26/07/2006 - 10:09

Alkane appoints Gandel to board after placement

26/07/2006 - 10:09

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Perth-based gold and base metals miner and explorer Alkane Exploration Ltd has appointed Melbourne businessman Ian Gandel to its board as a non-executive director, following a 24.9 million share placement with one of his companies, Abbotsleigh Ltd.

Alkane appoints Gandel to board after placement

Perth-based gold and base metals miner and explorer Alkane Exploration Ltd has appointed Melbourne businessman Ian Gandel to its board as a non-executive director, following a 24.9 million share placement with one of his companies, Abbotsleigh Ltd.

Mr Gandel, the son of Melbourne property magnate John Gandel, has had an involvement in the construction and leasing of Gandel shopping centres and has been a director of Gandel Retail Trust. He has previously been involved in the Priceline retail chain and the CEO chain of serviced offices.

Through his private investment vehicles, Mr Gandel has been in investor in the mining industry since 1994. Gandel Metals Pty Ltd is currently a substantial holder in a number of publicly listed Australian companies and now holds and explores tenements in its own right in Victoria and Western Australia.

In another Alkane board change, Lindsay Colless has stepped down as a director after 20 years on the board to concentrate on other business interests. Mr Colless continues as Company Secretary to the Group.

Earlier this month, the company appointed former general manager of operations of Aztec Mining Co Ltd John Dunlop to its board as non-executive chairman, in the place of Ian Cornelius.

 


The full text of the company's announcement to the Stock Exchange is pasted below

The Board of Alkane is pleased to announce that Mr Ian Jeffrey Gandel LLB, BEc, FCPA, FAICD has been appointed a non-executive director of the Company. Mr Gandel (49) is a successful Melbourne businessman with extensive experience in retail management and retail property. He has had an involvement in the construction and leasing of Gandel shopping centres and has been a director of Gandel Retail Trust. He has previously been involved in the Priceline retail chain and the CEO chain of serviced offices.

Through his private investment vehicles, Mr Gandel has been in investor in the mining industry since 1994. Gandel Metals Pty Ltd is currently a substantial holder in a number of publicly listed Australian companies and now holds and explores tenements in its own right in Victoria and Western Australia. Mr Gandel is a non-executive director of Alliance Resources Ltd.

Further, Mr Lindsay Colless, after some 20 years on the Board, has stepped down as a Director to concentrate on other business interests. Mr Colless continues as Company Secretary to the Group.

The Board of Alkane Exploration Ltd now comprises: Mr John S F Dunlop Non-executive Chairman Mr D Ian Chalmers Technical Director Mr Ian R (Inky) Cornelius Non-executive Director Mr H David Kennedy Non-executive Director Mr A D (Tony) Lethlean Non-executive Director Mr Ian J Gandel Non-executive Director

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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