24th Jul 2009 12:57
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AIM: GMA |
24 July 2009 |
GMA RESOURCES Plc
("GMA" or "the Company")
Result of Annual General Meeting and Directorate Change
The Company announces that at the annual general meeting held earlier today ("AGM"), all resolutions were duly passed.
As announced in the Company's final results for the year ended 31 December 2008, Richard Linnell, Non-executive Director, retired as a director of the Company with effect from the conclusion of the AGM. The Board would like to express their gratitude to Mr Linnell for guiding the Company from inception through to the point of successful commercial gold production and wishes him well in his future ventures. The Board is currently in discussions with potential candidates to replace Mr Linnell and an announcement will be made in due course.
A shareholder presentation given earlier today at the AGM by Douglas Perkins, Chief Executive Officer, will be available to download shortly from the Company's website, www.gmaresources.co.uk.
Enquiries:
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GMA Resources Plc Douglas Perkins |
Tel: +1 514 806 6788 |
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John East & Partners Limited, a subsidiary of Merchant Securities plc (Nominated Adviser) Bidhi Bhoma |
Tel: +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 Amesmessa project, with the remainder owned by Sonatrach, the Algerian state-owned oil and gas company.
ENOR holds the exploitation authorization to the Tirek-Amesmessa property, an area of some 1,417 km2, located approximately 450km south west of the city of 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 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 expand upon resources outside of the major 80km north/south Tirek-Amesmessa fault and other exploration targets on the property.
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