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Breakaway Resources

Publié le 20 février 2009

Company Update - Management Structure

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Breakaway Resources Limited (ASX: BRW)

 

ASX RELEASE                                                                                                          20 February 2009

 

COMPANY UPDATE ? MANAGEMENT RESTRUCTURE

 

 

 

Further to recent announcements, the Board of Breakaway Resources Limited (ASX: BRW ? ?Breakaway?) advises that it has decided to restructure the Company?s senior executive management in response to the prevailing difficult economic circumstances and consistent with the re-focused exploration strategy foreshadowed in the December Quarterly Report.

 

Mr Peter Buck will step down as the Company?s Managing Director and CEO effective from 20 February. Mr David Hutton, who currently holds the position of Exploration Manager, has accepted the position of CEO to lead the implementation of targeted exploration programmes at Breakaway?s higher priority nickel projects in the Northeastern Goldfields and pursue other opportunities for the Company.

 

Mr Buck will maintain an ongoing involvement with the Company as an independent specialist advisor, providing strategic and technical advice to assist in the implementation of the exploration strategy and to ensure a smooth transition for Mr Hutton, with whom he has worked closely for the past 15 years. All parties are looking forward to a continuing association.

 

?As outlined to the market in recent months, Breakaway is very focused on managing and reducing its costs during this difficult period in the commodities cycle,? said Breakaway?s Chairman, Mr John Atkins.

 

?After taking into consideration the Company?s requirements in terms of implementing the focused exploration strategy which has been developed for our core nickel assets over the next 12 months, the Board has decided to tailor key management roles accordingly.

 

?In light of this, we are pleased to announce David Hutton's new appointment, after serving as Breakaway?s Exploration Manager over the past three years. Peter Buck will continue to provide his invaluable experience to the Company in an ongoing capacity as independent specialist advisor ? an arrangement which the Board believes to be in the best interests of shareholders.?

 

Mr Hutton has spent 18 years working in exploration and mining throughout Australia. Before taking up the position of Exploration Manager with Breakaway, he held a number of senior exploration roles with Forrestania Gold, Western Metals and LionOre Australia where he was mainly involved in gold and base metal exploration throughout the WA Goldfields and Kimberley regions. Prior to that, he spent seven years with the MIM Group both in underground mining and exploration roles.

 

In thanking Mr Buck for his significant contribution to Breakaway, initially as a non-executive Director and, since 2006, as Managing Director, Mr Atkins said: ?Since the acquisition of LionOre?s nickel exploration portfolio in 2006, Peter has worked tirelessly to build a high quality team and to significantly enhance the value and growth potential of our 100%-owned nickel and base metal projects. In this period, the Company has enjoyed considerable exploration success, with the delineation of new JORC-based mineral resources at Altia in Queensland and at the Horn, Western Australia.  ?Also new extensions of nickel mineralisation were discovered at the 1A and Andrews Deposits and at the Saints prospect area in Western Australia.?

 

 

 

 

?More recently, Peter has shown strong leadership in responding swiftly and effectively to the global financial crisis, ensuring that the Company is well placed to survive the current difficult environment,? he added. ?We look forward to his ongoing contribution to the Company?s strategic development as an independent advisor and we wish him well for the future in his other endeavours.?

 

Breakaway has recently completed a review of its assets and opportunities, resulting in the development of cost effective exploration, corporate and asset rationalisation strategies. This approach is based on the Company?s core strengths in nickel exploration and high quality exploration portfolio in the Leinster-Mt Keith region of Western Australia ? one of the world?s premier nickel belts.

 

?Breakaway?s exploration portfolio has outstanding potential and all the ingredients required to underpin the Company?s future growth and development, subject to exploration success,? Mr Atkins said. ?The Board is confident that, under David Hutton?s leadership, our team is well placed to move forward with focused and diligent exploration programmes to add value to the Company.

 

?David has a strong and successful track record as an explorer, having been involved with near-surface gold discoveries in the Northeastern Goldfields which led directly to the discovery of the world-class 2 million ounce Thunderbox deposit, which remains one of the last major gold discoveries in Western Australia in the past decade.?

 

A further announcement will be made in the near future regarding the 2009 exploration programme and forward strategy.

 

ENDS

 

 

 For further information contact:

 

Mr John Atkins

Chairman

Breakaway Resources Limited

Mobile: 0419 767 573

Business: (08) 9211 7777

 

 

 

 

       

 

 

 

 

 

<

Breakaway Resources

EN DÉVELOPPEMENT
CODE : BRW.AX
ISIN : AU000000BRW9
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.

Breakaway est en développement de projets de nickel, de cuivre, d'argent et d'or en Australie, et détient divers projets d'exploration en Australie.

Son principal projet en développement est ELOISE PROJECT en Australie et ses principaux projets en exploration sont BUNGALDIN, MIRANDA PROJECT, MT FINNERTY NICKEL JV, MOUNT CLIFFORD - MOUNT NEWMAN, YILLAREE, SCOTIA PROJECT, EAST KIMBERLEY, KALGOORLIE, KAMBALDA WEST PROJECT, WILDARA, BANNOCKBURN et VIVIEN en Australie.

Breakaway est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,5 millions AU$ (3,3 millions US$, 2,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 18 mai 2007 à 0,94 AU$, et son plus bas niveau récent le 21 juin 2013 à 0,01 AU$.

Breakaway possède 291 100 507 actions en circulation.

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Nominations de Breakaway Resources
28/05/2010Ltd: Appointment of Corporate Advisory Firm to Assist with D...
Projets de Breakaway Resources
31/05/2011(Eloise Project)Drilling commences at Eloise, North Queensland
05/07/2010(Wildara)Expands Nickel Exploration Effort
05/03/2010(Wildara)Exploration Update
21/10/2009(Scotia Project)Breakaway to Recommence Nickel Drilling at Scotia Project
03/08/2009Drilling Results Confirm Near-Surface Gold Potential at Spar...
16/07/2009(Mt Finnerty Nickel Jv)Sale of Breakaway's MT Finnerty JointVenture Earn-In Rights ...
01/07/2009(Scotia Project)Commences Gold Exploration Drilling
11/06/2009(Scotia Project)Gold Exploration Initiative
04/12/2008(Eloise Project)Eloise Copper Mine - Further Update
18/09/2008(East Kimberley)Results for Nickel Sulphide Extensions at Keller Creek NI-CU...
09/09/2008(Eloise Project)Eloise Copper Mine Production Ramp-Up Positions Operation fo...
04/09/2008(Kambalda West Project)Drilling Confirms Additional High Grade Nickel Extensions at...
31/07/2008(Eloise Project)Eloise Copper Mine Performing Strongly With Plan to Expand F...
30/07/2008(East Kimberley)Significant Sulphide Extensions Discovered in Keller Creek N...
29/04/2008(Kambalda West Project)Drilling Planned at Kambalda West Gold Joint Venture by Barr...
12/03/2008(Kambalda West Project) Drilling Planned to Test Substantial Depth Extensions at An...
06/03/2008(Wildara)Further Significant Intersections at the Horn *RESENT*
Communiqués de Presse de Breakaway Resources
14/09/2012Alcoa CIO Nancy Wolk Recognized for World-Class IT Leadershi...
10/08/2010EM Survey Commences at Miranda
27/07/2010Quarterly Report for the Period Ending 30 June 2010
02/06/2010BHP Billiton Launches Deep Drilling at Altia JV
28/04/2010Activity Report for the Quarter Ended 31 March 2010
09/04/2010Nickel Drilling and Exploration Update
28/01/2010Activity Report For The Quarter Ended 31 December 2009
15/12/2009Saints Nickel Target Drilling Update
21/07/2009June 2009 Quarterly Report
20/02/2009Company Update - Management Structure
27/01/2009Quarterly Activites Report December 2008
23/09/2008Announces A$2M Share Placement to Cornerstone Investor
26/06/2008Significant Gold Results From Kambalda West Gold Joint Ventu...
24/06/2008First Stage In-Fill Drilling Confirms Integrity of Horn Nick...
19/06/2008Andrews Mine - Depth Extension Discovered - 1A Mine - Early ...
03/06/2008Lonsec Report
29/04/2008Quarterly Activity Report
14/04/2008 Maiden Resource: 8,300 Tonnes of Nickel for the Horn Deposi...
08/04/2008 Positive TEM Results Increase Potential For Additional Nick...
27/03/2008Further Nickel Drilling Success at the Horn Extending Minera...
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