TIDMNAD
RNS Number : 5029L
Namakwa Diamonds Limited
05 September 2012
5 September 2012
Namakwa Diamonds Limited (AIM: NAD)
("Namakwa Diamonds", the "Company" or the "Group")
Board and Senior Management Changes
Namakwa Diamonds announces the following changes to its Board of
Directors and senior management team at its 62.5% owned Storm
Mountain Diamonds subsidiary, the operator of the Kao Mine in
Lesotho. The changes take effect immediately.
Namakwa Diamonds Board
Craig Campbell (42), has been appointed Chief Financial Officer
and a director of the Company. Craig has held senior positions, and
served on the Board of Directors, for resources companies listed on
the JSE Securities Exchange, the AIM Market of the London Stock
Exchange, the Australian Securities Exchange and the Toronto Stock
Exchange. He was most recently the Chief Financial Officer of Coal
of Africa Limited, a company listed on the ASX, AIM and JSE. Prior
to that, he served as Chief Financial Officer and a director for
Central African Gold Plc, BRC DiamondCore Ltd. and Diamond Core
Resources Limited. Craig is a member of the South African Institute
of Chartered Accountants and the South African Institute of
Directors.
Revised Board Structure
Following this appointment, the Board of Namakwa Diamonds will
be constituted as follows: Melissa Sturgess (Non-executive
Chairman), Theo Botoulas (Chief Executive Officer), Craig Campbell
(Chief Financial Officer), Martiens Mulder (Senior Independent
Non-executive Director), Robert Reid (Independent Non-executive
Director), Gerard Holden (Non-executive Director) and Vladimir
Kravets (Non-executive Director).
Commenting on Craig's appointment, Melissa Sturgess, Chairman of
Namakwa Diamonds said: "Namakwa Diamonds is currently undergoing a
re-organisation of its resources, operations and assets. The
addition of Craig to the management team during this important
period in the Company's development should help us to derive
maximum shareholder value from the Group's Operations in Lesotho
and South Africa".
Storm Mountain Diamonds
Theo Botoulas will assume the role of Executive Chairman of
Storm Mountain Diamonds from his current position as Non-executive
Chairman.
Keith Whitelock has tendered his resignation as CEO of Storm
Mountain Diamonds and will be replaced by Jan Venter. Jan, a
Lesotho Citizen, has been involved in a number of civil engineering
projects throughout Lesotho. He joined Letseng Diamonds in 2000 and
was appointed Assistant General Manager - Services in 2006 as a
member of a small dedicated team that re-constituted the mining
operation. Jan joined Storm Mountain Diamonds in 2010 as General
Manager, and working with Keith Whitelock, was responsible for the
initiation of the Kao Project. Jan holds a Diploma in construction
management from the University of the Free State.
Pieter van Zyl has tendered his resignation as a Director and
CFO of Storm Mountain Diamonds and will be replaced by Patrick
Durant. Pat has worked in the diamond industry for 21 years during
which time he held positions including Financial Manager of:
Namaqualand Mines, Finsch Mine, Kimberley Mines, Koffiefontein Mine
in South Africa and Namdeb Diamond Corporation (Pty) Ltd in
Namibia. He was seconded to Angola by De Beers where he was
appointed both General Manager and Financial Manager and was
responsible, inter alia, for the sorting offices in that country.
Pat also spent four years as Financial Manager for Debtech, whose
primary business is research and development and centralised
technical services, at its Head Office in Johannesburg.
Pat Durant is an experienced financial professional focused on
the mining sector (and associated technical disciplines) with a
proven track record in maximising the profitability of diamond
mining operations through his understanding of orebodies, the
selection of cost-effective mining and diamond extraction
technologies, and the control of associated costs.
Revised Board Structure
Following these appointments, the Board of Storm Mountain
Diamonds Limited will be constituted as follows: Theo Botoulas
(Executive Chairman), Jan Venter (Chief Executive Officer), Patrick
Durant (Chief Financial Officer), Ashwin Willemse (Non-executive
Director), Andre Bothma (Non-executive Director), Neo
Phakaoana-Foulo (Non-executive Director) and Sekamotho Khaketla
(Non-executive Director).
Commenting on the appointments, Theo Botoulas, CEO of Namakwa
Diamonds said: "The evolution of the Kao Mine from a capital
project to an operating mine with sustainable production over time
is the immediate focus of the management team.
"I am cognisant of the solid foundation laid by Keith Whitelock
under difficult circumstances over the past three years. His
contribution to the diamond mining industry, and to the industry in
Lesotho in particular, is well documented as is his successful
track record in diamond mining and exploration. Keith has been a
personal mentor over several years and his contribution to my own
development, and that of many other people, is something for which
I am immensely grateful.
"I would likewise like to thank Pieter for his contribution. I
look forward to working with Jan and Pat to achieve our objectives
for Kao for the benefit of all stakeholders in the project".
For further information please visit www.namakwadiamonds.com or
contact:
Namakwa Diamonds Shore Capital
Theo Botoulas +27 11 334 8886 Pascal Keane +44 20 7408 4090
Tavistock Communications
Simon Hudson +44 20 7920 3150
Disclosure of Directorships under Schedule 2(g) of the AIM
Rules
There are no further disclosures to be made for Craig Campbell's
appointment under Schedule 2 (g) of the AIM Rules save as set out
below:
Full Name
Mr Craig Ian Campbell
Age
42 years
Current Directorships
None
Past Directorships within last 5 years
BRC DiamondCore Ltd.
Central African Gold plc
Central African Gold Technical Services (Pty) Ltd
Diamond Core Alluvial Projects (Pty) Ltd
Diamond Core Holdings (Pty) Ltd
Diamond Core Kimberlite Projects (Pty) Ltd
Diamond Core Mining & Exploration (Pty) Ltd
Diamond Core Resources Ltd
Diamond Core Technical Services (Pty) Ltd
Diamond Core Trading (South Africa) (Pty) Ltd
Dikeing Mining (Pty) Ltd
Falcon Gold Zimbabwe Limited
Falcon Mines SA
Fumaria Property Holdings (Pty) Ltd
GVM Metals Administration (South Africa) (Pty) Ltd
Harrissia Investment Holdings (Pty) Ltd
Mooiplaats Mining Limited
Olympus Gold Mines Limited
Prieska Diamond Mining (Pty) Ltd
Samadi (Douglas) Exploration (Pty) Ltd
Samadi Exploration (Pty) Ltd
Samadi Gemsbok Resources (Pty) Ltd
Samadi Resources (SA) (Pty) Ltd
Sandstraat Eksplorasie (Pty) Ltd
Tshipise Energy (Pty) Ltd
Vuna Mining Enterprises (Pty) Ltd
About Namakwa Diamonds Limited
Namakwa is a diamond resource group, which seeks to extract
maximum value from the marketing and sale of Group mined and
contracted production.
The Group's mining activities are focused on the Kao Mine in
Lesotho. Operated by Storm Mountain Diamonds and its leading
hard-rock mining team, with a proven track record in the
construction and development of Lesotho's leading kimberlite pipes,
the Kao Mine presents a 189Mt kimberlite resource of c.12.8m carats
(c.4m indicated and c.8.8m inferred), with an additional 1.7m
carats at a deposit level of confidence, in which Namakwa holds a
62.5% interest. The other shareholders are the Government of
Lesotho 25% and Kimberlite Investments Lesotho Limited 12.5%.
The Group also maintains alluvial mining operations in the North
West Province of South Africa and resource-development properties
in the Northern Cape Province of South Africa and the offshore
marine environment of Namibia.
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
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