Last checked at 13 Apr 2012 07:19
13 April 2012
BERKELEY RESOURCES LIMITED
Resignation of Managing Director
Berkeley Resources Ltd ("Berkeley" or "the Company") advises that Berkeley CEO and Managing Director, Mr Brendan James, has resigned from the Company for personal reasons. Mr James has also resigned from the Board.
Mr James' resignations will take effect on the 20th May 2012.
Mr James stated, "I am very proud of what the team here in Spain has achieved over the last year, under challenging circumstances. Berkeley is now in the position to progress a solid project portfolio. Whilst, unfortunately, I will not be here to see this vision fulfilled, I have absolute belief in the management team we have constructed. I am confident that Berkeley's projects will be delivered on time, and on budget, allowing the Company to achieve first production in 2014".
The Board is very confident that the strength of the Company's management team and staff in Spain will ensure that progress of the flagship Salamanca 1 project, advancement of key exploration projects, and activity associated with the arbitration process announced on 2 April, 2012, will not be impeded by the departure of Mr James. Future management arrangements will be communicated shortly.
The Board and management wish Mr James well in his future endeavours.
Enquiries - Managing Director: Brendan James Tel: +34 923 193 903
RBC Capital Markets: Martin Eales Tel: +44 20 7653 4000