O'Connor takes exec role for Perilya review

Base metals miner Perilya Ltd chairman Patrick O'Connor has taken an executive role to oversee a strategic review of the company during the March quarter of 2008.

The company said the review would cover corporate and operational activities and its objective was to refine its growth strategy to optimise the operational performance of its existing assets and to pursue merger and acquisition opportunities.

Mr O'Connor will maintain his new position until completion of the implementation phase of the review and any corporate transactions that may result.

Perilya is investing substantially in the development of its three major projects located in the Broken Hill, Mt Isa and Flinders regions of New South Wales as well as exploration in the surrounding tenements.

The company is expanding its operations at the Broken Hill mine through the development of an exploration decline at Potosi, re-developing the North mine via a development decline, conducting an open pit feasibility study into the Flying Doctor deposit and conducting exploration within a ten kilometre radius of the concentrator.

Since 2007 Perilya has successfully mined and stockpiled approximately 100,000 tonnes of contained zinc in the form of high grade zinc silicate (oxide) ore at the Beltana deposit located in the Flinders project in South Australia.

It is currently conducting a feasibility study into a similar project at the adjacent Reliance deposit.

The company is also targeting a 200,000 - 250,000 tonnes copper resource through extension drilling at its 112,000 tonne Mount Oxide copper project in the Mt Isa region in Queensland.

Perilya's exploration and development interests also extend to the state of Sabah in Malaysia.

Perilya Ltd sold its stake in takeover target Herald Resources Ltd for $39.3 million in December 2007.