Perth, July 10, 2008 AEST (ABN Newswire) - The Board of Directors of ABM Resources NL (ASX:ABU) is pleased to announce the appointment of Mr Simon Rigby and Mr Joe Ariti as Non-Executive Directors of the Company, effective 31 July 2008.
Mr Rigby has twenty years experience in mineral exploration and business development predominantly with major mining companies including Newmont Australia, Newcrest Mining, Homestake Gold of Australia and most recently Barrick Gold Corporation where, until July 2007, he held the position of Exploration Manager - Australia and PNG. He is currently Principal of Beaumont Geological Consulting which he founded in 2007. Mr Rigby has broad geological experience with a strong knowledge of gold and gold-copper mineralised systems and has been involved in the discovery and resource definition of such systems. In addition to working throughout Australia, Mr Rigby has sound offshore exploration experience including working in the Solomon Islands, Papua New Guinea and Greece. He is a geologist with a Bachelor of Applied Science - Applied Geology from the Queensland Institute of Technology and a Bachelor of Science - Geology Honours (first class) from the James Cook University of North Queensland and is a member of the Australian Institute of Geologists.
Mr Ariti is a mining industry executive with of twenty years experience in technical, management and executive roles in assessing, developing and managing mining projects and companies in Australia and overseas. He has been involved in the development and management of both open cut and underground mining projects in Australia, Africa, Indonesia and Papua New Guinea. Mr Ariti is a Metallurgist and holds a Bachelor of Science and Diploma in Mineral Science from Murdoch University, a Masters Degree in Business Administration from the Edinburgh Business School (UK) and is a member of the Australasian Institute of Mining and Metallurgy. He is also currently a Non-Executive Director of ASX listed Azumah Resources Limited (ASX:AZM) and Swick Mining Services Ltd.
The appointment of Mr Rigby and Mr Ariti provides considerable additional exploration and mining industry expertise and experience to the Board which will further assist the Company in growing its strong presence in Australia and Africa. Under the terms of their appointment, the Company proposes to issue 800,000 fully paid ordinary shares to each of Messrs Rigby and Ariti. These shares will not be issued under the Company's Employee Share Plan (EPS) but will have the same terms applied as set out in the EPS. This issue is subject to shareholder approval at the 2007/08 AGM or the next Extraordinary General Meeting, whichever is held the earliest. The 800,000 share parcels shall be issued immediately, but will be subject to performance and continuity conditions with restrictions on the first 400,000 shares for each recipient to be removed on 30 September 2009 and 200,000 shares for each recipient respectively on 30 September 2010 and 30 September 2011.
The Board also wishes to announce the resignation of Mr Dave Reynolds from the Board effective from 31 August 2008. He recently retired from his position of Managing Director of KEMET Corporation's China operations. Dave has been on the Board since 2003 and his contribution has been highly valued by the Board. We wish him well in his future activities.
About ABM Resources NL
ABM Resources (ASX:ABU) is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
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