Northern Minerals appoints new non-executive director to board

Northern Minerals Limited (ASX:NTU) (OTCMKTS:NOURF) has appointed LiangBing Yu to the board as a non-executive director, effective immediately. Yu has more than 20 years’ experience in business operation and management and is currently an executive partner at Beijing GloryHope Oriental Investment Centre. He has a dual Bachelor's Degree in Investment Economics & Economic Law. Company now debt-free In early November the company received a refund payment of $8.7 million from the Australian Tax Office (ATO) and as a result, has achieved a key goal of being debt-free by the end of 2020. The refund payment relates to the company’s refundable R&D tax offset claim for the financial year ended June 30, 2020. NTU CEO Mark Tory said with the payment of the 2020 claim, Northern Minerals would repay the last amount of debt of $2 million to JHY Investments Pty Ltd. “We have achieved our aim today of being debt-free by the end of the 2020 calendar year and continuing to invest in the potential of Browns Range to support a full-scale, commercial operation in the future through ramping up our exploration program in the next six months.”