Discovery Metals Limited (DML) said its seven prospecting licences in the Ghanzi district of Botswana, originally granted in 2008, have been renewed for a further two years. The company also revealed it has appointed a Company Secretary.
The move makes the BSE quoted company the largest prospecting licence holder in the Kalahari Copperbelt (now 8,877 square kilometres).
Discovery said it will progress with exploration of all of the renewed tenements, adding that there is a possibility of another Boseto, the company’s flagship in Botswana which is expected to be commissioning in the first half of next year.
“Renewal of these Prospecting Licences is an important milestone towards our goal of finding another Boseto style project to complement the Boseto copper project, which remains on schedule for commissioning in the first half of 2012,” DML Managing Director, Brad Sampson, said.
The company added that as part of the renewal process, it has relinquished some areas that, after analysis by the company, are not considered to be prospective.
All areas applied for were granted. The renewed tenements contain parts of the Mid Kalahari exploration zone and the entire South-west Kalahari exploration zone.
DML also holds an additional seven Prospecting Licences (PLs), granted in October 2005, in the Ngamiland District (which contains the Boseto Mining Licence area), and the overall area now held by Discovery Metals covers 8,877 square km.
Discovery also added that it has appointed Gregory D. Seeto as Company Secretary. Seeto, a solicitor LLB (Hons), BJ, GradDipLP, GradDipACG, comes to the Company from a large legal firm.
He is an associate member of Chartered Secretaries Australia and is a legal practitioner of the Supreme Court of Queensland and High Court of Australia.
Seeto has experience as a senior lawyer at a top-tier law firm and as a listings adviser at the Australian Securities Exchange. Seeto takes up his appointment on 1 September 2011 and is a full time employee of Discovery Metals.
The new Secretary replaces Roslynn Shand who has been the Company Secretary for Discovery Metals in a part time capacity since May 2007.
The company has also appointed Chief Financial Officer, Paul Fulton as Alternate Company Secretary.
“It is pleasing to enlist the service of a high caliber candidate for the role as Company Secretary. The company has transitioned into the ASX200 Index this year and it is appropriate to maintain the high standards of governance from the Company’s permanent staff,” Sampson said.
“I also wish to thank Ros for her outstanding contribution to the Company through this rapid growth phase. Ros will continue to provide company secretarial services to a number of her existing clients. My sentiments are echoed by my fellow directors and the executives of the Company”.