Andrew Penkethman appointed CEO to lead Ardea on advancing it's three-pronged value creation strategy
Appoints Chief Executive Officer
Perth, Feb 28, 2019 AEST (ABN Newswire) - Ardea Resources (
ASX:ARL) (ARRRF:OTCMKTS) ("Ardea" or "the Company") is pleased to announce that Mr Andrew Penkethman has been appointed as Chief Executive Officer, effective from 1 April 2019.
Mr Penkethman is a resources sector executive and geologist with 25 years' experience in the resources industry. His technical skills include project evaluation, early stage and near mine exploration, resource development, feasibility study management, permitting, stake holder engagement and mine development across open pit and underground operations within Australia and overseas. Commodities experience includes gold, base metals, battery minerals and energy commodities over a range of geological settings.
Andrew's technical expertise is complimented by over 13 years in executive roles with a strong corporate focus including strategic partner processes, joint venture management, financial modelling, and project acquisition and divestment. Andrew has ASX, AIM and TSX equity markets experience.
Mr Penkethman holds a Bachelor of Science degree from the University of Wollongong, is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists.
Andrew Penkethman, incoming CEO said:
"I am impressed by the quality and diversity of the Ardea project portfolio which includes:
1. the large scale and strategic Goongarrie Nickel Cobalt Project advancing through feasibility to demonstrate it is a compelling development opportunity;
2. an extensive, under-explored yet highly prospective gold and nickel sulphide land position in the heart of the WA goldfields with any discoveries made expected to add significant Company value; and
3. multiple under explored base and precious metals projects in the Lachlan Fold Belt in NSW.
This combination of three quality Australian project portfolios, a team of well managed and committed industry professionals and a strong cash position, provides Ardea with multiple options to create value for the benefit of all stake holders and shareholders across the communities the Company operates in. I look forward to helping realise this value by working with a highly experienced and dedicated Board of Directors and building upon the quality work already completed by the Ardea team."
Ardea Executive Chair Ms Katina Law said:
"After a detailed search process, Andrew's energy and combination of corporate and technical experience was identified as being the right blend of skills to help add further value to all facets of the Ardea business. The Board look forward to working with Andrew to further advance our three-pronged value creation strategy and continue delivering optimum value for our shareholders."
About Ardea Resources Ltd
Ardea Resources Ltd (ASX:ARL) (OTCMKTS:ARRRF) (FRA:A91) is an ASX listed resources company, with 100% controlled Australian based projects, prioritising a three-pronged value creation strategy which is:
- development of the Goongarrie Nickel Cobalt Project, which is part of the Kalgoorlie Nickel Project, a globally significant series of nickel-cobalt deposits which host the largest nickel-cobalt resource in the developed world, coincidentally located as a cover sequence overlying fertile orogenic gold targets;
- advanced-stage exploration at WA gold and nickel sulphide targets within the Eastern Goldfields world-class nickel-gold province; and
- the demerger of the NSW gold and base metal assets with planned in-specie share distribution, with projects located within the Lachlan Fold Belt world-class gold-copper province.
| ||
|
