23rd Apr 2007 13:54
Dwyka Resources Limited23 April 2007 23 April 2007 Changes to Board of Directors Dwyka Resources Limited ("Dwyka" or the "Company") today announces the followingchanges to the Company's Board of Directors: - Ed Nealon (formerly non-executive director) has been appointed Chairman of the Company; - Melissa Sturgess (formerly Executive Chairman) has been appointed Chief Executive Officer; - Adrian Griffin, formerly the Company's CEO, has moved to the role of (non-executive) Technical Director in order to concentrate on the Company's South African assets, including its Kimberley-based diamond operations; and - The Board has been further strengthened by the appointment of Terry McConnachie as a Non-Executive Director. Terry has over 25 years' experience in the resources industry and is also a director of ASX and AIM-listed Sylvania Resources Limited. These changes reflect the Company's recent strategic diversification into nickeland gold, a strategy that has initially involved the Company acquiring interestsboth in the Muremera nickel project in Burundi (through the Company'swholly-owned subsidiary Danyland Limited) and in the Swaziland gold projectoperated by Swaziland Gold (Pty) Ltd as previously announced and noted below: - Under the terms of a Shareholders & Earn-in Agreement, BHP Billiton has agreed to spend US$5.2 million on the Muremera project (located within 2 km of the highly prospective Kabanga nickel project operated by Xstrata/Barrick) in order to earn a maximum shareholding of 50% in Danyland. - Pursuant to a legally-binding Memorandum of Understanding, Dwyka has the ability to acquire up to 90% of the Swaziland gold project owned by Swaziland Gold (Pty) Ltd by funding project development to bankable feasibility and by making various other cash and share-based payments totalling US$7.3 million. For further information please contact: In Australia Mike Langoulant Dwyka Resources Limited (+618) 9324 2955 In United Kingdom Richard Brown Ambrian Partners Limited (+44) 20 7776 6417 Or visit: http://www.dwyresources.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Nyota Minerals