24 SEPTEMBER 2007
MONTO MINERALS LIMITED ("Monto" or The "Company")
Mr Mark McCauley appointed to Monto Minerals Board
Resignation of Mr Peter Dowling AM
The Board Monto is pleased to announce the appointment of Mr Mark
McCauley to the Board of the Company as a non-executive director with
effect from 25 September 2007.
Mr Mark David Huston McCauley (38) is a qualified mining engineer
with a strong financial background having been in operations with
M.I.M. Holdings Limited and later Chief Financial Officer of Felix
Resources Limited for more than three years during which time it was
transformed into a significant resources company, its market
capitalisation having increased from $30 million to $1 billion. Mr
McCauley is currently Managing Director of RMM Capital Pty Ltd, a
Queensland-based private equity firm. Mr McCauley has in the last 5
years been a Director of Resource Management & Mining Pty Ltd,
Yarrabee Coal Co Pty Ltd, South Australian Coal & Energy Pty Ltd and
Minerva Coal Mining Pty Ltd. He no longer holds these Directorships.
No further information falls to be disclosed under Schedule Two
paragraph (g) of the AIM rules for companies.
Mr McCauley will join the Audit Committee of the Board of Monto.
The Chairman of Monto, Mr. Peter Slaughter said that Mr McCauley
would bring to the Board of Monto an excellent skill set and mix of
experience mainly in the resources sector.
The Board of Monto also announces today the resignation of Mr Peter
Dowling AM from the Board, with effect from the Annual General
Meeting on 12 November 2007.
Mr Dowling is the longest serving current non-executive Director of
Monto, having been on the Board for eight years. As an experienced
accountant and professional company director, he has made a
significant contribution to the Company.
Mr Slaughter commented "His perseverance and vision have been pivotal
in seeing the Company through to the Goondicum project's production
stage that we have now reached. In his role of Deputy Chairman, he
has provided me with wise counsel and sustained support. It is also
fitting that one of Mr Dowling's final duties as a Director will be
to attend the official opening of the Goondicum project, also
currently scheduled for 12 November 2007"
Mr Dowling has decided to step down as the Company moves from
development to the next phase as an industrial minerals producer, an
appropriate time to introduce new people. The Company will benefit
in this new era from Mr McCauley's mining and finance background, and
Mr Dowling's resignation enables Mr McCauley to be appointed without
increasing unnecessarily the size of the board.
In the absence of an immediately available and experienced director
to chair the Audit Committee, Mr Dowling has agreed to remain on the
committee until the 2008 Annual General Meeting and will chair the
committee until a new Chairman is selected. The Board is
appreciative of Mr Dowling's willingness to continue in this role to
allow sufficient time for a replacement to be appointed and inducted.
"The matter of the position of Deputy Chairman will be considered by
the Board of Monto after this year's Annual General Meeting," Mr
Slaughter said.
Enquiries to:
Geoffrey Moore
Monto Minerals Ltd +61 (0)7 3034 3100
Richard Brown
Ambrian Partners Limited 020 7776 6400
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