Marenica Energy Ltd .: CEO Appointment
07.05.2012 Marenica Energy Ltd. (ASX: MEY) (the "Company") is pleased to announce that Murray Hill has been appointed as the new CEO.
Murray Hill has 27 years of experience in the mining industry. He is a very respected metallurgist and has experience in commissioning equipment. He led a metallurgical test lab, was chief process engineer at an engineering company in Perth and has a thorough knowledge of uranium metallurgy. For the past 11 years, he has been self-employed advising mining companies on metallurgy issues worldwide.
Hill holds a Bachelor of Applied Science in Metalworking (Geology) from Murdoch University and is a member of the Australian Institute of Mining and Metallurgy.
The company is in the process of developing the Marenica uranium deposit in Namibia. This deposit has special metallurgical properties which, in the opinion of the Board, concentrate the uranium and thus significantly increase the value of the resource. In the metallurgical area, Hill will focus on assessing the appreciation potential of the ore. The goal is to find out if this resource can use uranium recovery processes that cause low capital and operating costs such as scrubbing, screening, de-sliming, gravity separation, magnetic separation and flotation.
The company's CEO, Robert Pearce, said, "Marenica Energy is fortunate to have someone with the experience and skills that Hill has as CEO. In these times of acute shortage of skilled workers, this can already be described as a coup. "
Hill can take on this task immediately as he is very familiar with the Marenica portfolio because of his consulting work for the company in the last 18 months and his membership in the company's technical monitoring committee, which consists of corporate employees and industry experts.
Hill was on 1. May appointed 2012 as CEO. Below you will find the terms of his appointment in detail:
Running time:
Not fixed.
Total references:
283.400 $ per annum, consisting of a base salary of 260.000 $ pa plus payment to a pension fund according to the Superannuation Guarantee (Administration) Act 1992 (Cth).
Notice period:
In the event of termination without good cause, each party must comply with a period of notice of three months.
Shares:
Options according to the employee option program, which was decided by the Executive Board
Robert Pearce
Chairman
For further information please contact:
Robert Pearce, Chief Executive Officer of Marenica Energy Ltd.
Phone + 61 8 9321 7355.
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