Corporate Restructure - Appointment of Non-Executive Chairman
- Appointment of Non-executive Chairman
- Gold strategy focus on extracting shareholder value from the 484,000 ounce Aucu gold deposit
- Cobalt strategy focus on resource definition drilling to crystallise cobalt-nickel value at Australian projects
Mr Gardner is an engineer with extensive experience bringing mines into production. Mr. Gardner graduated from the University of Melbourne in 1962 with a Bachelor of Engineering (Mechanical) degree and is a Fellow of the Institution of Engineers Australia. He also holds a Master of Business Administration degree from Curtin University, Western Australia.
Mr Gardner has held directorships and senior management positions with Hawker Siddeley Engineering Pty Ltd, Comsteel Vickers/ANI, Minproc Engineers Pty Ltd and Broken Hill Metals NL between 1970 and 1990. From 1993-2006 he acted at Chief Engineer for Canadian Company Guinor Gold Corporation. He acted as Executive Chairman of Ghana Manganese Company (2000-2005), rebuilding it into a major manganese carbonate producer. Since 1996, he has developed and managed the 100,000 ounces per annum Lero gold Heap Leach Project and completed the LEFA Corridor project study and supervised the EPCM contractor constructing its 350,000 ounces per annum multiple open pit and CIP Plant project in remote Guinea, West Africa.
In 2010 he was the inaugural Chair of Viking Mines Limited until retiring in 2017. During that chairmanship he supervised the expansion of the Akoase resource to 780,000 Oz gold and the subsequent sale of that Asset. A founder non-executive director of Mincor from 1996 until he retired in 2017, he served through the company's transition from a West African gold explorer in to its development as a substantial nickel sulfide miner and gold miner in the Kambalda region of WA.
We warmly welcome Jack to the team and believe his wide ranging experience across different commodities in both production and exploration phases will be of significant value to the Company.
As part of the Board re-structure the Company's Michael Langoulant will step down as Chairman but remain as an executive director. The changes allow the Company to adhere more closely to the Corporation Act on Corporate Governance and will strengthen the board as the Company focusses on developing the Aucu Gold deposit.
The Company will also focus on extracting value from its 90%-owned Aucu Gold Project in the Kyrgyz Republic, which contains an inferred gold resource of 2.95 million tonnes at 5.1 g/t Au for 484,000 ounces of gold and an inferred copper resource of 17.2 Mt at 0.37% copper containing 64,000 tonnes of copper. Recent geochemical sampling across the project porphyry area has highlighted multiple significant gold-copper and base metals targets highlighting the scale potential of this mineralised system.
Australian Cobalt Nickel Focus
The Company will focus on its cobalt and nickel projects located south-east of Laverton. Each of these projects have the potential to become significant mines in the near term. Although the projects are at early stages, White Cliff believes each could potentially support a stand-alone development of a size and quality that could rival some similar projects being promoted by the leaders in the Australian cobalt-nickel sector. The White Cliff projects also benefit from being located close to Glencore's existing Murrin Murrin nickel-cobalt plant and GME Resources' proposed Mt Kilkenny nickel-cobalt plant, which offer alternative development options.
About White Cliff Minerals Ltd
White Cliff Minerals Ltd is a Gold, Copper, Cobalt, Nickel resources and mining company listed in Australia (ASX:WCN). The Company is focused on developing low cost high value mineral deposits that have near term cash flow potential.
Major projects include the Aucu gold deposit that contains 484,000 ounces of gold (3mt at 5.1 g/t) starting at surface and Chanach copper deposit that contains 64,000 tonnes of copper (17.2Mt at 0.37% copper). Both projects have substantial blue sky potential with drilling covering only 5% of the known structures. In Australia the company is developing the Coronation Dam cobalt–nickel deposit where a maiden resource will be announced in the late 2018.
White Cliff Minerals Ltd