Archer Exploration Limited Resignation of Hon John Dawkins and Peter Meers as Directors
25.05.2012 | ABN Newswire
10:26 AEST May 25, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.Adelaide, Australia (ABN Newswire) - Archer Exploration Limited (ASX:AXE) advises that following the sale of the remaining shares held in Archer by Hudson Resources Limited ('Hudson and related companies'), Mr. Peter Meers has resigned as a Director of Archer, effective immediately. The Honourable John Dawkins AO is currently overseas but has notified the Chairman that he intends to resign as a Director of Archer within the next week. Archer will notify ASX upon receiving a signed written resignation from John Dawkins. Both Directors were appointees of Hudson and their appointments were conditional on Hudson maintaining a substantial share holding in Archer.
The Board of Archer greatly appreciated and benefited from the skills and broad range of business experience that John and Peter bought to the Company during their Directorships.
Archer with its solid cash position is well placed to accelerate exploration and development of its key graphite projects at Campoona and Sugarloaf. Resource drilling to achieve a JORC Measured Resource at Campoona is underway and weather permitting, will be completed within three months. Given the importance of Campoona and the other emerging projects that the Company has, Archer will be commencing a search for a senior person with substantial mining experience to join the Company as a Director to assist in the transition from explorer to miner.
About Archer Exploration Limited:
Archer Exploration Limited (ASX:AXE) is a copper, gold and uranium explorer focused on the discovery of world-class ore deposits.
The company has carefully acquired a portfolio of projects, covering an area in excess of 7,000 km2, in the highly prospective Gawler Craton and Adelaide Fold Belt regions of South Australia. All projects are 100% owned by the company.
The company's flagship Evelyn Dam prospect in the West Roxby Project is an iron ore-copper-gold-uranium (IOCG-U) target which has a gravity anomaly similar in size to the nearby Olympic Dam operations.
Archer Exploration Limited has an experienced board and management team and has the ability to maximise the potential of the company's world-class projects.
Contact:
Archer Exploration Limited
T: +62-8-8272-3288
WWW: www.archerexploration.com.au
