ENP Newswire - 06 August 2014
Release date- 05082014 - On 15 July 2014 the Company announced its intention, subject to the satisfaction of regulatory requirements, to appoint Dr Dianmin Chen and Dr Noel White, as non executive directors of Bullabullng Gold Limited.
The Company is pleased to advise that all regulatory approvals have been received, and Dr Chen and Dr White have today been appointed to the Board.
As foreshadowed in the release on 15 July, Mr Lambert has today resigned as a director following the appointment of Dr Chen and Dr White. The Company also wishes to advise that Ronnie Beevor has today resigned his position as a Director.
Peter Mansell remains a Director of the Company but Dr Chen will assume the chair. Peter Mansell, said 'I welcome Dr Chen and Dr White to the board and look forward to working with them as the Company moves the Bullabulling Gold Project towards production for the benefit of all shareholders. On behalf of the board and Shareholders of Bullabulling, I would also like to reiterate my thanks to Mr Lambert for what he has achieved for Bullabulling during his tenure, and to thank Mr Beevor for his enormous contribution and support to the Board during his time as a Director.
Mr Beevor advised me that, now that Norton has achieved control of the company, he believes that it is time for him to stand down from the board. It is a pity that he will not be on the board to see the fruition of his hard work the development of the Bullabulling mine.'
Loan Facility: The Company also wishes to advise that Norton Gold Fields have provided a loan of $ 2,000,000 to the Company to meet ongoing definitive feasibility study costs and day to day working capital requirements.
Bullabulling Gold Limited
Tel: +61 8 9386 4086
Gresham PR Ltd
Tel: +44 7866 805 108
About Bullabulling Gold Limited
Bullabulling Gold Limited is listed on the Australian Securities Exchange (ASX: BAB) and London's AIM Market (AIM: BGL) and has approximately 350 million shares on issue. The Company's primary asset is the wholly owned Bullabulling Gold Project, located 60 kilometres west of Kalgoorlie in Western Australia.
The Bullabulling Gold Project hosts estimated Mineral Resources of 3.75 million ounces comprising Indicated Resources of 72.4 million tonnes at 0.98 g/t gold (2.28 million ounces) and Inferred Resources of 41.6 million tonnes at 1.11 g/t gold (1.47 million ounces). Exploration has demonstrated strong potential for further expansion of the resource base.
The Bullabulling deposit is amenable to bulk tonnage open pit mining and conventional CIL processing. All resources are situated on granted Mining Leases in close proximity to infrastructure. The Company is conducting a definitive feasibility study into the development of a large scale, low cost mining operation at Bullabulling, scheduled for completion in 2015.