Dynasty Metals Australia Limited: Announce Board Restructuring
21.09.2011 | ABN Newswire
Sydney - Following the appointment of Mr Tom Pickett and Mr Bin Wang as directors of the Company at the 2011 AGM, Dynasty Metals Australia Limited (ASX:DMA) is pleased to advise that Mr Pickett has been appointed Non-executive Chairman and Mr Lewis Tay has been appointed Managing Director.With the new board structure is in place, Dynasty can now concentrate on the growth of the Company having had a period of uncertainty and board distraction. The Board would like to take this opportunity to thank all previous Board members for their service and wish them the very best in their endeavours wherever that may take them. The Company is now focused on the drilling programs and further beneficiation studies in close consultation with Terra Search who have been providing excellent service and value as our consulting geologists.
Dynasty looks forward to growing the current resource via our targeted exploration programs, and over the coming months we look forward to getting on with the job for the benefit of all shareholders.
About Dynasty Metals Australia Limited:
Dynasty Metals Australia Ltd (ASX:DMA) is an emerging Australian iron ore exploration company focused on developing its 100%-owned tenements at Prairie Downs in Western Australia's Pilbara region.
In March 2010, Dynasty announced initial JORC-Compliant Inferred Resources of 453 million tonnes of Detrital Channel Iron and 23.3 million tonnes of Marra Mamba Iron Formation.
The 2010 exploration programs are underway and are aimed at further testing and significantly expanding the current resources, as well drilling a large iron-rich basal conglomerate for the first time. The exploration target is more than 1 billion tonnes of iron.
During 2010, Dynasty plans to commence detailed commercial investigations that will cover preliminary mine planning, beneficiation process design, mining and processing costs, transport infrastructure, capital costs, environment and native title clearances, and government approvals. A pre-feasibility study is anticipated to commence in late 2010.
Source: Dynasty Metals Australia Limited<
Contact:
Michael van Uffelen, Company Secretary
Phone: +61-8-9426-8999
Email: admin@dynastymetals.com.au
http://www.dynastymetals.com.au