Appointment of new Austral Director
Brisbane, Feb 14, 2022 AEST (ABN Newswire) - Copper producer Austral Resources Australia Ltd (
ASX:AR1) is pleased to announce the appointment of Mr Michael Hansel as a non-executive director, effective today.
Michael is a Corporate Partner of HopgoodGanim Lawyers specialising in mergers and acquisitions, IPO's, corporate governance, capital raisings, takeovers and joint ventures. Michael acts for a number of ASX-listed entities and large domestic and foreign private companies in the resources sectors. Michael has previously held a non-executive director position with ASX listed Metro Mining Limited.
Michael has consistently been recognised as a leading corporate, business & commercial lawyer by various legal publications including Doyle's Guide and The Best Lawyer TM.
His appointment will be put forward to shareholders for ratification as an ordinary resolution at the upcoming Annual General Meeting of the Company in May 2022.
The Board welcomes Michael's appointment and looks forward to his contribution in steering the Company forward as it moves to producing from its Anthill copper mine having recently secured an offtake and prepayment agreement with Glencore.
About Austral Resources Australia Ltd
Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.
Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.
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