Caledon chairman retires

DUAL-listed Caledon Resources has announced the retirement of its executive chairman Robert Alford while the company remains in possible takeover negotiations with unnamed parties.
Caledon chairman retires Caledon chairman retires Caledon chairman retires Caledon chairman retires Caledon chairman retires

Caledon's Cook Colliery.

Blair Price

Effective on Friday, Alford’s retirement was made on health grounds following medical advice to reduce workload and travel commitments since he underwent heart bypass surgery in October.

In the meantime, Caledon said David Weill has agreed to continue in his role as interim non-executive chairman as announced on Christmas Eve while Caledon group managing director Mark Trevan takes over Alford’s executive responsibilities in support with other management and members of the board.

“Robert has directed Caledon through a transforming period, spearheading its transition from Chinese gold explorer to Australian coal producer, and driven several successful fundraisings in 2006 and 2007, culminating in our ASX listing last summer,” Trevan said.

“We thank him for his efforts and dedication and wish him a quick recovery to full health.”

Caledon is also listed on London’s Alternative Investment Market and produces coking coal from the Cook mine in Queensland’s Bowen Basin.

Last week the company said it was in discussions over a “variety of potential transactions, some of which may or may not lead to an offer for Caledon’s entire issued and to be issued share capital”