Magnetic Resource NL announced that Mr. George Sakalidis has resigned as Managing Director and as a director of the company with immediate effect to pursue other opportunities. George was a founding director and shareholder of the company since incorporation. The Board announced the appointment of Mr. Gavin Fletcher as Managing Director with immediate effect.

Mr. Fletcher is currently an Executive Director having joined the company in March 2013 as part of the Investment Group that subscribed for $1 million. The Board is announced that it has appointed Mr. John Blanning as a non-executive director, in a step to increase the production and mining skills on the board. Mr. Blanning is a civil engineer with over 30 years of mining, construction & business management experience in both Iron Ore and Coal, and has served as the Vice President Mining for African Minerals Limited (AMI).

John was responsible for all the development and operational aspects for the Tonkolili Iron Ore Mine, including the design, planning and scheduling for all mining operations.