Wednesday, December 17, 2008

REDBANK COPPER STRENGTHENS BOARD




 

Australian high grade copper developer Redbank Mines Limited (ASX: RBM) announced today a number of changes to its Board as the Company repositions itself to focus solely on the exploration and development of high grade copper sulphide targets at its Northern Territory copper project.

 

Gino Vitale, will step down as Managing Director on 31 December 2008 and current Non-Executive Director Bruce Morrin, a Mining Engineer with significant copper experience with Anglo American and Mt Isa Mines, will assume the position of Managing Director from 1 January 2009.

 

As announced on 28 November 2008 Dr James Searle has assumed the role of Chairman. He has 25 years experience in exploration and project development holding Bachelor and Doctoral degrees in Geology.  

 

Bernie Siddall, a well known and experienced Metallurgical Consultant of some 20 years is to join the Board. His specialist skills have taken him to global mining centres focusing on a range of minerals including copper, gold, nickel and lead/zinc. 

 

The Board has also appointed Michael Kiernan, who has a track record in management of resource based projects, as a Director and Shannon Caporn (LLB B.Com) of Grange Consulting Group as Company Secretary. 

 

As part of Redbank’s future focus it is planned to spin off the Mt Kasi Gold Project in Fiji into a dedicated gold vehicle headed by Gino Vitale. The Mt Kasi Special Prospecting Licence and Special Mining Lease expired on 31st December 2007 and are yet to be renewed. The Company has applied for a 5 year extension on the right to explore on the leases and is awaiting the outcome of an appeals process with the Fijian Government.  

 

Redbank Mines Limited will also seek shareholder approval in due course to change its name to Redbank Copper Limited to fall in line with the Company’s focus on copper exploration and development. 


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