Perth, Aug 22, 2011 (ABN Newswire) - Venus Metals Corporation Limited (ASX:VMC) is pleased to announce the appointment of Mr Patrick Tan as the Company's Chief Financial Officer and Company Secretary (Full-Time). The appointment will be effective 1st September 2011.
Mr Tan was United Minerals Corporation's CFO and Company Secretary until it was 100% acquired by BHP Billiton (ASX:BHP) (NYSE:BHP) and delisted from the ASX. Mr Tan played a key role in the due diligence process and preparation of the scheme booklet for the Scheme of Arrangement with BHP Billiton.
Mr Tan was also responsible for preparation and evaluation of project costing and financial models across mine, rail and port for proposed iron ore production and Iron Ore Off-take Agreements with Chinese investors.
He has a strong working knowledge in ASX Listing rules and ASIC requirements.
The Board wishes to thank Mr Sergio Noto, part time Company Secretary for his services to the Company. Mr Noto has resigned effective 1st September 2011.
Venus Metals Corporation Limited (ASX:VMC) current projects consist of the Yalgoo Iron Ore Project which is located within the Murchison mid west region of Western Australia which is an emerging multi-billion dollar Chinese and Japanese iron ore investment province. The Yalgoo Project is subject to a formal farm-in agreement with HD Mining & Investment, a subsidiary of Shandong Provincial Bureau or Geology & Mineral Resources (SDGM) involving an $8m sole spend by HD Mining to earn a 50% interest in the Iron Ore Project. Once the joint venture is formed if Venus Metals elects not to contribute it will receive a 4.5% gross iron ore royalty from any production from the Yalgoo Iron Ore Project.
The company also has 3 super projects being Argyle North, Telfer North and Tropicana East projects. The focus of the super projects is for the discovery of world class deposits within concealed parts of the lower proterozoic orogenic belts which host the majority of Australia’s giant ore bodies including Argyle (diamonds), Telfer (gold), Olympic Dam (iron oxide copper gold), Broken Hill (base metals) and Mt Isa (base metals, IOCG).