Bullabulling Gold Limited BOARD AND MANAGEMENT CHANGES (3293M)
15 Julio 2014 - 2:55AM
UK Regulatory
TIDMBGL
RNS Number : 3293M
Bullabulling Gold Limited
15 July 2014
15 July 2014 ASX Code: BAB, AIM Code: BGL
BOARD AND MANAGEMENT CHANGES
Bullabulling Gold Limited (the Company) advises that changes to
the composition of its board and management are being implemented
following the acquisition of a controlling interest in the Company
by Norton Gold Fields Limited (Norton).
It has been agreed that Norton Managing Director Dr Dianmin Chen
and Dr Noel White, a Non-Executive Director of Norton, will join
the board of Bullabulling as Non-Executive Directors subject to the
completion of regulatory requirements and the requirements of the
AIM Rules for Companies. A further announcement will be released in
due course confirming the appointment of Dr Chen and Dr White.
Dr Chen is a mining engineer with a Bachelor of Science degree
from the Central South University of China and a PhD in from the
University of Wollongong. He has over 30 years international mining
industry experience, predominantly gained at major Australian
mining operations.
Dr White is a geologist with a Bachelor of Science degree from
the University of Newcastle and a PhD from the University of
Tasmania. He has more than 45 years of experience in mineral
exploration, operations and project generation work worldwide and
was formerly Chief Geologist for BHP.
The role and responsibilities of Managing Director, Mr Brett
Lambert, are now significantly diminished and, as a result, the
board has resolved to abolish the position of Managing Director and
forthwith end Mr Lambert's executive duties. Upon the appointment
of Norton's nominees he will also leave the board. However Mr
Lambert has committed to be available to the Company during the
current quarter to ensure a smooth and orderly transition.
CFO and Company Secretary, Mr David McArthur and General Manager
Development, Mr Mark Braghieri, will report directly to the board
and continue to be responsible for the day to day corporate
administration and operational management of the Company
respectively. The work to complete the Definitive Feasibility Study
will continue uninterrupted.
Bullabulling Chairman, Mr Peter Mansell, said "I welcome Dr Chen
and Dr White to the board and look forward working with them as the
Company moves the Bullabulling Gold Project towards production for
the benefit of all shareholders. On behalf of the board and
Shareholders of Bullabulling, I would also like to thank Mr Lambert
for what he has achieved for Bullabulling during his tenure.
Despite very significant external headwinds, Brett has done all
that we could have asked of him. The professionalism of Brett's
team in taking the Bullabulling mine from a difficult and early
exploration project to what now looks like a viable development
project of a large scale gold mine is commendable. But for the
changed corporate circumstances and his diminished role, Brett
would certainly not have been leaving the company now."
For information, contact:
David McArthur Westhouse Securities Limited
Bullabulling Gold Limited (UK Broker & Nominated Adviser)
Level 2, 55 Carrington Street Martin Davison / Hugo Rubinstein
Nedlands, WA, 6009, Australia Tel: +44 20 7601 6100
Tel: +61 8 9386 4086
Neil Boom John Gardner / Rupert Dearden
Gresham PR Ltd (UK media) MAGNUS Investor Relations. Corporate
Tel: +44 7866 805 108 Communication. (Australian Media)
Tel: +61 8 6160 4900
jgardner@magnus.net.au rdearden@magnus.net.au
-----------------------------------------------
About Bullabulling Gold Limited
Bullabulling Gold Limited is listed on the Australian Securities
Exchange (ASX:BAB) and London's AIM Market (AIM:BGL) and has
approximately 350 million shares on issue. The Company's primary
asset is the wholly owned Bullabulling Gold Project, located 60
kilometres west of Kalgoorlie in Western Australia.
The Bullabulling Gold Project hosts estimated Mineral Resources
of 3.75 million ounces comprising Indicated Resources of 72.4
million tonnes at 0.98 g/t gold (2.28 million ounces) and Inferred
Resources of 41.6 million tonnes at 1.11 g/t gold (1.47 million
ounces). Exploration has demonstrated strong potential for further
expansion of the resource base.
The Bullabulling deposit is amenable to bulk tonnage open pit
mining and conventional CIL processing. All resources are situated
on granted Mining Leases in close proximity to infrastructure.
The Company is conducting a definitive feasibility study into
the development of a large scale, low cost mining operation at
Bullabulling, scheduled for completion in 2015.
Competent Person Statement
The information in this report that relates to the Exploration
Results, Mineral Resources or Ore Reserves is based upon, and
fairly represents, information and supporting documentation
compiled by Mr Trevor Pilcher, who is a full time employee of the
Company and is a member of The Australasian Institute of Mining and
Metallurgy. Mr Pilcher has sufficient experience relevant to the
style of mineralisation and type of deposit under consideration and
the activity in which he is undertaking to qualify as a Competent
Person under 2012 Edition of the Australasian Code for Reporting
Exploration Results, Mineral Resources and Ore Reserves (JORC
Code). Mr Pilcher consents to the inclusion in this report of the
matters based on his information in the form and context in which
it appears.
The information in this report that relates to the Exploration
Results, Mineral Resources or Ore Reserves was prepared and first
disclosed under the JORC Code 2004. It has not been updated since
to comply with the JORC Code 2012 on the basis that the information
has not materially changed since it was last reported.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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