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Asiamet Resources Limited ("ARS" or the "Company") is pleased to announce a further strengthening of its Board and management team as it advances the BKM feasibility study through to completion in 2017 and ramps up project financing and mine development related activities. Simultaneously the Company is continuing to progress its other high potential Indonesian copper and gold projects, delisting from the TSX-V and consolidating its listing on the London AIM.
Effective February 20, 2017, Tony Manini the current Chief Executive Officer and Vice Chairman will assume the position of Executive Chairman of the Board and Mr Peter John Bird, a highly experienced mining company executive will join Asiamet in the full time role of Chief Executive Officer. Mr Bird, 53, will also join the Asiamet Board as Vice Chairman. Peter Pollard the current Chairman of the Board will continue as a non-executive director.
Further changes to the Board will be announced in due course as the focus of Company activities transitions from exploration and feasibility studies to project financing, mine construction and operations.
Peter Bird is an experienced, well known and highly respected mining industry executive. His extensive experience covers technical, management, investment and human resource positions with major companies such as Western Mining Corporation, Merrill Lynch Equities and Newmont Mining. He has held senior executive roles at Newcrest Mining and Normandy Mining, two of Australia's largest gold producers with substantial operations in Indonesia. Peter was most recently the Managing Director of Heemskirk Consolidated Limited, an Australian listed producer of industrial minerals in Canada and previously operator of the Pajingo gold mine in Australia and the Los Santos tungsten mine in Spain. Over the past three years he has led the feasibility, financing and development of an industrial minerals project in Canada. Mr. Bird has a Bachelor of Applied Science in Geology from LaTrobe University and is a member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors.
On February 13, 2017, Mr. Bird was granted 8 million stock options of the Company on the following terms, assuming continued employment: 2 million options will vest February 20, 2018 at an exercise price of 6p per share, 2 million options will vest February 20, 2018 at an exercise price of 8 p per share, 2 million options will vest February 20, 2019 at an exercise price of 10 p per share and 2 million options will vest February 20, 2019 at an exercise price of 12 p per share.
Tony Manini, Asiamet's Chief Executive Officer commented:
Asiamet is rapidly advancing towards a major milestone in its life as a Company. While this represents a very exciting time for all our stakeholders, the complexity and intensity of activities required to transition from exploration and feasibility studies through project financing to mine construction and operations in a developing country is very significant. As such we are very pleased to have attracted an executive of Peter Bird's calibre to join our operational team and I am looking forward to working closely with him to lead the Company through this next exciting phase. As Executive Chairman my commitment to the success of Asiamet remains unwavering and acutely focussed on business critical strategic matters. The addition of Peter's experience across all facets of the mining business in both major and junior company environments including recent project financing and development experience is highly relevant to Asiamet's current status. As a top rated mining analyst, investor relations manager and Managing Director his extensive capital markets experience will prove highly beneficial as we look to further expand our investor base. It speaks volumes for the quality of our project portfolio and team that Peter has elected to join Asiamet at this time and we warmly welcome him to the Company."
Companies and partnerships of which Mr Bird has been a director or partner in the last five years:
Other than as provided in this announcement, no other disclosures in relation to Mr Bird are required under Rule 17 and Schedule 2 of the AIM Rules for Companies.
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Deputy Chairman and CEO
For further information, please contact:
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Telephone: +44 (0) 7891 677 441
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Oliver Morse
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com / Oliver.Morse@rfcambrian.com
VSA Capital Limited
Andrew Raca / Justin McKeegan
Telephone: +44 20 3005 5004 / +44 20 3005 5009
Optiva Securities Limited
Telephone: +44 20 3137 1903
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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