Financially troubled Namibian Minerals Corp. disclosed yesterday after trading was halted on the Toronto Stock Exchange that Alastair Holberton has resigned as chairman, chief executive officer and a director. He has been replaced as chairman by Arye Barboy, an associate of Israeli financier Lev Leviev and chief executive officer of Mr. Leviev's LL Mining Corp. BV of Tel Aviv, which owns 37.8 per cent of Namibian. Namibian said it has obtained a $3-million (U.S.) bridge loan from LL Mining and has reached an agreement to reschedule debt owed to its senior lenders. LL Mining has also agreed to provide a $10-million convertible loan to replace the bridge loan.
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