Burston steps down from Carrick, Condor

Ian Burston has resigned as the chair of Condor Nickel and Carrick Gold, just two weeks after luring the founder of Sydney-based funds manager Equitilink, Laurence Freedman, to the companies.

In a statement to the Australian Securities Exchange the companies said Mr Burston had stepped down due to other work commitments.

Mr Burston wished Condor Nickel every success as it assesses, with a view to commercialising, its iron ore deposits as well as manganese and nickel opportunities.

Mr Burston only joined the board of Condor Nickel in March.

He also wished Carrick Gold every success as it develops what he believes will become a substantial and profitable venture.

Brian Martin has been appointed interim chairman of both companies.

Dr Martin has been a director of Condor since its ASX listing in June 2008 and has been a director of Carrick Gold for five years.

Dr Martin said both companies were very grateful for the leadership shown by Mr Burston.

See statements from Condor Nickel and Carrick Gold below:

Condor Nickel Ltd. (ASX Code: CNK) has appointed Dr Brian Martin as interim Chairman of the Company following the resignation of Mr Ian Burston.

Mr Burston resigned from his position on Carrick's Board due to other work commitments.

Mr Burston wished the Company every success as it assesses, with a view to commercialising, its iron ore deposits as well as manganese and nickel opportunities.

Dr Martin holds a doctorate in geochemistry and has been a Director of Condor since its ASX listing in June 2008.

Dr Martin said the Company is very grateful for the leadership shown by Mr Burston.

"Condor holds an attractive asset base of iron ore, manganese and nickel targets," Dr Martin said.

"The Company has over $4 million cash at bank with no debt and is well-positioned to continue exploration of its iron ore targets located some 450 kilometres north of Kalgoorlie," he said.

"Recent exploration at the Company's Dingo Range Project confirmed the presence of significant iron enrichment in surface gravels and outcrop over a strike distance of approximately 40 kilometres which is very encouraging."

"We are now assessing whether the iron ore deposits at Dingo Range are of sufficient quality to be considered 'Direct Shipping Ore'. This means that it would not necessitate significant processing."

Carrick Gold Ltd (ASX Code: CRK) has appointed Dr Brian Martin as interim Chairman of the Company following the resignation of Mr Ian Burston.

Mr Burston resigned from his position on Carrick's Board due to other work commitments. Mr Burston wished the Company every success as it develops what he believes will become a substantial and profitable venture.
Dr Martin holds a doctorate in geochemistry and has been a Director of the Company for 5 years.

Dr Martin said the Company is very grateful for the strength of leadership shown by Mr Burston and is pleased for the direction he has set for the Company, which will continue.
"Carrick Gold has a solid base from which to execute its exploration and resource development strategy," Dr Martin said.
"The Company is very well-positioned with cash at bank of over $20 million and no debt as it continues to explore its gold tenements located north-east of Kalgoorlie," he said.
"Carrick Gold is in the process of establishing a senior executive team in order to add depth to management and to carry out its stated goals."
"This will continue the Company's strategy which was recently reinforced with the appointment of Mr Laurence Freedman AM to the Board."
"This is a time of transition for Carrick as it moves from gold explorer to resource definition and towards production."
"The board is committed to ensuring that all necessary resources and expertise are available to execute the transformation."