GGG Resources plc

GGG Resources plc

March 16, 2011 03:00 ET

GGG Resources plc (the "Company" or "GGG"): David McArthur Appointed as Finance Director

Opening of Perth Office And Publication of Supplementary Prospectus

LONDON, UNITED KINGDOM--(Marketwire - March 16, 2011) - The Directors of GGG Resources (AIM:GGG) today announce that David McArthur has been appointed to its Board as Finance Director with immediate effect. 

David Maxwell McArthur, 53, has been the Chief Financial Officer of GGG Australia Ltd, the Perth based-wholly-owned subsidiary of GGG Resources plc for the past six months. He was responsible for setting up GGG's new office in Perth, Western Australia, following GGG's acquisition of the Bullabulling gold mining property in May 2010.

A qualified chartered accountant, David McArthur has specialised in the corporate and project management of publicly listed companies in the resources sector for the past 28 years. He has extensive board experience in the management and administration of the corporate, financial and operational aspects of mining companies, including involvement in taking projects from early stages through to operations.

In 1988, David was CFO and part of the team that developed, and subsequently produced gold, from the Kundana gold mine just outside Kalgoorlie. As a member of the executive committee, David helped take the project through resource identification, pre feasibility, bankable feasibility, plant construction and open cut mining. 

In 1997, David was appointed CFO of Dioro Exploration NL, an ASX-listed Kalgoorlie-based gold company, producing over 100,000 ounces of gold per annum. In 2000 he was appointed Dioro's Finance Director, where he worked for a further 10 years prior to Dioro being taken over by Avoca Resources. As the Finance Director he helped take the company's project from first discovery through open pit mining then subsequently underground mining.

Jeff Malaihollo, Managing Director of GGG Resources, comments:

"We are delighted to announce David's appointment to the GGG Board as the Finance Director. David's appointment and the opening of our office in Perth are indications of our commitment to grow GGG in Western Australia and become a significant gold producer in the greater Kalgoorlie district, a task we believe David is ideally placed to assist with given his extensive executive experience in gold mining in Kalgoorlie. David is our first senior appointment in Australia, and he will be part of a growing Perth-based team with responsibility for Bullabulling, the exciting gold project which we plan to have back in production in 2013."

Directorships held by David Maxwell McArthur over the five years preceding today's appointment are as follows:

Current: GGG Resources plc
  GGG Australia Pty Ltd
  Lodestars Minerals Limited
  Audacious Resources Pty Ltd
  Broadway Management (WA) Pty Ltd
Previous: Xstate Resources Limited
  Dioro Exploration NL
  Aquacarotone Ltd
  Ellendale Resources NL

David McArthur owns 375,000 Options in the Company at 40p exercisable at any time up to 23 November 2015.

There are no further disclosures to be made for the purposes of Paragraph F of Schedule 2 to the AIM Rules.

Supplementary Prospectus

The Company also advise that the Supplementary Prospectus for the purpose of the ASX listing dated 11 March 2011 and 14 March 2011 are now available on the Company's website

Contact Information

  • GGG Resources plc
    Dr. Jeffrey Malaihollo
    01992 531820
    Gresham PR Limited (UK Media)
    Neil Boom
    07866 805 108
    Professional Public Relations
    David Brooks
    +61 8 9388 0944/ +61 433 112 936
    Westhouse Securities Limited (UK Nominated Adviser)
    Tom Price / Martin Davison
    020 7601 6100
    Collins Stewart Europe Limited (UK Broker)
    John Prior / Adam Miller
    020 7523 8350