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Laconia Resources: Matthew Howison Steps Up To The Chairman's Seat

Laconia Resources (ASX: LCR) has appointed Matthew Howison, a current non-executive director of the company, to the role of chairman.

Howison has a legal and investment banking background, previously holding senior positions at NM Rothschild & Sons (Australia), Turnbulll & Partners, Goldman Sachs Australia and Salomon Smith Barney before establishing the private merchant banking firm Emerald Partners.

In these roles he has been involved in advising on mergers and acquisitions and capital raising transactions for major Australian and international corporations and has extensive experience in contested public company takeovers.

He has particular expertise in the metals and mining, energy, renewable energy, media and technology industries.

Howison replaces Michael Sharwood who has stepped down to concentrate on his other business interests.

Laconia is aiming to transition to a gold and silver producer in the near term with the completion of the acquisition of the advanced stage Rasuhuilca project in Peru.

Rasuhuilca is located in a region where major mining companies such as Xstrata (LON: XTA) and BHP Billiton (ASX: BHP) are operating, with Xstrata planning to start production at the nearby Las Bambas project in 2013.

The project is also located in the same region as Hochschild Mining's (LON: HOC) major silver and gold operations. Hochschild has Reserves and Resources exceeding 186 million silver ounces and 1.1 million gold ounces, and has a company value over $1.6 billion.

Rasuhuilca currently hosts a JORC Inferred Resource of 360,000 tonnes at 1.97 grams per tonne (g/t) gold and 179g/t silver, with a 2.5g/t gold equivalent cut-off grade.

A Feasibility Study was completed at the project in June 2008 which Laconia is now planning to update, which will re-affirm the Feasibility Study results with a view to bringing the project into production as a high grade, small tonnage mining operation.

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