AIM RELEASE
21st November 2007
Appointment of New Managing Director
* New Managing Director appointed; commencement date end January
2008
* Current Managing Director to remain on DML Board as a non
executive Director
The Board of Discovery Metals Limited (ASX:DML, AIM:DME, BSE:DML)
today announces the appointment of Mr Stuart Bradley (Brad) Sampson
(41 years) as Managing Director effective at the end of January 2008.
Mr Sampson's appointment follows the decision of the Company's
current Managing Director, Mr Jeremy Read, to step down after four
years in the position. Mr Read will remain on the Discovery Metals
Board as a non-executive Director.
Mr Sampson, who will be based at the Company's Brisbane head office,
is an internationally experienced mining engineer who has worked
extensively in open cut and underground mine operations and
developments in Southern Africa, Australia and the Pacific. In his
most recent role, Mr Sampson was General Manager for Emperor Mines in
Papua New Guinea, where he was responsible for the Tolukuma gold mine
and for overseeing Emperor's stake in the Porgera Joint Venture. He
was previously General Manager at Gold Fields Limited's St Ives Mine
in Western Australia and its Kloof operation in South Africa and has
also held positions with Anglo American, Ross Mining NL and Thiess
Ltd.
Discovery Metals' Chairman, Mr Gordon Galt, said:
"Discovery has entered a new and exciting phase since the
commencement of the pre-feasibility study on the Maun Copper Project
in northwest Botswana earlier this year. We plan to progress to the
bankable feasibility study stage by the middle of 2008 with a view to
commencing mining at the Maun Copper Project as soon as possible
thereafter. We are in the process of building the team that will
ensure we make the transition from explorer to developer successfully
and the Board is confident that Brad has the skills needed to lead
the Company through this transition and to ultimately develop Maun
into a long life mining project with associated benefits for all
stakeholders."
Mr Galt added "On behalf of the Discovery Metals team and our
shareholders, the Board places on record its gratitude to Mr Read for
his achievements as the Company's founding Managing Director. He has
successfully led Discovery Metals through IPO's in Australia,
Botswana and on the AIM market of the London Stock Exchange and
helped create an attractive portfolio of mineral assets in Africa and
Australia. We are pleased that Mr Read will remain as a
non-executive Director, retaining for Discovery the benefit of his
extensive knowledge, experience and relationships within the
industry."
Commenting on his decision, Mr Read said:
"Discovery Metals has made excellent exploration progress over the
past four years, and I believe that the Company will now benefit from
being led by a Managing Director with significant project development
and operational experience as we move into this new development
phase. I am pleased to retain my association with Discovery Metals
and will ensure the handover to the new MD goes smoothly and
following that will focus my efforts on pursuing earlier stage
exploration opportunities for the Company."
Summary biographical data for Brad Sampson, 41 years
Formal Qualifications/ Affiliations
B. Engineering (Honours), University of Queensland, 1987
MBA, Deakin University, 2000
First Class Mine Manager's certificates for Queensland (1998) and
South Africa (1992)
MAusIMM, MAICD
Work History
2006-07 Emperor Gold Mines - General Manager PNG
2004-06 Thiess Ltd - Executive Manager Resources
Development
2000-04 Gold Fields Ltd - General Manager, Kloof and
St Ives
1996-00 Ross Mining NL - Superintendent, Yandan and
Timbarra
1989-96 Anglo American Corporation, Australia and
South Africa
There are no other disclosures required.
Further information on the Company is available on its website:
www.discoverymetals.com.au
NOTE: For further information contact
Jeremy Read
Managing Director
Tel: +617 3218 0202
Mobile: 0409 484322
Email: jeremy@discoverymetals.com.au
Jamie Wright
RFC Corporate Finance Ltd (Nomad)
Tel: +618 9480 2508
Email: Jamie.Wright@rfc.com.au
Richard Hail
Fox-Davies Capital Ltd (AIM Broker)
Telephone: +44(0) 20 7936 5200
Email: Richard.Hail@fdcap.com
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