Source - RNS
RNS Number : 6085T
Papua Mining Plc
13 October 2017
 

Papua Mining plc

Result of Annual General Meeting

and General Meeting

Papua Mining plc ("Papua" or "the Company") is pleased to announce that at the Annual General Meeting of the Company and the General Meeting of the Company, both of which were held earlier today, all resolutions proposed were duly passed.

Consequently, the acquisition of BGM Investments Pty Ltd and the placing to raise up to £2.0 million (the "Transaction"), further details of which were set out in the Company's notification made on 18 September 2017 (the "Announcement"), will proceed to completion, which is expected to occur on 16 October 2017.

As detailed in the Announcement, David Price will be appointed to the Board as Managing Director & Chief Executive Officer, John Haggman will be appointed to the Board as Technical Director and Paul Johnson will join the Board as a non-executive Director. Alongside the appointments, Michael Jolliffe and John Hutchinson have resigned from the Board and as Directors of the Company.  All these Board changes will take effect from 16 October 2017. 

Incoming Managing Director & CEO, David Price, commented:

"I join the board of Papua Mining with confidence and high anticipation. The introduction of new, highly-prospective, Australian projects into the Company's already strong asset portfolio, together with the successful raising of funds to advance these projects, provides Papua Mining with a sound platform for rapid and sustained growth.

The Company's technical team has already commenced work on defining specific drilling targets, with the aim of delivering a Maiden JORC resource for the Company. We look forward to keeping our investors informed of our exploration success as we build Papua towards our goal of becoming a profitable, value-driven company." 

For further information on the Company please visit www.papuamining.com or contact:

 Papua Mining plc

 

Hugh McCullough, Director

+353 1 532 9535

 

 

David Price, Incoming Managing Director & CEO

 

 

Cenkos Securities plc - Nominated Adviser and Broker

+61 401 469 070

Derrick Lee / Beth McKiernan

+44 131 220 6939

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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