Medusa Mining Limited Retirement and Appointment of Chairman (6575T)
November 22 2013 - 2:01AM
UK Regulatory
TIDMMML
RNS Number : 6575T
Medusa Mining Limited
22 November 2013
MEDUSA MINING LIMITED
ABN: 60 099 377 849
Unit 7, 11 Preston Street
Como WA 6152
PO Box 860
Canning Bridge WA 6153
Telephone: +618-9367 0601
Facsimile: +618-9367 0602
Email: admin@medusamining.com.au
Internet: www.medusamining.com.au
22 November 2013
RETIREMENT AND APPOINTMENT OF CHAIRMAN
(ASX & LSE: MML)
Medusa Mining Limited ("Medusa" or the "Company") advises that
its Non-executive Chairman, Mr Geoff Davis, will retire from the
Board at the conclusion of today's Annual General Meeting. He will
be succeeded by current Non-executive Director, Mr Andrew Teo.
Retirement of Mr Geoff Davis
Geoff is the founding Managing Director of the Company, which
was incorporated in February 2002 and subsequently gained
admittance to the Australian Securities Exchange ("ASX") on 23
December 2003. Medusa is now one of the premier gold producers
listed on the ASX.
Geoff is a geologist by profession and spent most of his working
career since 1978 in Southeast Asia, primarily in the Philippines
and Indonesia exploring mainly for epithermal gold deposits. This
experience proved invaluable as he was able to identify the Co-O
Mine area in East Mindanao as a potentially good address for high
grade mineralisation.
The "Co-O Mine", as we affectionately know it, is integral to
the success of the Company. The association with Co-O started as a
joint venture in 2003 with Philsaga Mining Corporation, progressing
to effective sole economic rights in December 2006. Geoff played an
essential role in these achievements for the Company.
Having achieved significant milestones as Managing Director,
including in realising his vision for the Co-O Mine and Medusa,
Geoff moved to the role of Non-executive Chairman in June 2011.
As the new Co-O Mill expansion is nearing completion of its
commissioning, a new era is about to begin, and Geoff feels it is
an appropriate time to hand on the baton and pursue other
interests. He will remain available to the Company on an as
required basis, and will continue his role with the Philippines
subsidiary companies.
The Board wishes to thank Geoff for all his efforts over more
than 11 years in guiding Medusa's journey to becoming a successful
and expanding low cost gold mining company.
Appointment of Mr Andrew Teo
The Board advises that Mr Andrew Teo will take the position of
Chairman after today's Annual General Meeting. Andrew is a
Non-executive Director of the Company, having joined the Company in
February 2010.
Andrew, a commerce graduate (accounting major) from the
University of Western Australia, is a member of CPA Australia and a
Fellow of the Taxation Institute of Australia. He has 37 years'
extensive and diverse experience in accounting, treasury, taxation,
legal and business administration, including in the fields of
M&A, amongst others. Andrew's experience also spans across
several industries, including mining services.
He is currently the CFO/Executive Director of BGC (Australia)
Pty Ltd, a vertically integrated private Company involved in
manufacturing (building products), construction (residential and
commercial), property development, transport, quarrying, civil and
mining services, with a turnover in excess of AUD2.5 billion and
employs 8000 plus staff Australia wide. Andrew has been with BGC
for some 30 years.
Peter Hepburn-Brown, Managing Director of Medusa, commented:
"Geoff will be remembered as the driving force getting the
Company to where it is today. We have all benefitted from Geoff's
leadership, and he leaves behind the legacy of a strong company and
a strong management team. In that regard, Geoff has always
acknowledged the efforts of our team in achieving the Company's
significant milestones, from the IPO through to successful mine
development. We are all very grateful for Geoff's unstinting
support.
I wish to extend my thanks on behalf of the Board, and I'm sure
on behalf of many past and present shareholders. We wish him all
the very best for the future.
I also wish to welcome Andrew to the Chairman's role and I look
forward to a long and successful association."
For further information please contact:
Australia
Medusa Mining Limited +61 8 9367 0601
Peter Hepburn-Brown, Managing
Director
United Kingdom
SP Angel Corporate Finance LLP +44 (0)20 3463
(Financial Adviser & Broker) 2260
Ewan Leggat/Laura Littley
This information is provided by RNS
The company news service from the London Stock Exchange
END
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