04/02/2011 - 10:48

BC Iron's Young joins Waratah board

04/02/2011 - 10:48

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BC Iron managing director Mike Young has joined the board of Subiaco-based iron ore play, Waratah.

BC Iron's Young joins Waratah board

BC Iron managing director Mike Young has joined the board of Subiaco-based iron ore play, Waratah.

Waratah's full announcement is below:

The Board of Waratah (ASX:WGO) is delighted to welcome Mr Michael Charles (Mike) Young to the Board of Waratah as a non-Executive Director. Mr Young is currently the Managing Director of BC Iron Limited (BCI) and has been since it listed on the Australian Securities Exchange in 2006.

Mr Young, together with his Board and management team successfully steered BCI through the definition of the first resources, managed the feasibility study and negotiated the joint venture and rail access agreements with Fortescue Metals Group Limited. BCI placed its first ore on rail on 31 January 2011.

On 21 January 2011 BCI announced that the Regent Pacific Group Limited offered to purchase the outstanding shares in BCI by way of a scheme of arrangement for $345 million.

Mr Young is a geologist and a graduate of Queens University, Canada with a Bachelor of Science (Honours) degree in Geological Sciences. Experience to date includes base metals, iron ore, uranium and gold.

He has worked for Dominion Mining Limited, Mining and Resource Technology which became part of Golder Associates. Experience at Golder Associates includes Century Zinc, Escondida Copper in Chile and Koolyanobbing iron mine at Southern Cross. Mr Young was also a founding director of Bannerman Resources Limited.

Mr Young's experience has a strong focus on exploration, resource definition and development. He is a member of the Australian Institute of Geoscientists, the Australasian Institute of Mining and Metallurgy and a member of the Society of Economic Geologists.

Mike brings valuable iron ore exploration and development experience to Waratah and his appointment is an important part of the evolution of Waratah towards becoming a large scale iron ore producer.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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