The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEmpire Metals Regulatory News (EEE)

Share Price Information for Empire Metals (EEE)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 9.25
Bid: 9.00
Ask: 9.50
Change: 0.89 (10.65%)
Spread: 0.50 (5.556%)
Open: 8.40
High: 9.65
Low: 8.42
Prev. Close: 8.36
EEE Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Appointment of Non Executive Chairman, CEO and FD

28 Mar 2018 07:00

RNS Number : 1574J
Georgian Mining Corporation
28 March 2018
 

Georgian Mining Corporation / EPIC: GEO / Sector: Natural Resources

 

Georgian Mining Corporation ('GEO' or the 'Company')

Appointment of Non Executive Chairman, CEO and FD

 

Georgian Mining Corporation is pleased to announce that Dr Neil O'Brien, previously Non-Executive Director of the Company, has been appointed Non-Executive Chairman and Michael Struthers, previously Chief Operating Officer, has been appointed Chief Executive Officer with immediate effect.

 

Mr. Struthers has over 37 years of international operational mining experience and replaces Mr Greg Kuenzel, who has been appointed Finance Director of the Company.

 

Dr Neil O'Brien brings over 30 years of industry experience to GEO, including 15 years in technical and management roles with Teck Cominco and 13 years of executive management experience with Lundin Mining, as well as extensive board experience in both public and private junior resource industry companies.

 

These Board changes follow the recent agreement between GEO and its partner, Caucasian Mining Group ('CMG'), regarding the joint funding of the 2018 work programme (see announcement of 15 March 2018 for further details).

 

The 2018 work programme focuses on the remaining work required to make a production decision on the Gold Zone 2 ('GZ2') oxide gold resource at at Kvemo Bolnisi East ('KBE'). In addition to an infill drilling programme and related technical studies at KBE, the work programme includes further regional exploration drilling. This is in line with the Company's objective of exploring and developing other epithermal gold-copper targets within the large licence area. A high priority is also the continued advancement of the KBE copper-gold sulphide Resource, which is currently open to expansion, and which has the geological potential to form one large epithermal copper gold system at depth. The work programme is fully funded and divided equally between GEO and CMG,

 

In parallel with the feasibility study, and subject to metallurgical testwork results, GEO and RMG Gold LLC ('RMG'), CMG's sister production company, will work to finalise a definitive agreement covering the mining and processing of oxide ore from GZ2 at KBE at RMG's processing facilities at the nearby Madneuli mine, based upon the recently signed Mining MOU. The infill drilling programme is due to commence in April 2018 and the results will be incorporated into a final JORC compliant Resource estimate for the gold oxides at GZ2, along with an update to the copper-gold sulphide Resource. To date, JORC resources at KBE stand at 2.29Mt @ 0.85g/t Au for the gold oxides and 3.154Mt @ 0.82% Cu & 0.14g/t Au for the copper sulphides.

 

As detailed in the announcement of 21 December 2017, Mr Struthers has a proven track record in project development and management having worked as a project manager with leading global mining companies such as Lundin Mining Corporation, and on mines at various stages of development including feasibility, construction and mine expansion phases. With such a proven technical background, the Board believes Mr Struthers is ideally positioned to deliver the Company's objectives: firstly to advance the technical and financial studies at KBE in order to finalise the production sharing agreement with RMG, and ready the asset for production; and secondly to develop the full mineral potential for both the wider KB Project and the remainder of the JV license area.

 

Georgian Mining Corp CEO, Mike Struthers, said: "This is a pivotal period for the Company as we look to realise the value of our first resource development project at KBE, whilst building up a robust pipeline of other projects with our JV partner. In addition to the oxides at KBE we believe the sulphide resources below represent significant value, and we will maintain our focus on further defining this potential along with continued testing of the other well-defined epithermal gold-copper targets across the JV licence area. I originally joined GEO as Chief Operating Officer on the strength of the epithermal geological model, the mineral potential waiting to be developed on the JV license and my confidence in the GEO team. As CEO, I look forward to completing this work and establishing KB and the surrounding areas as yet another world class asset on the prolific Tethyan Belt."

 

Georgian Mining Corp Non-executive Chairman, Dr Neil O'Brien, said: "I would like to take this opportunity to thank Greg for the significant contributions he has made as Managing Director to GEO over the years, including the Company's entry into Georgia through the current Bolnisi JV Project which has the potential to be a company-making asset. With Mike now as CEO, together with the considerable experience of board members Peter Damouni and Laurie Mutch, I believe we have the ideal core team in place to first realise the value of KBE in collaboration with our JV partner, and then grasp the potential for a significant new discovery within the large JV licence area, and in the process generate significant value for GEO's shareholders."

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

**ENDS**

 

For further information please visit www.georgianmining.com  or contact:

 

Mike Struthers

Georgian Mining Corporation

Company

Tel: 020 7907 9327

Greg Kuenzel

Georgian Mining Corporation

Company

Tel: 020 7907 9327

Ewan Leggat

S. P. Angel Corporate Finance LLP

Nomad & Broker

Tel: 020 3470 0470

Soltan Tagiev

S. P. Angel Corporate Finance LLP

Nomad & Broker

Tel: 020 3470 0470

Damon Heath

Shard Capital Partners LLP

Joint Broker

Tel: 0207 186 9950

Frank Buhagiar

St Brides Partners Ltd

PR

Tel: 020 7236 1177

Susie Geliher

St Brides Partners Ltd

PR

Tel: 020 7236 1177

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOAEAPDXALLPEFF
Date   Source Headline
28th Jan 202212:14 pmRNSUpdate on Central Menzies Gold Project
26th Jan 20227:19 amRNSTribute Agreement for the Eclipse Gold Project
20th Dec 20217:00 amRNSExploration Update for the Eclipse Gold Project
2nd Dec 20217:00 amRNSPhase 2 Drilling Commences at Central Menzies
3rd Nov 202111:06 amRNSSecond Price Monitoring Extn
3rd Nov 202111:00 amRNSPrice Monitoring Extension
3rd Nov 20217:00 amRNSDrill Results for the Central Menzies Gold Project
12th Oct 20217:00 amRNSInvestor Presentation
1st Oct 20217:00 amRNSSoil Sampling Results - Central Menzies Project
30th Sep 20217:00 amRNSInterim Results
15th Sep 20217:00 amRNSTechnical update for the Eclipse Gold Project
9th Sep 20217:00 amRNSDrilling Commences at the Central Menzies Project
7th Sep 20217:11 amRNSAppointment of Key Personnel to Exploration Team
31st Aug 20215:12 pmRNSHolding(s) in Company
31st Aug 20217:00 amRNSDirector Dealings
25th Aug 202111:05 amRNSSecond Price Monitoring Extn
25th Aug 202111:00 amRNSPrice Monitoring Extension
25th Aug 20217:00 amRNSProgress update for the Eclipse Gold Project
19th Aug 20217:00 amRNSDrilling to Commence: Central Menzies Gold Project
28th Jul 20217:00 amRNSIdentification of new Twin Shafts Lode at Eclipse
7th Jul 20212:50 pmRNSHolding(s) in Company
17th Jun 20219:00 amRNSPublication of New Investor Presentation
16th Jun 20219:30 amRNSCentral Menzies Gold Project Update
10th Jun 20212:05 pmRNSCompletion of Sale of 50% Interest in CGC
9th Jun 20217:00 amRNSInvestor Presentation
7th Jun 202112:49 pmRNSFinalised Sale of 50% Interest in Georgian Assets
20th May 20212:05 pmRNSSecond Price Monitoring Extn
20th May 20212:00 pmRNSPrice Monitoring Extension
20th May 20217:00 amRNSOption to Acquire Highly Prospective Gold Project
17th May 202111:06 amRNSSecond Price Monitoring Extn
17th May 202111:00 amRNSPrice Monitoring Extension
17th May 20217:00 amRNSAppointment of Managing Director
27th Apr 20217:00 amRNSDrilling Recommences at Eclipse Gold Project
19th Apr 20217:00 amRNSFinal Results
17th Mar 20211:35 pmRNSNext Phase to Commence at Eclipse Gold Project
16th Mar 20217:00 amRNSNext Phase at Eclipse Gold Project
25th Feb 20212:06 pmRNSSecond Price Monitoring Extn
25th Feb 20212:00 pmRNSPrice Monitoring Extension
22nd Feb 20217:00 amRNSEclipse Acquisition Completion & Issue of Equity
18th Feb 20217:00 amRNSFurther Drilling Results at Eclipse Gold Project
1st Feb 202110:10 amRNSGrant of Options and Director Shareholding
1st Feb 20217:00 amRNSCorporate Update, Drilling Update & Board Changes
7th Jan 202112:30 pmRNSSecond Phase Drilling Commences at Eclipse Project
30th Dec 202010:30 amRNSFIRB Approval
10th Dec 20207:00 amRNSDrilling Results & 75% Acquisition of Eclipse
27th Nov 20203:06 pmRNSHolding(s) in Company
24th Nov 20201:26 pmRNSPlacing to Acquire 75% of Eclipse Gold Project
11th Nov 20203:30 pmRNSResult of General Meeting
6th Nov 20207:00 amRNSDrilling Update at Eclipse Gold Project
4th Nov 20204:41 pmRNSSecond Price Monitoring Extn

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.