Mawson West announces management and board changes
PERTH, AUSTRALIA and TORONTO, ONTARIO–(Marketwire – June 29, 2012) – Mawson West Ltd. (TSX:MWE) ("Mawson" or the "Company") today announces the resignation of President and Chief Executive Officer David Frances with immediate effect. Also today the Company announces the appointment of the current Chairman, Mark Stowell, as Interim President and Chief Executive Officer of the Company and Anthony Lloyd, the Deputy Chairman of the Company, has assumed the role of Chairman with immediate effect. Mr. Frances will leave the Company following a six week transition period.
The Company has engaged a reputable international executive search firm to commence an immediate search for a new Chief Executive Officer.
Mawson is also pleased to announce the appointment of Mr. Greg Entwhistle as Chief Operating Officer with effect from mid-August 2012. He will assume responsibility for the development and operation of all Mawson projects. Mr. Entwhistle has over 30 years of mining industry experience and a track record in project delivery in Australia and internationally for a number of resource companies, including Newcrest Mining and Agincourt Resources. His experience includes serving as Project Director and Mine Manager at Newcrest Mining's world class Gosowong gold mine for a period of eight years.
Commenting on these changes, Mark Stowell stated, "On behalf of the board, we thank Mr. Frances for his contribution and efforts. Mr. Frances was instrumental in sourcing and defining the Company's projects, and their transition from exploration to development. The board has agreed that an executive with a different skill set, particularly a strong focus on project delivery, is required to lead the Company through construction and into the next phase of its growth."
"Mawson West remains firmly committed to its strategy, which is to commence production at the Dikulushi copper and silver mine in the third to fourth quarter of this year and to complete construction and commissioning of the Kapulo project in the second half of 2013," he said.
About Mawson West Ltd.
Mawson West Ltd. is an Australian-based copper producer, developer and explorer listed on the Toronto Stock Exchange. Mawson's focus is on the DRC, and its major asset is its 90% ownership in tenements located in the south-eastern part of the country in the Katanga Province, comprising some 7,300 km2 of contiguous tenure. The tenements encompass the Company's two main projects, the Dikulushi copper-silver mine and the Kapulo copper exploration and development project, as well as multiple exploration targets, which are all governed by the Dikulushi Mining Convention.
Mawson's principal objectives are to expand copper production at the Dikulushi mine, commence copper production at the Kapulo project and further explore the area governed by the Dikulushi Mining Convention to identify new targets. Mawson is also investigating other opportunities in the DRC and elsewhere which have the capacity to increase the Company's production in copper and other metals.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.