/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
TORONTO, Oct. 26 /CNW/ - Platmin Limited ("Platmin" or "the Company"; TSX/AIM: PPN; JSE: PLN) is pleased to announce the following changes to its Executive and Board of Directors:
Chief Executive Officer
Following the announcement dated 12 October 2009 of the retirement of Mr Ian Watson as the Chief Executive Officer (CEO) and Executive Director, Platmin has appointed Mr Tom Dale as CEO with effect from the 1st December 2009.
Mr Dale has had a long and successful career in the South African mining industry, and has held various senior positions, including Managing Director of Gencor's gold division and of Gold Fields Limited. Subsequently he was CEO of Mopani Copper Mines in Zambia and thereafter CEO of Sallies Limited. He holds a BSc (Honours) Mining Engineering degree (University of Newcastle Upon Tyne) and an MBA (University of Witwatersrand).
Commenting on his appointment, Mr Dale said: "Platmin is uniquely positioned with a large shallow resource base on the cusp of production. Taken to its full potential, it will be a very significant industry competitor, and should realise much value for shareholders. It is a privilege to join the Platmin team as it pursues that ambitious vision."
Mr Keith Liddell, who is currently Executive Chairman of Platmin, will step down from that position with effect from the 1st December 2009, in compliance with the recommendations of the King Commission. He will become one of the two Non-Executive Deputy Chairmen and contribute his valuable skills and experience in that capacity to the company. Mr Kwape Mmela, Deputy Chairman of Platmin, commented that Mr Liddell has been a Director since 2006 and has made a valuable contribution to the affairs of Platmin, both as a Director and Chairman.
The Company is pleased to advise that Mr Brian Gilbertson has been appointed the new Non-Executive Chairman of Platmin with effect from the 1st December 2009. Mr Gilbertson has held various senior positions in global mining, including Managing Director of Rustenburg Platinum Holdings Limited (now Anglo Platinum Limited) and Chairman of Impala Platinum Holdings Limited. He is currently Chairman of Pallinghurst Resources Limited (Pallinghurst) and has been a Director of Platmin since 19 December 2008.
Mr Gilbertson commented: "I worked directly with Tom for over five years in the gold industry in Gencor and Gold Fields Limited. I believe that he brings the managerial experience and focused resolve needed to realize Platmin's substantial potential. I will encourage and give him every support as he undertakes that task."
Mr Mmela said: "On behalf of the Board of directors, management and staff of Platmin I would like to congratulate both Brian and Tom on their appointments and wish them every success in taking the company forward. I also extend our sincere appreciation to Mr Ian Watson who has led the company from its grassroots exploration stage to that of a PGM producer, and to Mr Keith Liddell, who was Chairman of the Board during the start-up period."
Platmin is a mineral exploration, development and operating company engaged in the exploration for, and development of, Platinum Group Elements (PGE) deposits in South Africa. The Company has developed the Pilanesberg Project into the Pilanesberg Platinum Mine (PPM) and is exploring for PGEs on its other three key projects: Mphahlele, Grootboom and Loskop. Platmin's goal is to become a significant producer of PGEs through the development and operation of several mines on its key projects. Management's main priority is the completion of the construction phase at PPM, on time and within budget, and ramping up the mine to full production.
SOURCE PLATMIN LIMITED
For further information: For further information: Keith Liddell, Executive Chairman, +27 12 661 4280; Wayne Koonin, Chief Financial Officer, +27 12 661 4280; Investec Bank plc (Nominated Adviser), Stephen Cooper, +44 207 597 5104; Russell & Associates, Marion Brower/Nicola Taylor, +27 11 880 3924