1st Mar 2010 07:00
1 March 2010 AIM: GMA
GMA RESOURCES PLC
("GMA" or the "Company")
Board and Management changes
The Company announces that Doug Perkins, by mutual agreement, has decided to stand down as Chief Executive Officer and resign as a director of the Company, with immediate effect.
The Company has entered into a consultancy agreement with Mr Perkins so that he will remain available to the Company to provide general advice and assistance in connection with the Company's operations.
The Company also announces that Ken Crichton, recently appointed to the Board as a Non-Executive Director, has been appointed to act as interim Chief Executive Officer until a suitable candidate has been found to fill the role via an international executive search process.
David Netherway, Non-Executive Chairman of the Company, commented:
"The Board would like to thank Doug for all his efforts on behalf of the Company and for his significant contribution to the success of the Company. We wish Doug all the best for the future. At the same time I would like to welcome Mr Ken Crichton to his new post."
Enquiries:
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GMA Resources Plc
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David Netherway (Non-Executive Chairman) Ken Crichton (CEO) |
+27 72 186 1765 +20 107 666 118
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Merchant John East Securities Limited |
Bidhi Bhoma |
+44 (0) 20 7628 2200 |
Notes to Editors:
GMA owns a controlling 52 per cent. stake in ENOR spa ("ENOR"), the Algerian based operating company for the Tirek-Amesmessa project, with the remainder owned by Sonatrach, the Algerian state-owned oil and gas company.
ENOR holds the exploitation authorisation to the Tirek-Amesmessa property, an area of some 1,417 km2, located approximately 450km south west of the city, Tamanrasset, in southern Algeria. Amesmessa is an open pit heap leach gold mine located in the extreme south of the permit area. The Tirek gold mine is located centrally in the northern third of the exploration permit area, some 60 km north of Amesmessa. Research to date suggests that the Zita Zone, which lies between Tirek and Amesmessa, offers considerable potential for the development of additional prospects amenable to open-pit mining. GMA plans to quickly expand upon resources outside of the major 80km Tirek-Amesmessa fault north/south of the concession.
GMA's shares are traded on the AIM market of the London Stock Exchange (AIM: GMA).
For further information on the Company, please visit: www.gmaresources.co.uk
Related Shares:
Kemin Resources