Scorpion has new president

Scorpion has new president

TORONTO (Dow Jones): Scorpion Minerals Inc said Laurie E. Whitehouse has resigned as president and a director, to pursue other interests.

In a news release, the company said it named chairman Michael A. Farrugia as acting president.

Scorpion said Whitehouse was also head of Scorpion's Indonesian operations. It noted completion of the Sampanahan joint venture with Aurora Gold Ltd in southeast Kalimantan, Indonesia, allows it to wind up its remaining Indonesian operations.

As reported, Aurora will earn 75 percent of Scorpion's 85 percent interest in PT Scorpion Sampanahan Mineral, or a 63.75 percent stake in the property, in exchange for spending $6 million on operation plus an additional $1 million payment.

The company said it continues to pursue potential acquisition opportunities with a view to increasing shareholder value. Aurora Gold, Perth, is a gold mining company.

Scorpion is a mineral exploration company.