India Resources Limited

Published : February 11th, 2008

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ASX / MEDIA RELEASE                                                               

 

11 February 2008

 

India Resources boosts Board

 

Diversified copper producer India Resources (ASX:IRL) has bolstered its Board, with a number of changes as it steps up production and marketing at the Surda Copper mine in eastern India.

 

As part of the Board changes, current chairman Michael Kiernan will step down as Chairman of the Board due to other work commitments, but will remain an active part of the Board in the position of Vice Chairman.

 

The Board is pleased to announce the appointment of current IRL non-executive director Andrew Simpson to the position of Chairman. The changes will take effect immediately.

 

The Board is also pleased to announce it has appointed Arvind Misra as Operations Director. Mr Misra is IRL’s Chief Operating Officer, and leads the Company’s projects on the ground in India.

 

Announcing the changes, Mr Kiernan said the IRL Board and shareholders would benefit from the collective 50 years of resource experience shared by Andrew and Arvind, with particularly pertinent marketing and operations skills.

 

Mr Simpson is a senior marketing executive with more than 30 years experience in international marketing and distribution of minerals and metals. He is currently the managing director of Resource & Technology Marketing Services Pty Ltd, a company providing specialist marketing and business assessment advisory services to the mineral resources and technology industries, both in Australia and internationally.

 

Mr Simpson also holds a number of other Board positions within ASX-listed resources and exploration focussed companies, including non-executive Chairman of Swick Mining Services and non-executive Director of Vital Metals Ltd and Territory Resources Ltd.

 

“Andrew has provided the Board with outstanding resources and marketing experience, which is particularly important to India Resources now that it is in production at Surda, and aiming to ramp up mining and marketing operations,” Mr Kiernan said.

 

Mr Misra is a mining engineer with 20 years experience in the resources industry, with extensive skills in business improvement and project mine management. He has consulted on a number of high profile projects including the BHP Mitsubishi Alliance, and for LionOre Australia and Griffin Coal.

 

“The addition of Arvind to the Board provides first class resources background with an intimate understanding of the Indian operating and political environment. Arvind’s expertise has been a key part in getting the Surda mine into production ahead of schedule, and his input on the Board will be highly valuable,” Mr Kiernan said.

 

“I will remain an active part of the Board in the Vice Chairman capacity, and look forward to the Company continuing its growth path and capitalising on the huge resource and marketing potential in India,” he said.

 

IRL commenced production at the Surda mine and the Mosaboni Concentrator in December. It has met a January production target of 10,000 tonnes of ore, and is on the way to its production target of 40,000 tonnes per month by June 2008.

 

 

Michael Kiernan                                Eoin Rothery                                  Warrick Hazeldine

Chairman                                           Managing Director                         Purple Communications

Tel: +61 (0) 8 9324 7002                      Tel: +61 (0) 8 9327 7444                  Tel: +61 (0) 8 9485 1254

Mob: 0418 904 165                              Mob: 0420 904 332                          Mob: 0417 944 616


 

About India Resources

IRL is headquartered in Perth, Western Australia with the primary objective to maximize shareholder wealth by capital growth and dividend through the discovery of economic mineral deposits and the development of profitable mining operations.

 

IRL is applying Australian exploration expertise and cost effective mining techniques to project in India, to capitalise on country huge growth and market opportunities.  The Company’s portfolio of assets comprises:

 

Hindustan Copper Limited - Surda Mine

The Company has the benefit of an alliance with Hindustan Copper Limited (HCL - a Government of India enterprise) with the initial focus on identifying existing operations and areas where large-scale mineralisation has been proven. HCL is the sole integrated producer of primary copper in India and is listed on the Mumbai, Delhi, Kolkata and Madras exchanges.

 

IRL, in alliance with HCL, plans to re-open and operate the Surda Mine with an initial objective of delivering annual production of 4,500 tonnes of copper concentrate. The HCL Surda Mine closed in January 2003 and for the 6 years prior produced a total of 1,473,000 tonnes at a grade of 0.9% Cu.

 

Hindustan Copper Limited – Exploration MOU

IRL has the benefit of a Memorandum of Understanding (MOU) for general exploration on HCL’s various leases including tenure around the Surda Mine, and around HCL’s current operations at Malanjkhand and Khetri. IRL will undertake detailed evaluation of exploration areas to be determined in consultation with HCL.

 

Aravalli Project

Through IRL’s in-country consultants, the Company has acquired two Reconnaissance Permits in Rajasthan (north western India). The permits cover a combined total of more than square kilometers. The Aravalli Proterozoic metamorphic belt is prospective for copper, lead, zinc as well as gold. IRL has recently completed a reconnaissance drilling program with positive results.

 

Askot Project

IRL has taken a placement comprising approximately 17% of the share capital of Pebble Creek Mining Ltd (TSX-V – PEB), a Canadian company listed on the Toronto Venture Exchange.  Pebble Creek’s main asset is the Askot Project, a VMS deposit of copper, lead, zinc, gold and silver mineralisation in northern India.  Pebble Creek is currently compiling a resource estimation. 

 

Diamonds

IRL is actively exploring for diamonds in three areas in India. It has had recent success at the Bhandara Diamond Project in Orissa, where it has identified two strong kimberlitic indicator anomalies 160km apart.  At the Dharwar Project, bulk sampling is planned to test the grade of two known diamondiferous kimberlites on IRL’s leases. 

 

 

Visit: www.indiaresources.com.au

 

 

 

 

 

 

 

 ***

 

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au    

 

 

India Resources Limited

PRODUCER
CODE : IRL.AX
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India Res. is a zinc and lead producing company based in Australia.

India Res. produces zinc, lead, copper in India.

Its main asset in production is SURDA in India and its main exploration properties are DHAWAR PROJECT, BUNDELKHAND PROJECT, BIHARINATH, ARAVALLI PROJECT, BHANDARA DIAMOND PROJECT and ASKOT MINE in India.

India Res. is listed in Australia. Its market capitalisation is AU$ 2.0 millions as of today (US$ 1.3 millions, € 1.2 millions).

Its stock quote reached its highest recent level on November 05, 2010 at AU$ 0.03, and its lowest recent point on June 10, 2016 at AU$ 0.00.

India Res. has 1 000 590 016 shares outstanding.

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Annual reports of India Resources Limited
Annual Report 2007
Project news of India Resources Limited
12/2/2014Surda mine update
6/10/2008(Surda)Surda Delivers Record Daily Copper Production
Corporate news of India Resources Limited
5/17/2016Quarterly Activities and Cash Flow Report
12/22/2015AGM Presentation
12/22/2015Results of Annual General Meeting
12/22/2015Successful appeal to Indian Tax Assessment
11/2/2015Notice of Annual General Meeting
11/2/2015Appendix 4G Corporate Governance Disclosure
4/11/2015Surda expension project
3/21/2015Half Year Accounts
3/9/2015Shareholder Update
12/26/2014Aravalli Decision
12/2/2014Results of annual general meeting 2014
10/30/2014Quarterly activities report 30 September 2014
10/30/2014Notice of annual general meeting
4/21/2010Quarterly report
11/26/2008Surda Copper Operation - Update
10/1/2008Announces 2008 Results
9/5/2008Working Capital Facility and Project Update
6/25/2008Director Resignation
4/15/2008Secures Future Copper Production Base
2/11/2008boosts Board
1/15/2008DISCOVERS NEW DIAMOND INDICATORS
1/8/2008First copper sales as Surda steams ahead
12/20/2007ACQUIRES STAKE IN INDIAN EXPLORER
12/4/2007BOOSTS DIAMOND PROSPECTS
11/2/2007 INTO COPPER PRODUCTION AHEAD OF SCHEDULE
10/9/2007RAISING $20 MILLION TO DOUBLE COPPER PRODUCTION
8/21/2007COMMENCES DRILLING NEW TARGETS
8/15/2007ACQUIRES DIAMOND LEASES
7/17/2007 To commence Production early 2008
6/6/2007Surda Operations Update
5/20/2007has closed its Initial Public Offer heavily oversubscribed
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