West Perth WA (FSCwire) - IMX Resources (ASX: IXR, TSX: IXR, IXR.WT) (“IMX” or the “Company”) advises that it will be making a number of additional changes to its board and senior management team, effective from the end of September 2014.
The changes are designed to ensure that IMX has a strong leadership team in place as it transitions from being a South Australian iron ore producer to a Tanzanian minerals explorer with upcoming exploration programs to commence in October.
Mr Nick Corlis, who commenced with IMX earlier this year as General Manager Exploration, has been appointed to the Board as Executive Director-Exploration. Nick is a geologist with over 20 years of domestic and international experience in the resources sector, and was previously General Manager Business Development for Flinders Mines. Before that, he held senior management and technical roles with Perilya Limited, Golder Associates and WMC Limited. Nick has played a key role in the recent gold and graphite discoveries in Tanzania which will form the main focus of IMX’s upcoming activities.
The Company’s Chief Financial Officer, Mr Phil Hoskins, has been appointed Acting CEO. Phil has been CFO at IMX since January 2012. He is a Chartered Accountant who commenced his career at a large international accounting firm and has held senior corporate positions with several Australian and international listed companies.
IMX’s Company Secretary, Mr Stuart McKenzie, has been appointed to the combined role of General Manager Commercial and Company Secretary. Stuart has over 25 years’ experience in senior commercial roles. He was previously Company Secretary with Anvil Mining Limited and before that Treasurer and Company Secretary with Ok Tedi Mining Limited.
IMX’s Chairman, Dr Derek Fisher, will assume a more ‘hands on’ role to support the Company’s management team during this transition period. Dr Fisher has more than 40 years’ experience at all levels of the industry, and was co-founder and Director of the successful African copper miner Anvil Mining and co-founder and CEO/Managing Director of Moly Mines Limited.
IMX Chairman Derek Fisher said the changes were designed to put in place an appropriately qualified and capable board and management team to lead the Company forward, while also significantly reducing corporate and administrative overheads.
IMX will also be closing its South Australian office on 30 September, and will retain a small Perth office at Level 2, 41 Colin Street, West Perth and a regional office in Tanzania, both with significantly reduced staffing levels.
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DEREK FISHER
Chairman
For further information, please contact: Derek Fisher Chairman Tel: +61 8 8311 1110 Media Nicholas Read/Paul Armstrong – Read Corporate Telephone: +61 8 9388 1474 E: info@readcorporate.com.au | Phil Hoskins Chief Executive Officer Tel: +61 8 8311 1110 |
About IMX Resources Limited
IMX Resources Limited is an Australian-based exploration company, listed on the Australian Securities Exchange and Toronto Stock Exchange (‘TSX’), which is focused on exploring its 100%-owned Nachingwea Property in south-eastern Tanzania.
The broader, 6,800km2 Nachingwea Property includes the advanced Ntaka Hill nickel sulphide deposit and is also prospective for nickel and copper sulphide, gold and graphite mineralization. IMX has recently identified some exciting new gold and graphite targets which it plans to drill in Q4 2014.
Visit: www.imxresources.com.au
Cautionary Statement: The TSX does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
On 18 June 2014 IMX announced the appointment of Voluntary Administrators to Termite. Termite is wholly-owned by an incorporated joint venture entity, the board of which comprises nominees of IMX and Taifeng Yuanchuang International Development Co., Ltd. Termite holds the joint venture's interests in the Cairn Hill iron ore mine, located 55 kilometres south-west of Cooper Pedy in South Australia.
The first meeting of Termite creditors was held on 30 June 2014. The Voluntary Administrator's final report to creditors is expected to be issued on or around 15 September 2014 and the second meeting of creditors is anticipated to take place on or before 24 September 2014. IMX continues to assist the Voluntary Administrators as appropriate, towards finding the best possible outcome for Termite.
Forward-looking Statements: This News Release includes certain “forward‐looking statements”. Forward-looking statements and forward-looking information are frequently characterised by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “could” occur. All statements other than statements of historical fact included in this release are forward‐looking statements or constitute forward-looking information. There can be no assurance that such information of statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. Important factors could cause actual results to differ materially from IMX’s expectations.
These forward-looking statements are based on certain assumptions, the opinions and estimates of management and qualified persons at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements or information. These factors include without limitation the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, the ability of contracted parties (including laboratories and drill companies to provide services as contracted), uncertainties relating to the availability and costs of financing needed in the future and other factors.
IMX undertakes no obligation to update forward-looking statements or information if circumstances should change. The reader is cautioned not to place undue reliance on forward-looking statements or information. Readers are also cautioned to review the risk factors identified by IMX in its regulatory filings made from time to time with the ASX, TSX and applicable Canadian securities regulators.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/imx09022014.pdfSource: IMX Resources Ltd. (TSX:IXR)
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