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8 Jul 2008 09:35
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8Β JulyΒ 2008
China Goldmines plc
("ChinaΒ Goldmines" or the "Company")
LANCE BROWNEΒ APPOINTED CHAIRMAN
China GoldminesΒ PlcΒ (AIM:CGM),Β whichΒ recentlyΒ transitionedΒ from explorer toΒ goldΒ producer,Β announces theΒ retirement of its Chairman, Mr Clive Donner, and the appointment ofΒ LanceΒ Browne (ageΒ 59). MrΒ Browne,Β a non executive director of China GoldminesΒ up to the time of this appointment, tookΒ up the roleΒ of Chairman withΒ effectΒ fromΒ 3rdΒ July 2008.
CliveΒ DonnerΒ has been Chairman of theΒ Company since itsΒ admission toΒ AIMΒ inΒ February 2006Β and has been instrumental in the initial process of listingΒ the CompanyΒ and steering theΒ businessΒ towards its current position asΒ a goldΒ producer.Β Due to time constraints, Mr Donner has decided to step down as Chairman of the Company, butΒ will remain a non-executive Director.Β
Frank Vanspeybroeck, CEO of China Goldmines, commented: "The board would like to express itsΒ sincereΒ gratitude toΒ Mr DonnerΒ forΒ his input into the businessΒ as Chairman of the Company.Β Mr DonnerΒ has made an outstanding contribution to the Company since its listing on AIM, providing strong Board leadership during a critical period in the Company'sΒ development.Β The board would also like to take this opportunity toΒ welcomeΒ LanceΒ BrowneΒ as Chairman."Β
Lance Browne, who is based in Shanghai China, was previously CEO, then Chairman and is now Vice-Chairman of Standard Chartered Bank in China, where he has lived since 1979 working in engineering and finance. He contributes a wealth of board room and Chinese commercial experience to the Board which, the Board believes, will enable a smooth transition in the Company's leadership and will strengthen the Company's position as it moves to scale up production.Β
Lance is a NED and Chairman of the China Advisory Board of IMI plc, and an Advisory Board Director of G3 (Good Governance Group). He is also a Director of the China Britain Business Council, Vice Chairman of the 48 Group and a Board Member of the Oxford University Inter-University China Centre.
Lance has been Chairman of the British Chambers of Commerce in both Shanghai and Beijing and Chairman of the Foreign Bankers Association of China.
In 2001, Lance was made an Honorary Citizen of Shanghai and in 2002 was appointed CBE in the Queen's New Year Honours List.
Lance attended universities inΒ China,Β BritainΒ andΒ FranceΒ and speaks those languages fluently.
There is no further information to be disclosed under Schedule Two (g) of the AIM Rules.
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China Goldmines plc |
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Frank VanspeybroeckΒ (CEO) |
+86 731 518 8200 |
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Alec Worrall |
+44 207 788 7621 |
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Marinko Vidovich (CFO) |
+61 8Β 6216 5200 |
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ChangshaΒ Office |
+86 731 518 8200 |
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Brewin Dolphin Limited (Nominated Adviser) |
+44 141 221 7733 |
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Alan Stewart (Corporate Finance) |
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Parkgreen Communications |
+44 20 7851 7480 |
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Justine Howarth |
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Notes to Editors
China Goldmines plc is aΒ UKΒ mining company focussed on gold mining projects in the China Region. The Company listed onΒ AIMΒ on 7 February 2006 as a gold resources company focussed on the discovery and development of gold projects in the Hunan Province of China.
The Company'sΒ GuanzhuangΒ Gold Project, based on an Independent Geological Report, has an estimated inferred resource of 1.8 million ounces within the top 325m from surface and over a strike distance of 1.5km has been identified from its 100% owned/controlledΒ ShenjiayaΒ Prospect.Β
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TheΒ ShenjiayaΒ Prospect consists of eight gold mines which the Company plans to consolidate with the aim of having a long life mining production of 150,000 oz Au/pa in the near future. At the same time as mining the existing eight mines, China Goldmines will continue to investigate the potential of the project area that remains under explored.
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