Last checked at 19 Aug 2009 13:30
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining
19 August 2009
Anglo Asian Mining plc ('Anglo Asian' or 'the Company')
Board Appointment & Award of Options
Anglo Asian Mining plc, the AIM listed emerging gold producer, has appointed Professor John Monhemius to its Board of Directors as a Non-executive Director with immediate effect. Professor Monhemius' appointment complements the Company's strategy of assembling a board with the experience and expertise to build a mid-tier gold and base metal mining company focused in Caucasia and Central Asia.
Professor Monhemius has extensive experience having acted as a consultant to a number of large mining and chemical companies over the years. Currently, he is a Non-executive Director of Obtala Resources plc, an AIM listed mineral exploration and development group focused in Tanzania; a member of the National Council of the Institute of Materials, Minerals and Mining; and Chairman of the Division of Mineral Processing and Extractive Metallurgy. Prior to this he was a co-founder and director of Consort Research Ltd., a consultancy specialising in gold and base metal ore processing.
Professor Monhemius has over 40 years of experience of academic and industrial research and development in hydrometallurgy and environmental control in mining and metallurgical processes. During his time as a Professor he published over 130 scientific research papers. Additionally, he held the prestigious Roy Wright Chair in Mineral and Environmental Engineering at the Royal School of Mines, Imperial College London and acted as the Dean of the Royal Schools of Mines from 2000 to 2004, when he retired from full-time academic work.
Anglo Asian Non-Executive Chairman Khosrow Zamani said, "We are delighted to welcome John to the Board and are confident that his extensive knowledge will support us as we develop our production and exploration assets in Azerbaijan."
As part of his remuneration arrangement, Professor Monhemius has been awarded options over 150,000 ordinary shares in the Company at an exercise price of 11.50p: 50,000 vesting after one year (14 August 2010), 50,000 vesting after two years and 50,000 vesting after three years. Professor Monhemius, aged 66, holds, or has in the last five years held, the following directorships:
Current Directorships: Obtala Resources plc
Past Directorships: Consort Research Ltd
There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule Two paragraph (g) of the AIM Rules.
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For further information please visit www.aamining.com or contact:
| Reza Vaziri | Anglo Asian Mining plc | Tel: +994 12 596 3350 |
| Andrew Herbert | Anglo Asian Mining plc | Tel: +994 12 596 3350 |
| John Harrison | Numis Securities Limited, as Nominated Adviser | Tel: +44 (0) 20 7260 1000 |
| James Black | Numis Securities Limited, as Corporate Broker | Tel: +44 (0) 20 7260 1000 |
| Hugo de Salis | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
| Felicity Edwards | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Notes to Editor:
Anglo Asian Mining plc (AIM:AAZ) is an emerging gold producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company has a 1,962 sq km prospective exploration portfolio, assembled on the back of analysis of historic Soviet geological data and held under a Production Sharing Agreement ('PSA') based on the Azeri oil industry. The Company developed Azerbaijan's first operating gold/copper mine, Gedabek, which commenced gold production in May 2009 and is targeted to produce in excess of 300,000 oz gold in the first six years of production.
Anglo Asian is actively looking to exploit its first mover advantage in Azerbaijan to identify additional projects, as well as looking for other properties in Central Asia and Caucasia in order to fulfil its expansion ambitions and become a mid-tier gold and base metal production company focussed in these regions.