Keegan Appoints Robert Sali to Board of Directors
May 03 2012 - 1:58PM
Marketwired
Keegan Resources Inc. (TSX:KGN)(NYSE Amex:KGN) ("Keegan" or the
"Company") is pleased to announce that Robert Sali has been
appointed a director of the company effective immediately. Mr.
Sali, a resident of Singapore, is an experienced mining financier
who will serve as an independent director.
Mr. Sali began his career in the financial world in 1987 at the
brokerage firms of Levesque Beaubien Inc. and subsequently with BMO
Nesbitt Burns. In 1999 he established the operation of Dundee
Securities in western Canada, where he directed operations in the
equity sales and trading departments.
Shawn Wallace, CEO of Keegan, commented upon the appointment: "I
would like to welcome Mr. Sali to the board of directors of Keegan
where his experience will prove invaluable. The Company is well
financed with $197 million in cash and no debt. Our objective is to
continue to focus on prudent deployment of this capital where it
will maximize shareholder value. Keegan's management team is
continuing its work to better understand and enhance the value of
the multi-million ounce Esaase Gold Project through ongoing
optimization studies, expansion drilling and strategic
acquisitions."
On Behalf of the Board of Directors,
Shawn Wallace, Chief Executive Officer, Director
About Keegan Resources Inc.
Keegan is a junior gold company offering investors the
opportunity to share ownership in the rapid exploration and
development of high quality pure gold assets. The Company is
focused on its wholly owned flagship Esaase Gold project located in
Ghana, West Africa, a highly favourable and prospective
jurisdiction. Managed by highly skilled and successful technical
and financial professionals, Keegan is well financed with no debt.
Keegan is also strongly committed to the highest standards for
environmental management, social responsibility, and health and
safety for its employees and neighbouring communities. Keegan
trades on the TSX and the NYSE AMEX under the symbol KGN. More
information about Keegan is available at
www.keeganresources.com.
Forward Looking and other Cautionary Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address estimated
resource quantities, grades and contained metals, possible future
mining, exploration and development activities, are forward-looking
statements. In particular, Preliminary Economic Assessments are
preliminary in nature, including Inferred Mineral Resources that
are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be
categorized as Mineral Reserves, and there is no certainty that the
findings of the Preliminary Assessment will be realized. Although
the Company believes the expectations expressed in the Preliminary
Economic Assessment and other forward-looking statements are based
on reasonable assumptions, such statements should not be in any way
construed as guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices for metals, the conclusions of detailed
feasibility and technical analyses, lower than expected grades and
quantities of resources, mining rates and recovery rates and the
lack of availability of necessary capital, which may not be
available to the Company on terms acceptable to it or at all. The
Company is subject to the specific risks inherent in the mining
business as well as general economic and business conditions. For
more information on the Company, Investors should review the
Company's annual Form 20-F filing with the United States Securities
Commission and its home jurisdiction filings that are available at
www.sedar.com.
Information Concerning Estimates of Measured, Indicated and
Inferred Resources This news release also uses the terms 'indicated
resources' and 'inferred resources'. Keegan Resources Inc. advises
investors that although these terms are recognized and required by
Canadian regulations (under National Instrument 43-101 Standards of
Disclosure for Mineral Projects), the U.S. Securities and Exchange
Commission does not recognize them. Investors are cautioned not to
assume that any part or all of the mineral deposits in these
categories will ever be converted into reserves. In addition,
'inferred resources' have a great amount of uncertainty as to their
existence, and economic and legal feasibility. It cannot be assumed
that all or any part of an Inferred Mineral Resource will ever be
upgraded to a higher category. Under Canadian rules, estimates of
Inferred Mineral Resources may not form the basis of feasibility or
pre-feasibility studies, or economic studies except for Preliminary
Assessment as defined under 43-101. Investors are cautioned not to
assume that part or all of an inferred resource exists, or is
economically or legally mineable.
Neither TSX Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Keegan Resources Inc. Shawn Wallace Chief Executive
Officer, Director 604 683 8193 or Toll Free: 1 800 863 8655 604 683
8194 (FAX)info@keeganresources.com www.keeganresources.com
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