AVM.L Regulatory News (AVM)

12 Jul 2006 07:01

Avocet Mining PLC12 July 2006 12 July 2006 Avocet Mining PLC Changes to Board of Directors and Management The Board of Avocet Mining PLC ("Avocet" or "the Company"), the Central andSouth East Asian gold production and exploration company, today announces thefollowing changes to its senior management team. After more than six years of turning Avocet successfully into a significant goldproducer, John Catchpole has decided to resign as Chief Executive and from theboard for personal reasons. John has agreed to remain as an external consultantto the Company. The Board subsequently is very pleased to appoint Jonathan Henry as ChiefExecutive Officer with immediate effect. Jonathan joined Avocet in 1994 and hasbeen the Company's Finance Director since October 2002. Since then Jonathan hasbeen closely involved in the operations and strategic direction of the Company.Prior to becoming Finance Director he held various senior positions at Avocet.Jonathan will continue to cover the duties of Finance Director for an interimperiod until a replacement is appointed. A search is currently underway to fillthis position. The Board is also pleased to announce that Eric Vesel, currently the Company'sRegional Director for South East Asia, will become Chief Operating Officer withimmediate effect. A mining engineer with management and technical experience inmining and process plant operations, Eric has been in expatriate roles for over20 years; having worked in Namibia, Australia, Papua New Guinea, Indonesia andMalaysia. He joined Avocet in 1997 as Mining Manager and was promoted to GeneralManager at Penjom and Country Manager in Malaysia in 2001. In late 2004, heexpanded his responsibilities as Regional Director, South East Asia. In his newrole Eric will be based out of Malaysia. The Board is also pleased to announce the appointment of Michael Donoghue as anon-executive director with immediate effect. Michael John Donoghue, aged 57, isa mining engineer with over 30 years experience in base and precious metalmining operations and new mine development in Africa, Australia, South East Asiaand Europe. He is currently the executive chairman of Ormonde Mining, involvedin mining evaluation work in Spain. Previously he held the position of GeneralManager-Operations of Delta Gold, Sydney, Australia, where he participated inthe development of that company from a junior into a mid-tier gold producer,prior to its eventual take-over. Michael's considerable technical and corporateexperience will serve to bring additional perspective and balance to Avocet'sBoard as the Company moves forward into the next phase of its development. In the past 5 years, Michael Donoghue holds or has held the following positionswhere he was acting in the capacity of a director: Current Directorships Previous Directorships Ormonde Mining Plc NoneMagyar Mining Plc There is no other information that is required to be disclosed pursuant toSchedule 2 paragraph (g) of the AIM Rules.________________________________________________________________________________ For further information please contact: Avocet Mining PLC Buchanan CommunicationsJonathan Henry Bobby Morse, Director(Chief Executive and interim Finance Director) Ben Willey, Associate Director020 7907 9000 020 7466 5000www.avocet.co.uk www.buchanan.uk.com Evolution Securities LimitedRob Collins - 020 7071 4311 Grant Thornton (UK) LLPPhilip Secrett - 0870 991 2578 Notes to Editors Avocet is a mining company listed on the AIM market of the London StockExchange. The Company's principal activities are gold mining and exploration inMalaysia (as 100% owner of the Penjom mine, the country's largest goldproducer), Tajikistan (as 75% owner and operator of ZGC, Tajikistan's principalgold mine), and Indonesia (as 80% owner of the North Lanut gold mine in NorthSulawesi). The Company has a number of advanced mining and exploration projectsin Asia and owns 26% of Dynasty Gold Corporation, a Canadian listed explorationcompany active in Western China. This information is provided by RNS The company news service from the London Stock Exchange