13 October 2014 www.intgold.com.au
The board of International Goldfields Limited (ASX: IGS) ("IGS" or "the Company") advise of the resignation of Managing Director, Mr Travis Schwertfeger effective as of 21 November 2014.
The resignation of Mr Schwertfeger provides an opportunity for corporate restructuring which the board feels is prudent as the company has moved from project operators to JV partners in Brazil and completes divestment of other non-core assets.
We look to reduce expenditure across the company and achieve significant savings by reducing technical management of the Ouro Paz Joint Venture to a part-time consulting role.
As part of a structured succession plan for the Company, Mr James Baughman has been appointed as a consulting geologist to satisfy JORC compliant reporting requirements for the Company and provide a smooth transition in project management.
Mr. Baughman has over 30 years' achievement in mineral exploration, including extensive work in resource expansion, project development and management of corporate and regulatory issues. Mr Baughman is fluent in Portuguese with significant gold & copper experience across South America, including several projects located throughout Brazil.
The Board has commenced a process to identify a replacement Director for Mr Schwertfeger whilst he stays on as a Non-executive Director in the interim.
On behalf of the Board, I want to sincerely thank Travis for his hard work and dedication to the Company, and wish him well in his future endeavours.
Yours Faithfully
Michael Edwards
Chairman
BOARD
Michael Edwards
Non-Executive Chairman
Travis Schwertfeger
Managing Director
David Tasker
Non-Executive Director COMPANY SECRETARY Jane Flegg
REGISTERED OFFICE AND PRINCIPLE PLACE OF BUSINESS
Ground Floor, 1 Havelock Street
WEST PERTH WA 6005
PO Box 684
WEST PERTH WA 6872
COMMUNICATION DETAILS
Telephone: +61 8 9488 5220
Facsimile: +61 8 9324 2400
Web Address: www.intgold.com.au Email Address: info@intgold.com.au
AUSTRALIAN BUSINESS NUMBER
69 099 544 680
SHARE REGISTRY
Advanced Share
Registry Services Pty Ltd
150 Stirling Hwy
Nedlands WA 6009
MEDIA CONTACT
Tony Dawe
PPR
T: 08 9388 0944
E: tony.dawe@ppr.com.au
ASX CODE
IGS
The Ouro Paz JV Project is host to a maiden MRE of 3.4M tonne Measured & Indicated Resource averaging 2.55g/t gold, and a 5.1M tonne Inferred resource averaging 2.48g/t gold for a total of
690koz Au of contained metal. The MRE for the Ouro Paz JV was completed by independent consultant Coffey Consultoria e Serviços Ltda (Coffey), a Brazilian subsidiary of Coffey International Ltd in accordance with the principles of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves, 2012 edition (JORC Code), and based on documentation prepared by a
Competent Person as defined by the JORC Code. The MRE was prepared based on data acquired through 22 November 2013 and released to the ASX on 19 December 2013.
The Ouro Paz Gold Project is located in the state of Mato Grosso, Brazil, held in Joint Venture between
IGS' 93% owned subsidiary Latin Gold Ltd, and Brazil-based Biogold Investment Fund. The project is
100% held by the Brazilian entity CIA Mineradora Ouro Paz S.A., which is 35% owned by Latin Gold
Ltd.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement dated 19 December 2013 and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
FOR FURTHER INFORMATION, PLEASE CONTACT:
International Goldfields Professional Public Relations
Travis Schwertfeger Tony Dawe
T: +61 8 9221 7729 T: +61 8 9388 0944
M: +61 405 989 743
E: tschwertfeger@intgold.com.auE: tony.dawe@ppr.com.au
www.intgold.com.au
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