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DEVELOP GLOBAL LIMITED — Board/Management Information 2023
Feb 9, 2023
64801_rns_2023-02-09_f9bd492d-7417-44f6-8d25-17590f29f3e2.pdf
Board/Management Information
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ASX Announcement February 10, 2023
Resignation of Director
Develop (ASX: DVP) advises Mick McMullen has resigned as a Non-executive Director, effective today.
Mr McMullen is Chief Executive of Metals Acquisition Corp (MAC), which is a New York Stock Exchange-listed Company in the process of buying the CSA Copper mine from Glencore in Western NSW.
Develop Non-Executive Chair Michael Blakiston said Mr McMullen had made an outstanding contribution to Develop. However, his resignation would remove the potential for conflicts of interest in the event that Develop and MAC pursued possible transactions involving both companies.
“Develop is establishing significant mining services capabilities in Western Australia and New South Wales,” Mr Blakiston said. “Looking to the future, there may be potential for the two companies to establish a mutually beneficial arrangement.
“In order for any such discussions to proceed, it is in the interest of both companies that Mr McMullen resign from the Develop Board.
“On behalf of the Board, I would like to thank him for his significant contribution to Develop.”
Develop Managing Director Bill Beament has resigned as an advisor to MAC, effective today.
Authorised for ASX release by the Board of the Company.
Investor Enquiries
Bill Beament DEVELOP Global Limited T: +61 8 6389 7400 E: [email protected]
Media Enquiries
Paul Armstrong Read Corporate P: +61 8 9388 1474 E: [email protected]
About Develop
Develop (ASX: DVP) has a twin-pronged strategy for creating value. The first of these centres on the exploration and production of future-facing metals. As part of this, the Company owns the Sulphur Springs copper-zincsilver project in WA’s Pilbara region. This project is currently the focus of ongoing exploration to grow the inventory and various development studies. Develop also owns the Woodlawn zinc-copper project in NSW. Woodlawn, which is on care and maintenance, comprises an underground mine, a significant JORC Resource and Reserve and a new processing plant. The second plank of Develop’s strategy centres on the provision of underground mining services. As part of this, Develop has an agreement with Bellevue Gold (ASX: BGL) to provide underground mining services at its Bellevue Gold Project in WA.
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