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  • Alkane Resources Appoints Senior Executives 0 comments
    Oct 31, 2012 10:32 PM

    Alkane Resources (ASX: ALK) has appointed Michael Ball as its chief financial officer and Sean Buxton as operations manager for its Tomingley Gold Project in New South Wales,

    Bell has 15 years experience as a finance professional across a variety of industries across a variety of industries with the last eight spent in the mining and mining services industries

    This included management roles encompassing financial control, business planning and business systems, most recently with the Consolidated Minerals Group.

    Buxton is a mining engineer with nearly 24 years mine project, technical and operational experience in both open pit and underground metalliferous mines.

    He was most recently the general manager of the successful White Dam Gold Mine for Polymetals
    Mining (ASX: PLY)
    in South Australia where he took the operation from construction through to mining completion.

    Buxton has previously undertaken various project, technical and operational management roles as well as managing scoping, pre-feasibility and feasibility studies.

    He has also built up a solid base of broad mine operations experience at Mt Isa Mines, McArthur
    River Mines, Otter Gold Mines, Darlot Gold Mines and Tara Mines.

    The appointments are expected to assist the company in returning to significant producer status during the next one to three years.

    Alkane expects gold production from the A$107 million (A$116 million with contingency) Tomingley project to start by the fourth quarter of 2013.

    The land acquisition program is almost complete and all land required for the development secured while a major reverse circulation drilling program is underway to define the Measured and Indicated Resources for the Caloma Two deposit for inclusion into the project's production model.

    Alkane had also late last month appointed Credit Suisse and Sumitomo Mitsui Banking Corporation as financial advisors for its Dubbo Zirconia Project (DZP).

    This covers general financial and strategic advisory services; the potential sale of a strategic minority interest in the DZP; and for the arrangement of a commercial debt facility.

    Alkane is attempting to secure a finance package of around A$1 billion for DZP, a process that is expected to take up to 12 months, to coincide with final project approvals allowing the construction program for the DZP to commence in the December quarter of 2013.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

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