Last C$0.0050 CAD
Change Today -0.005 / -50.00%
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As of 4:34 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

reliance resources ltd (RI) Snapshot

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12/5/13 - C$0.06
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01/9/14 - C$0.0050
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reliance resources ltd (RI) Details

Reliance Resources Limited, a junior mineral exploration company, acquires and explores precious metals. The company holds five gold exploration permits covering 68,000 acres on the islands of Sulawesi and Halmahera in eastern Indonesia. Reliance Resources Limited is headquartered in Vancouver, Canada.

12 Employees
Last Reported Date: 09/27/13

reliance resources ltd (RI) Top Compensated Officers

Vice President of Commercial
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

reliance resources ltd (RI) Key Developments

Reliance Resources Ltd. to Expand Iron Exploration, Development Business Activities; Files for Conditional Approval of Interim Private Placement Financing of $200,000

Reliance Resources Ltd. announced an expansion to its iron exploration and development business activities and a related interim private placement. The company recently submitted to the Minnesota Department of Natural Resources or DNR applications to lease an additional 24 iron stockpile and tailings properties in the vicinity of Hibbing, Minnesota. Terms for leases on the properties have been negotiated between the company and the DNR, and execution of the leases is expected within one week. Further, the company has filed for conditional approval of an interim private placement financing of $200,000.

Reliance Resources Announces Board Changes

Reliance Resources Limited announce that George S. Young has been appointed as Chairman of the Board, in addition to his position as President and CEO. Gary Lewis has resigned as Chairman and as a Director of the company. Mr. Young will continue to move the Company forward to close the recently announced agreement to acquire Minnesota-based American Iron Corp.

Reliance Resources Limited Announces Management Changes

Reliance Resources Limited announced management changes as part of its ongoing restructure and reorganisation of the business: Mr. George S. Young, appointed as a Non-Executive Director of the company in October of 2013, has been appointed as President and CEO. Mr. Nicholas Clark has stepped down as President and has been appointed as Vice President - Commercial, a role in which he will assist Mr. Young with primary responsibilities over financial, administrative, legal and investor relations functions. Mr. Young has over 35 years experience in the mining industry, starting his career as a metallurgist at Kennecott Copper Corp. in Utah in 1975. He is a former Chair of the Utah Section of the Society of Mining Engineers and a member (inactive) of the State Bar Associations of Colorado, Utah, and Texas.


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