Board Changes and Appointment of CEO

RNS Number : 0820J

Shanta Gold Limited

01 April 2015

 



01 April 2015

SHANTA GOLD

("Shanta Gold" or the "Company")

Board Changes and Appointment of CEO

Shanta Gold, the East Africa focused gold production and exploration company, announces the appointment of Dr. Toby Bradbury and Patrick Maseva-Shayawabaya to the Board of Directors, effective from 1 April 2015.  

As announced on 9 December 2014, Mike Houston stepped down as Chief Executive Officer on 31 March 2015 and has been succeeded by Dr. Bradbury with immediate effect. Patrick Maseva-Shayawabaya will continue in his role as Shanta Gold's Chief Financial Officer.

Dr. Toby Jonathan Bradbury, aged 55, was appointed Chief Operating Officer of Shanta Gold on 1 January 2015 and has 30 years' experience in corporate, strategic and operational roles across a broad range of commodities and geographies. He has significant expertise in opencast and underground mining operations as well as in the delivery of development and expansion projects. Previous executive roles have included Chief Operating Officer for Anvil Mining in the DRC and Senior Vice President at AngloGold Ashanti in Ghana, where he had full accountability for all in-country operations for both underground and surface mining with gold production capacity of 600,000 ounces per annum. He has a BSc and PhD in Mining Engineering and a Masters degree in Business Leadership and is a Fellow of IMMM and AusIMM.

Patrick Maseva-Shayawabaya, aged 51, has been Chief Financial Officer of Shanta Gold since July 2013. He is a Chartered Accountant with over 17 years' experience in financial management at senior and executive levels including as Chief Financial Officer of ASX listed Zimplats Holdings Limited. Previously he served as the Financial Director of a multinational sugar growing and processing company in Zimbabwe and holds a BAcc from the University of Zimbabwe.

Tony Durrant, Chairman, commented:

"Today's additions to the Board represent an important and exciting new phase for Shanta Gold and mark the official commencement of Dr Toby Bradbury's tenure as CEO. Toby has already added significant value in his short time as COO and his extensive experience in opencast and underground mining will be critical as the Company enters into its next phase of growth. We are also delighted to welcome our CFO, Patrick Shayawabaya, to the Board."

"We would like to take this opportunity to thank Mike Houston for his significant contribution during his time as CEO. Mike accomplished a number of important milestones during his successful tenure and his hard work has laid solid foundations from which the Company will continue to benefit. To ensure a smooth transition, Mike has agreed to remain on the Board as a non-executive director until the conclusion of the AGM on 29 May 2015."

Additional Information

A list of Dr Bradbury's and Mr. Shayawabaya's current and past directorships held within the last five years is set out below:

Toby Bradbury

Current

Mining Management and Corporate Services Limited

Tulla Projects Limited

Past

AngloGold Ashanti (Ghana) Limited

CuCo Resources Limited

Patrick Maseva-Shayawabaya

Current

Shanta Mining Company Limited

Shield Resources Limited

Past

Zimplats Holdings Limited

Zimbabwe Platinum Mines (Private) Limited

Mhondoro Holdings Limited

Hartley Minerals Zimbabwe (Pty) Limited

Save for the above, there is no further information that is required to be disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies with respect to the appointments.

Enquiries:

Shanta Gold Limited

Tel: [phone]

Dr Toby Bradbury / Patrick Maseva-Shayawabaya

Nominated Adviser and Joint Broker

Peel Hunt LLP

Tel: + 44 (0)20 7418 8900

Matthew Armitt / Ross Allister

Joint Broker

GMP Securities Europe LLP

Tel: + 44 (0)20 7647 2800

Richard Greenfield / Alexandra Carse

Financial Public Relations

FTI Consulting

Oliver Winters / Sara Powell

Tel: [phone]

About Shanta Gold Limited

Shanta Gold is an East African focused gold producing company. It currently has defined ore resources on the New Luika and Singida projects in Tanzania and holds exploration licences over a number of additional properties. The Company's flagship New Luika Gold Mine commenced production in 2012 and produced 84,028 ounces in 2014. The Company is admitted to trading on AIM and has approximately 464 million shares in issue. For further information visit the Company's website: www.shantagold.com.

 

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