be0d2fc2-4166-4794-a1e2-789e56ca7915.pdf
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ASX Code: MRP
Contact Details
PO Box 10977
109 Maritana Street
Kalgoorlie WA 6430
T +61 (0) 8 9068 1300
F +61 (0) 8 9068 1310
E [email protected]
ABN 98 139 357 967
Board of Directors & Senior Management
Ashok Parekh
Non-Executive Chairman
Jeff Williams
Managing Director
Peter Rozenauers
Non-Executive Director
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Appointment of Jeff Williams as Managing Director
MacPhersons Resources Limited (ASX: MRP) is pleased to announce the appointment of Mr Jeff Williams as Managing Director.
Mr Williams has extensive experience as Managing Director of Mineral Deposits Limited (MDL) for more than 14 years, and was responsible for the development of the Sabodala gold mine in Senegal, West Africa. The Sabodala gold mine is set to produce 200,000 - 215,000 ounces of gold this year.
He has more than 16 years' experience as a professional mining engineer and seven years in the banking industry. Mr Williams has been a Non-Executive Director of Macphersons Resources for the past 6 years. He also serves as an Executive Director for World Titanium Resources Limited and a Non- Executive Director for Alice Queen Holdings Limited.
As Managing Director, Mr Williams will be responsible for continuing to advance the company's Bankable Feasibility Study (BFS) for the Boorara Stage 1 Gold Project, and is looking forward to bringing the project into production.
Commenting on the appointment, Mr Williams said, "The opportunity to advance the project to production following four years of testing and development is exciting for MRP".
The company also announces that outgoing CEO, Mr Brendan James, will continue to provide his invaluable contribution to the BFS and metallurgy in a consulting capacity. The board of MacPhersons would like to thank Brendan James for his contribution to the company as the company CEO.
The Boorara BFS continues to gather momentum and is still on track to be completed in 2016.
Ashok Parekh
Non Executive Chairman MacPhersons Resources Limited
For more information on MacPhersons Resources Limited and to subscribe for regular updates, please visit our website at: www.mrpresources.com.au or contact our Kalgoorlie office on [email protected] or 08-9068-1300.
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Details of Mr Williams Remuneration
Pursuant to the ASX Listing Rule 3.16.4 the Company confirms the material terms of the Employment Agreement ("Agreement") between the Company and Mr Williams.
Mr Williams is engaged as an executive director of the Company pursuant to the Agreement, unless otherwise terminated in accordance with the Agreement.
The remuneration package is made up of:
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The Fixed Annual Remuneration is A$250,000 plus superannuation. Initially, Mr Williams will receive only 70% of the amount until the Board decision to approve an MRP development project. Following this decision, Mr Williams will then receive 100% of the Fixed Annual Remuneration;
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Performance based incentive amounts that may be paid in cash or securities as determined by the Board from time to time.
The Agreement may be terminated with immediate effect by written notice for specified serious breaches. Otherwise, the Agreement may be terminated by either Party at any time without cause by giving not less than 3 months' notice in writing.
The Agreement contains additional provisions considered standard in an agreement of this type.
Figure 1: Location of the Boorara Gold Project 10km east of Kalgoorlie's Superpit gold mine and 1km southwest of the Nimbus silver-zinc-gold mine.
About MacPhersons
MacPhersons Resources Ltd (MRP) is a Western Australian resource company with a number of advanced gold, silver and zinc projects.
The company's long term objective is the development of its existing assets and unlocking the full potential of its 100% owned highly prospective Boorara/Nimbus and Coolgardie projects.
For more information on MacPhersons Resources Limited and to subscribe for regular updates, please visit our website at: www.mrpresources.com.au or contact our Kalgoorlie office on [email protected] or - 08 9068 1300.
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