Appointment of CFO

RNS Number : 3829J

Ormonde Mining PLC

30 June 2011

 

30 June 2011

Ormonde Mining plc

("Ormonde" or "the Company")

Appointment of Chief Financial Officer

The Board of Ormonde is pleased to announce the appointment of Mr. David Varian as Chief Financial Officer, effective 1 July 2011.

Commenting on the appointment, Ormonde Chairman, Mike Donoghue stated:

"We are extremely pleased to welcome David to the Company at a time when we are moving towards development and production. His experience in both the development and operational aspects of a growing mining company will be invaluable as we put in place the required management structure and expand the financial controls and cost reporting procedures for the capital development stage of our flagship Barruecopardo Tungsten Project".

Mr. Varian is an experienced Chartered Accountant & Head of Finance with in-depth knowledge of financial management.  Between 1997 and 2001 he was Chief Financial Officer & Company Secretary at MV Technology (MVT), a small Trinity College campus company which was ultimately sold to Agilent Technologies for €100m in 2001.

Prior to MVT, Mr. Varian was Group Financial Controller and Company Secretary with Navan Resources plc during its formative years when it developed and operated mines in Bulgaria, Spain and Hungary. From 1993 to 1996 Mr Varian was responsible for the financial function of the parent company and its fifteen subsidiaries in Bulgaria, Hungary, Spain, Ireland, the Netherlands and Scotland.

In recent years he has provided accounting and financial controller services to a variety of business clients, including on a part time basis to Ormonde. He is therefore familiar with Ormonde's operations and will be in a position to contribute without delay to the further development of the Group finance function as progress is made towards the capital development stage of its flagship Barruecopardo Tungsten Project. 

Mr. Varian obtained his primary degree in Business Studies at Trinity College, Dublin in 1989 and obtained his chartered accountant qualification through Arthur Andersen in London.

Enquiries to:

Ormonde Mining plc

Kerr Anderson, Managing Director  Tel: [phone]

Bankside Consultants

Simon Rothschild  Tel: [phone]   Mob: [phone]

Davy (Nomad / ESM Adviser)

Eugenée Mulhern/Fergal Meegan Tel: [phone]

Fairfax I.S. PLC (Joint Broker)

Ewan Leggat / Katy Birkin  Tel: [phone]

ENDS

About Ormonde

Ormonde Mining Plc is quoted on the AIM in London & the ESM in Dublin. Ormonde is a mineral development and exploration company focused on Spain (Ticker ORM).

Ormonde's key activities include:

The Barruecopardo Tungsten Project - Ormonde is developing a low cost mining operation at Barruecopardo to initially produce ~8% of non-Chinese global mine production from late 2012; to become a major long-life mine.

The La Zarza Copper-Gold Project - Joint Venture with Antofagasta Minerals - a large "massive sulphide" deposit with significant copper, gold and zinc resources; exploration for an enlargement to the copper resource is being funded by Antofagasta.

Gold Explorationin several highly prospective areas of western Spain.

 

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