Kingsrose Mining Limited (ASX: KRM) (Kingsrose or Company) announces that Fabian Baker has tendered his resignation as Managing Director and as a Director of the Company and the Board of Directors has accepted his resignation effective immediately.
Kingsrose is pleased to announce that Terry Holohan has been appointed as Acting Chief Executive Officer for an initial period of six months under a consulting contract. (Terms and conditions of his consulting contract are summarised in Appendix A to this news release). Mr Holohan, a qualified metallurgist, is a highly experienced mining executive with over 40 years mining industry experience including nine years in the role of CEO of several mining companies involved in exploration and production of various commodities including gold, platinum group metals, nickel and copper.
He has worked in many countries including Africa, Asia, North America and Australia. His most recent role was Managing Director of Resolute Mining Limited where he oversaw optimisation of its flagship >10Moz Au Syama gold mine. During his career Terry has managed several major project studies to bankable feasibility stage. Terry has also successfully managed multi open pit gold mines and PGM hydrometallurgical operations. While Terry is very 'hands-on' technically, he also brings extensive business experience in acquisitions and IPOs, as well as raising project finance through both debt and equity routes.
Dr Mike Andrews, Kingsrose Chairman said: 'Kingsrose is grateful to Fabian for managing its exit from Indonesia, building our project portfolio in Scandinavia with a very strong exploration team and establishing our alliance with BHP over two prospective regions in Fennoscandia, I have enjoyed working with Fabian and wish him well in his future ventures. 'I am delighted to welcome Terry to Kingsrose.
Terry's extensive experience in the business of mining and project management and his vast practical technical expertise in various commodities including gold, copper, nickel and PGE's will greatly assist in exploration and evaluation of our existing projects in Norway and Finland, and enhance our search for attractive acquisitions. Various gold project opportunities at feasibility stage or near-term production stage in mining friendly jurisdictions are being evaluated by Kingsrose currently'.
Contact:
Dr Mike Andrews Scott North
Chairman Corporate Development Manager
Tel: +62 811131679
Email: mike.andrews@kingsrose.com
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