Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce a number of changes to the Greatland board.
Commencing in March 2016 Greatland has experienced a rapid period of business development that has transformed the Company from a near-moribund listed resource company into an active precious and base metals exploration business. This transformation has involved two of the founding Directors, Andrew Bell and Callum Baxter, and three new Directors, Paul Johnson and Alex Borrelli appointed in April 2016 and Gervaise Heddle appointed in May 2016.
The Company is now well financed with over £1.1million cash at bank and a drilling programme currently running at the Bromus project in Western Australia.
Greatland will shortly be announcing its drilling plans for the Company’s Ernest Giles project, with drilling to commence in the near term. It will also be updating the market on the next stages at its Firetower and Warrentina projects in Tasmania.
Various new opportunities are currently under review and it is the intention of the Company to complement its existing four projects (all 100% owned), with additional projects that have the potential to significantly advance the Company.
Recognising the smooth running of Greatland, led principally by Callum Baxter and Gervaise Heddle as Executive Directors, and with the rehabilitation of the Company essentially complete, Paul Johnson (Non-executive director) and Andrew Bell (Non-executive Chairman) have decided to step down from the Board with effect from 14 August 2016.
Alex Borrelli will assume the role of Non-executive Chairman from 14 August 2016.
Greatland will continue to monitor the size and composition of its Board as the Company continues to evolve and intends to appoint an additional independent Non-executive Director at some point in the future.
Andrew Bell, current Chairman of Greatland Gold commented: “Paul and I are delighted with the progress made by Greatland in recent months and are pleased to see the Company in a significantly strengthened and dynamic position.
We are stepping down now because in simple terms we are no longer needed. Alex, Callum and Gervaise form a balanced and cohesive management team more than capable of running this reinvigorated business.
Both Paul and I will remain available to the Greatland Gold team for support and assistance in respect of business management and communications during the balance of 2016, should the board feel the need to call on us for support.
We wish the Company well now that its new journey to value generation has commenced and will be watching business progress with interest, notably with respect to the exploration drilling activities that are, or soon will be, underway.”
Alex Borrelli, Chairman of Greatland Gold with effect from 14 August 2016 commented: “I am honoured to assume the role of Non-executive Chairman of Greatland Gold. In recent years the resource sector has been underfinanced and there has been little opportunity to progress exploration projects proactively. Greatland is in a robust financial position, with active exploration programmes now underway, and the desire to pursue current and new opportunities with a view to identifying a substantial mineral deposit, or deposits.
I would like to thank Andrew and Paul for their significant efforts over recent months during what has been an intensive period of business restructuring, refinancing and refocusing.”