Talisman Mining Limited (ASX: TLM)
ASX
RELEASE
17 JUNE 2009
TALISMAN ANNOUNCES KEY BOARD APPOINTMENTS
PETER
LANGWORTHY AND BRIAN DAWES APPOINTED AS EXECUTIVE DIRECTORS
Talisman Mining Limited (ASX: TLM Talisman), is
pleased to announce that it has further strengthened its Board with the
appointment of experienced mining executives Mr Peter Langworthy and Mr Brian Dawes as Executive Directors.
Mr Langworthy and Mr
Dawes both
former key members of the successful Jubilee Mines NL executive management team
have been working for Talisman on a
consulting basis since February 2009.
Their appointment to the Talisman Board sees them join
other former Jubilee executive Gary Lethridge (former
Executive General Manager Corporate, now Talisman Managing
Director) and Alan Senior (former Non-Executive Director, now Talisman
Chairman). Mr Langworthy and Mr Dawes respectively
held the positions of Executive General Manager Exploration and Executive General
Manager Operations & Projects
at Jubilee.
The new appointments mark a significant step towards
achieving Talisman?s goal of
becoming a premier Australian resource company through a combination of organic
growth opportunities and a disciplined approach to acquisition and investment
opportunities.
The Company is currently completing a $5.2 million
share placement, with the second tranche subject to shareholder approval
towards the end of July. The funds raised will be used to strengthen Talisman’s
working capital position and underpin its growth strategy. This will include
the assessment and potential acquisition of new resource projects and the
evaluation and continued development of the Company’s existing project
portfolio.
In welcoming the appointments, Talisman’s Chairman,
Mr Alan Senior, said: We are delighted to have Brian and Peter on board and
part of the Talisman team. Both have outstanding credentials in their
respective areas of expertise; and, with Gary Lethridge
make up a formidable team which, worked extremely well during Jubilee’s
outstanding growth phase leading to its acquisition by Xstrata in 2007.
I am confident they will make a strong contribution to
Talisman, bringing an outstanding depth of knowledge and skills, a wide contact
network and the ability to contribute proactively to the development of the
Company and the enhancement of shareholder value, he added.
The appointment of Mr Dawes and Mr Langworthy
will be put to shareholders for their approval at the July 23 Shareholder Meeting
together with other resolutions including the issue of shares to Directors
purchased under the recent share placement and the issue of incentive options
to Mr Dawes and Mr Langworthy.
Mr Langworthy has
over 22 years experience in the exploration and mining industry, including
senior technical and management roles with a number of listed companies, most
recently with Jubilee and Xstrata Nickel Australasia. At Jubilee, he led the
team that discovered the Alec Mairs, Prospero/Tapinos
and Sinclair deposits which resulted in a major increase in the Company’s
resource base and provided the platform for a major uplift in the Company’s
value.
Mr Dawes has extensive experience in project
development and operational roles within the mining industry across Australia
and overseas, including Africa and the Middle East. Prior to his role at
Jubilee, he was General Manager Operations with ASX-listed nickel producer
Western Areas NL, where he was
responsible for the establishment of the Forrestania
Nickel Project and Flying Fox Nickel Mine development. Prior to that he was the
Group Mining Engineer with LionOre
Australia, part of the LionOre Mining
International group.
-
ENDS -
For further information, please contact:
Gary Lethridge Managing
Director on: +61 8 9380 4230
For media inquiries, please contact:
Nicholas Read Read Corporate on +61 419 929 046