PERTH, WESTERN AUSTRALIA--(Marketwired - Aug. 29, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Troy Resources Limited (ASX:TRY)(TSX:TRY) is pleased to announce the appointment of Mr T Sean Harvey and Mr Richard Monti to the position of Non-Executive Directors.
The appointments arise from the Company having completed the off-market takeover of Azimuth Resources Limited and pursuant to the terms of the Takeover Bid Implementation Agreement that was entered between the parties at the time of announcing the offer.
Mr Harvey has over 20 years mining industry experience and has worked for over 10 years in Investment Banking in North America for Nesbitt Burns (now BMO) and Deutsche Bank, primarily focused on the basic industry (mining) sector. For the last 12 years, Mr Harvey has held senior executive and board positions with various mining companies, accumulating a wealth of South American experience.
Mr Harvey has an Honours B.A in Economics and Geography and an M.A in Economics, both from Carleton University. He also has an LLB from the University of Western Ontario and an MBA from the University of Toronto. He is also a member of the Law Society of Upper Canada.
Mr Monti has gained broad experience over a twenty-five year career working in the technical, commercial, marketing and financial fields of the international exploration and mining industry.
In 2004 he founded Ventnor Capital Pty Ltd, a boutique consultancy firm which provides technical, marketing, corporate advisory and investment banking services to junior and mi-cap listed resources companies.
Mr Monti has worked for a number of international and Australian companies, including Anaconda Nickel, RTZ Exploration, the North Group and the Normandy Group. Mr Monti has also held positions on the boards of a number of ASX and TSX listed and private mining companies.
Mr Monti has qualifications in Geology (Bachelor of Science with Honours from the University of Western Australia) and Finance (Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia).
With these appointments taking effect, the Board announces the resignation of Mr Chambers as a Director of the Company.
Mr Chambers was appointed a Director in April 2008 and has made a significant contribution to the Company's development since that time.
The Board expresses its gratitude to Mr Chambers for his participation at Board level and also the contribution he made as chairman of the Audit Committee and a member of the Remuneration Committee.
Mr Chambers resignation forms part of the agreement reached with Azimuth, in that one Troy Director would stand down following completion of the acquisition to minimise the Board size.
Mr Fred Grimwade will replace Mr Chambers as chairman of the Audit Committee. Mr Harvey will join the Audit Committee and Mr Monti the Remuneration Committee.
ABN: 33 006 243 750