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  • Highfield Resources Makes Key Appointments To Spanish Potash Projects  0 comments
    Jan 28, 2013 7:59 PM

    Highfield Resources (ASX: HFR) has broadened the skill base of its Spain-based team of its potash project team with two senior management appointments with over 45 years of experience between them.

    The company has appointed John Claverley as general manager and Gonzalo Mayoral as mine engineer.

    Claverley will form part of the executive management team with Highfield's two executive directors, Pedro Rodriguez and Anthony Hall. His key responsibilities will be development approvals, community engagement and partners.

    He is an industrial engineer with over 30 years of experience in real estate and infrastructure construction and project management.

    Claverley has been a resident in Spain for the past 20 years and has been involved in some of Spain's largest construction projects during that time.

    His broad experience includes general management, business development and strategy, marketing and corporate affairs and project management.

    Prior to joining Highfield, Claverley was responsible for business development and strategy in Continental Europe for the construction division of a leading ASX-listed real estate and infrastructure group.

    Claverley is a UK registered Chartered Engineer and Euro Ingenieur.

    Meanwhile, Mayoral will report to Rodriguez and will be responsible for mine feasibility studies and development activities.

    He is a mining engineer with over 15 years of commercial experience. For the last seven years he has worked with Terratest Group (Spain) where he was most recently operations manager.

    The Terratest Group is a leading organisation in the field of special foundations and soil and environmental improvement and is one of the few organisations that covers excavation, drilling and soil treatment systems.

    Mayoral holds a Masters in Business Administration and Management, a Masters in Environmental Impact Assessments and is a technician in Occupational Risk Prevention.

    Building on strong management

    Claverley and Mayoral will join a highly skilled management team, which includes non-executive chairman Derek Carter, managing director Anthony Hall and development director Pedro Rodriguez.

    Carter is a geologist with over 40 years of experience in exploration and development, including nearly 20 years in the management of ASX-listed exploration companies.

    He has held senior positions in the Shell Group of Companies, including chief geologist in Spain, and was the managing director of ASX-listed Minotaur Resources from its inception in 1993 to 2010.

    Hall is a qualified lawyer and company secretary with over 15 years of commercial experience in venture capital, risk management, strategy and business development.

    Prior to his appointment with Highfield, Hall was head of strategy and business development for the solar energy division of an ASX listed top 50 corporation.

    Rodriguez is a geologist with over 30 years of experience in mining services in Spain working with six international mining companies during the period, including Billiton International, Navan-Almagrera and Newmont.

    Most recently he was directly responsible for delivering a mining chemical complex with more than 460 direct employees and sales greater than US$50 million per annum for ALMAGRERA SA.

    Prospective Spanish assets

    Highfield has two Spain-based potash projects - the Navarra and Aragon projects, which are both located in the Ebro potash producing basin of Northern Spain.

    The Navarra potash project includes a former operating mine that produced close to 400,000 tonnes of potash production per annum for the 25 years through to 1997.

    The asset remains under explored and unmined with a known path to recommencing production.

    Highfield's key objective is to recommence production from the mine.

    The Aragon potash project is located in two separate sub basins within 60 kilometres of the former operating mine.

    Highfield has identified four potential production prospects, which provides the company with strong potential to progress into a detailed project assessment phase with a view to identifying the best opportunities to move quickly into production.

    The company has the option of starting with small operations and cash flow fund expansion or to move into significant initial production.

    At Navarra, Zones A, B, C and E are areas of historic mining, with potential for significant remnant reserves in Zone B. Worth noting is that Zones D and F are unmined with significant resource potential for future production.

    Meanwhile, Aragon is an advanced exploration project with 16 drill holes into the package, shallow potash mineralisation, strong visibility of a JORC Resource and the potential for a relatively short horizon to production.

    Drilling indicates two extensive, shallow beds of potash mineralisation (sylvinite). Significant mineralisation intersected in the Pintano area, including 2.48 metres at 15.6% K2O from 517.3 metres.

    Highfield owns a 100% interest in the six granted tenements that comprise the two projects and cover around 430 square kilometres.

    Close to markets

    The Navarra and Aragon potash projects are located close to the France, Portugal and Northern Africa markets where demand presently exceeds production.

    The projects are close to major highways, rail and within 150 kilometres of an industrial port.

    Analysis

    Proactive Investors continues to be impressed with the quality of Highfield's potash assets, closeness to key infrastructure and the methodical planning and execution of the business plan from acquisition of assets to development. We consider there is significant near term upside in Highfield Resources' valuation and current share price of $0.30.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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