platinum.

At the same time, the experienced Tom Elder is resigning as president and chief executive officer after nine years. His replacement will be Luis da Silva, 36, who joined Mano as chief financial officer in February.

Pas and Elder are to remain as non-executive directors on the board of Mano, which has not managed to excite the stock market despite its potentially lucrative projects in the previously strife-torn states of Liberia and Sierra Leone. Floated at 18p in 1998, the shares now languish at 8.5p, valuing the company at £25.3 million, and have speculative recovery possibilities.

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