Last checked at 4 Sep 2013 07:00
Centurion Resources Plc / Index: AIM / Epic: CEN / Sector: Natural Resources
Wednesday 4 September 2013
Centurion Resources Plc ('Centurion' or 'the Company')
Board Changes and Mitterberg Regional Study
Centurion Resources, the AIM listed exploration and development company, announces that Non-Executive Chairman Peter Landau and Non-Executive Director Robert Hyndes are stepping down from the Board with effect from today to pursue their other business interests.
Centurion CEO Alastair Clayton said, "I'd like to take this opportunity to thank both Peter and Rob for their contribution during the past 10 months. We have always had a philosophy of minimising administrative costs wherever possible and these changes reflect both that policy as well as our continued focus on the European resources sector. Having recently bolstered our working capital by raising an additional £200,000 in July, we are focused on obtaining the best value for the Company and its shareholders."
Having undertaken an initial assessment of the Mitterberg project, it became evident there were additional opportunities both to the East of the existing license area as well as a possible southern continuation of the prospective geology. As a result, and in consultation with the Company's Austrian consultant geologists, the Board has decided to engage a geological services company (tender to be posted this month) to undertake a review of the wider Mitterberg area in order to assess whether additional land areas should be acquired prior to any full scale exploration campaign.
Furthermore, having withdrawn from the Balkan Mining investment in July, the Board is encouraged by the high-quality of investment opportunities it is seeing in Europe. Whilst no discussions have yet been concluded, the Board is confident its investment mandate in the European resources space, outside of Austria, will be met in the coming quarter.
It is the intention of the Board to appoint suitably qualified new Directors in due course.
**ENDS**
For further information see http://www.centurionresources.com/ or contact the following:
Alastair Clayton | Centurion Resources Plc | + 44 (0) 20 3326 1729 |
Ewan Leggat | SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker | +44 (0) 20 3463 2260 |
Laura Littley | SP Angel Corporate Finance LLP | +44 (0) 20 3463 2260 |
Lindsay Mair | Sanlam Securities UK Joint Broker | +44 (0) 20 7628 2200 |
Catherine Miles | Sanlam Securities UK | +44 (0) 20 7628 2200 |
Elisabeth Cowell | St Brides Media and Finance Ltd | +44 (0) 20 7236 1177 |
Charlotte Heap | St Brides Media and Finance Ltd | +44 (0) 20 7236 1177 |