TORONTO, Aug. 14 /CNW/ - Gladstone Pacific Nickel Limited ("GPN" or the
"Company") announce the resignation of Mr. John C Downie as the Chief
Executive Officer ("CEO") of GPN and as Managing Director from the Board of
Directors (the "Board").
John's resignation becomes effective from today and he will depart from
the Company on the 11th September 2009. His is resigning for personal reasons.
John has been the CEO since February 2007 and has helped direct the
Company through a difficult period in the nickel sector. A replacement will be
announced in due course.
The Board would like to express their gratitude for John's stewardship
during his time as CEO. Commenting on his departure, Chairman, Mr. James
"John has managed to add considerable value to the GPN assets through his
strong leadership, strategic positioning and his extensive knowledge of the
nickel industry from exploration through to processing. He leaves the Company
in a sound financial position."
The Board will continue to use John in a consultancy capacity to the
Company where he will assist and advise on the continued development of the
Gladstone Pacific Nickel Limited (GPNL) is an Australian mining
development company presently undertaking an Integrated Definitive Feasibility
Study (IDFS) for the Gladstone Nickel Project (GNP). The Company's vision is
to build a major long-life nickel cobalt refinery at the deepwater Port of
Gladstone, in Central Queensland, Australia, treating abundant high grade
nickel laterite ores from New Caledonia and other south-west Pacific islands,
underpinned by beneficiated ores from its own Marlborough deposits. The
Project has the potential to be one of the largest of its type in the world
producing some 126,000 tpa nickel (8 - 10% of global nickel demand) and 10,400
tpa of cobalt metal from its first two stages.
For further information:
For further information: or comment: J. Henderson, Chairman - Gladstone
Pacific Nickel, Tel: +61 (0)2 882 3101; Fiona Owen - Grant Thornton UK LLP,
Tel: +44 207 383 5100; John Prior - Arbuthnot Securities, Tel: +44 207 012
2000, Email: email@example.com