Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Coppermoly appoints Ben Faulkner as a non-executive director

Coppermoly  (ASX: COY) has appointed Ben Faulkner as a non-executive director effective immediately.

Faulkner is a senior private client advisor with stockbroking firm RBS Morgans Limited, one of Australia's largest full service retail stockbroking firms.

He is a member of Stockbrokers Association of Australia (NYSEARCA:SAA) and the Australian Financial Markets Association (AFMA).

In November Coppermoly completed a private placement that raised $523,000 to fund the minimum expenditure commitment for the company’s farm in to the Esk Trough Copper-Gold Project in South East Queensland.

Coppermoly has the right to earn a 51% interest in Esk Trough from ActivEX (ASX: AIV) by funding $3 million worth of exploration over three years.

The company has the option to increase its interest to 70% by sole funding an additional $3 million of expenditure, which will then give ActivEX the option to earn back a 10% interest by sole funding $6 million of exploration expenditure.

Coppermoly sees significant potential to quickly add-value at ActivEX's Esk Trough Project as it has advanced exploration prospects which can be drill tested immediately. A targeted drilling program is scheduled in 2012.


Article originally published at: