Aruma Resources’ founding Managing Director resigns

Aruma Resources (ASX:AAJ) announces its Non-Executive Director and founding Managing Director, Peter Schwann, has resigned to focus on ‘personal interests’. 

Schwann led Aruma from its ASX listing in 2010 up until January 2023, when he stepped down from his Managing Director role and became a Non-Executive Director of the company. 

Commenting on Schwann’s resignation, Aruma Resources Chairman James Moses says: “Peter has always demonstrated boundless energy and passion for his work at Aruma Resources, and his commitment and dedication has been evident to stakeholders across all areas of the business throughout his 13-year tenure with the company.

He led the company through the assessment and exploration of a range of projects and oversaw multiple capital raisings which enabled Aruma to execute its exploration programs”

He led the company through the assessment and exploration of a range of projects and oversaw multiple capital raisings which enabled Aruma to execute its exploration programs.”

As Aruma’s Managing Director, Schwann managed and led the assessment, acquisition and pegging, and subsequent exploration of several projects across a range of different minerals. 

The company acknowledges that Schwann helped build the company to ‘successfully’ pursue its exploration activities.  

Aruma Resources is an ASX-listed minerals exploration company focused on a  portfolio of prospective gold and lithium projects in Western Australia. 

As of 31 March 2023, the company had $2.46 million cash at hand and no debt, according to its latest quarterly report. Aruma in June launched a share placement to raise $2.36 million before costs.

Images: Aruma Resources Ltd
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.