Kalgoorlie-based nickel and gold explorer Heron Resources Ltd has announced three key appointments to its subsidiary, the former Regent Resources, as the company prepares for its Initial Public Offering planned for the end of 2006.
Kalgoorlie-based nickel and gold explorer Heron Resources Ltd has announced three key appointments to its subsidiary, the former Regent Resources, as the company prepares for its Initial Public Offering planned for the end of 2006.
Now known as Rubicon Resources Ltd, the company's key projects include some 6500 sqkm of gold and base metal tenements primarily in Western Australia, including a 3000 sqkm project in the Musgrave province.
The company has appointed as its new chairman John Shipp, formerly the president of Barrick Gold Corporation's Australia-Africa business unit, as well as being general manager of both the Kalgoorlie KCGM Superpit and the Boddington joint venture.
He will be joined on the board by geologist Peter Eaton as managing director, Sam Middlemas as chief financial officer and company secretary, and Heron's current managing director Ian Buchhorn as non-executive director.
Mr Shipp said the new board would lay a solid foundation from which to drive company value.
The full Rubicon announcement is pasted below
Rubicon Resources Limited, the renamed gold and base metal focused subsidiary (100%) of Heron Resources Limited, is pleased to announce the appointment of a high-calibre management team as it prepares an Initial Public Offering (IPO) to list on the Australian Stock Exchange towards the end of 2006.
Formerly known as Regent Resources, Rubicon controls a large gold and base metal-focused groundholding primarily in Western Australia, with the potential for significant discovery.
To drive the Company through the IPO process and onto exploration and development, Rubicon has appointed a board and management team with a strong portfolio of corporate, mining, exploration, project
development and commissioning experience.
Former President of Barrick Gold Corporation's Australia Africa Business Unit and KCGM Superpit General Manager, John Shipp has been appointed as Chairman of Rubicon, while former Aditya Birla Minerals Limited General Manager (Geology and Business Development) Peter Eaton has been appointed Managing Director of Rubicon. During his tenure at Birla, Mr Eaton was part of the commissioning team for the Nifty underground copper mine
Rubicon has also appointed Sam Middlemas as Chief Financial Officer and Company Secretary and Heron Managing Director Ian Buchhorn will remain as a non executive director.
Mr Shipp said the appointment of such a well-credentialed board and management team was a great achievement that laid a solid foundation from which to drive company value.
"Significantly, the individuals that make up the board and management have important core competencies and expertise in exploration, mining and project development that are tried and proven," Mr Shipp said.
"This is not only a critical determinant to successful mining projects, with long lead times and numerous variables, but it is also something that is currently in very tight supply in the Australian resources sector."
Mr Eaton said the Company was now uniquely placed to take advantage of the large and highly prospective ground-holding that Heron has compiled.
"It is expected that Rubicon will list with six major project areas as well as the non-nickel exploration rights over parts of Heron's Kalgoorlie Nickel Project, much of which is also particularly prospective for gold mineralization," Mr Eaton said.
"Heron has built this fantastic project portfolio and now Rubicon, once we list, will be well armed to capitalize on these projects through exploration and development success."
Rubicon's key projects include the 3000km² Warburton Iron Oxide Copper Gold (IOCG) project in the Musgrave province, the 1500km2 gold and Volcanic Massive Sulphide (VMS)-style base metal Yindarlgooda Project located east of Kalgoorlie and the Kalgoorlie North Project, which comprises some 2000 km2 square kilometres of prospective gold and base metal tenements between Kalgoorlie and Leonora.
