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Market: ASX
Sector: General Mining - Copper
EPIC: FND
Latest Price: A$0.30  (0,00%)
52-week High: A$0.51
52-week Low: A$0.28
Market Cap: A$85.42M
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Finders Resources Limited
www.findersresources.com

Finders is an emerging low cost copper cathode producer, developing a high grade 25,000 tpa copper mine on Wetar Island in Indonesia, plus a highly prospective, advanced gold-silver exploration project in Sumatra.

 

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Finders Resources FD Mike Stirzaker to step down

8th Oct 2010, 9:30 am The out-going FD will remain on the Finders board as a non-executive director

Finders Resources (LON:FND, ASX:FND) finance director Mike Stirzaker will stand down at the end October. He has landed a new senior role at a Sydney-based natural resource focused fund manager.

Stirzaker will stay on at Finders as a non-executive director.

"I'm delighted Mike is able to maintain his involvement by taking up the role of non-executive director”, chairman Russell Fountain said. “My fellow board members and I look forward to Mike's valuable input into the ongoing development of the company."

Fountain also highlighted that as FD Stirzaker played an important role in securing funding for the company, including the recent placing.

Earlier this week shareholders gave their approval of the A$20.95 million placing, at a meeting in Sydney.

Under the offer, new ordinary shares are being issued to institutional and sophisticated investors, at A$0.28 per share.

The funds will be applied to the near term development of the Wetar copper project as well as capital equipment purchases, payment of environmental bonds and relocating the Whim Creek solvent extraction and electrowinning (SX/EW) plant from Australia.

The company will also complete a revised capital estimate for the planned expansion to 23,000 tonnes per annum (tpa) copper cathode.

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