– UK, London – Aurasian Minerals Plc (AIM:AUM) announced on 12th January 2015 that Tony Shearer has resigned as Non-Executive Chairman and he and Patrick Gorman have resigned as Non-Executive Directors. Both resignations will take effect from about 16th March 2015. At the same time Bruce Kay will join the Board as Non-Executive Chairman and Tim Coughlin will join as a Non-Executive Director. Chris Goss and Simon Bullock will remain on the Board as Non-Executive Directors.
Outgoing Chairman Tony Shearer said: “I am delighted that Bruce has agreed to take over as Chairman. He knows the Company well and his excellent knowledge of, and achievements in, geology and mining, as well as his industry contacts, are well-known; they are what Aurasian needs at this this stage of its development. In addition, Tim’s background and achievements in exploration geology will be of great benefit to the Company as it moves forward. I am very grateful to Patrick for all he has done for the Company: He has given a great deal of his time, and has provided very wise advice. I am glad that he has agreed to continue to provide consultancy services to Aurasian on a project by project basis in the future.”
Incoming Chairman Bruce Kay stated: “On behalf of fellow Directors, I would like to thank Tony Shearer and Patrick Gorman for their efforts in guiding your Company through this difficult transition phase. I am also pleased that they will still be available to provide assistance as we utilise the new technical team and the technology and data agreement with Newmont to pursue exciting new ventures in South East Asia.”
About Bruce Kay
Bruce Kay has been Vice-President of Exploration at AuM since April 2014. He is a qualified geologist and former head of worldwide exploration for Newmont Mining Corporation (“Newmont”). He is a highly experienced geologist with a resource industry career spanning more than 30 years in international exploration, mining, geological evaluation, project evaluation and corporate operations.
Between 1989 and 2002 Bruce was Group Executive and Managing Director of Exploration at Normandy Mining Limited (“Normandy”) where he was responsible for managing its global exploration program. During this time, the Company grew rapidly through acquisition and discovery to become Australia’s largest gold producer. The Normandy exploration team used the in-house BLEG technique extensively and discovered gold deposits in Turkey, Greece, Indonesia, Laos and Argentina. Normandy also discovered major gold deposits using other methods in Ghana, Mauritania, and Australia. In February 2002, Normandy was acquired by Newmont and Bruce moved to Denver, Colorado, USA, where he managed their worldwide exploration.
Bruce has also held senior exploration positions with Western Mining Corporation over a 16 year period and is currently a Director of Catalyst Metals Ltd which has discovered high grade gold mineralization beneath shallow sedimentary cover north of Bendigo in Victoria, Australia.
About Tim Coughlin
Tim Coughlin has a BSc in Earth Sciences, a MSc in Exploration and Mining Geology and a PhD in Structural Geology. He is a Fellow of the Australian Institute of Mining and Metallurgy and a Member of the Society of Economic Geologists, and has over 25 years of exploration, junior mining and capital markets experience.
Tim is currently Chief Executive Officer of Tigris Resources Ltd. Prior to that Tim was President and Chief Executive Officer of TSX-listed Lydian International Ltd (“Lydian”), a company he founded in 2005. Tim has been credited with the discovery of Lydian’s award winning +4Moz Amulsar gold deposit in Armenia and he has played an integral part in the discovery of two other plus million ounce gold deposits in South America.
Tim has held senior positions with major mining companies and was formerly AngloGold Ashanti’s Chief Geologist in South America. Tim has worked with, and consulted to, many major and junior companies on exploration, development and mining projects in 20 different countries across 6 continents.
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