Metals Exploration PLC (MTL)

Metals Exploration PLC (MTL)

Metals Exploration PLC (MTL) - Appointment of Chairman and Finance Director

Metals Exploration Plc, the UK based precious and base metals exploration company focused on the Pacific Rim Region, is pleased to announce the appointment of Ian Holzberger as Executive Chairman and Tim Wheeler as Finance Director.  The Company also announces the resignation of Steven Smith from the Board of Directors of Metals Ex, as referred to in the Chairman’s Statement in the Company’s Report and Accounts for the year ended 30 September 2007.  

Ian Holzberger
Ian Holzberger has over 35 years’ experience in the base and precious metals mining industry. His experience encompasses a wide range of management, operational, mine development and feasibility study roles. For ten years, between April 1997 and May 2007, Ian was Managing Director of Highlands Pacific Limited, a company listed on the Australian Stock Exchange with operations in Papua New Guinea (PNG).  In this capacity he was directly responsible for the feasibility study on the Ramu nickel laterite project, and subsequent sale of a majority interest in the project to a major Chinese corporation. He was also responsible for the feasibility study, development, financing, construction and commissioning of the Kainantu gold mine in PNG which was recently acquired by Barrick Gold Corporation for US$141.5 million. Having previously worked for a number of major and smaller Australian mining companies throughout Australia and South East Asia, Ian has extensive experience in the implementation of major project feasibility studies, equity raising, investor relations, debt financing, working with traditional societies, Government negotiations and all aspects of project development. He is a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.

Tim Wheeler
Tim Wheeler is an experienced Finance Director, Chief Operating Officer and Business Manager with over 20 years’ experience in investment banking. Most recently he was Finance Director and Chief Operating Officer for Standard Bank Plc where he was responsible for all Standard Bank’s operations worldwide with the exception of Africa, including offices in the Far East, Latin America and North America.  Standard Bank’s product and geographic spread has given him considerable experience of working in the resource sector and in developing economies. 

Jonathan Beardsworth, CEO of Metals Exploration Plc commented:
“We are delighted to welcome Ian as Chairman and Tim as Finance Director.  With Ian’s background in project development and Tim’s expertise in finance, we now have a powerful Board equipped to drive our flagship project at Runruno through development and financing towards production. We are grateful for all Steven Smith has done as Chairman of Metals Ex in the period since the Company joined AIM in October 2004.”

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