ASX-listed resources company Blackthorn Resources‘ chairperson, Bill Cash and MD Scott Lowe, have informed the company of their intent to resign.Cash has announced his intention to retire from the company at this year’s annual general meeting, scheduled for 28 November 2013. Mike Oppenheimer, currently a non-executive director of Blackthorn Resources, will become chairperson effective at that time. In committing to this change Blackthorn said that its board has considered the changing nature of the company’s focus and priorities, in particular the transition of its flagship Kitumba copper project in Zambia to the development phase. Cash joined the board of Blackthorn Resources in 2007 and has been chairperson of the company since 1 January 2009. Under his stewardship, the company was restructured and repositioned to achieve the success of recent years.
“The board of Blackthorn Resources led by Mr Cash has done an excellent job over the last several years to steer the company through challenging times and optimise its assets. Looking ahead, the company is very well positioned for the future and building shareholder value will be Blackthorn‘s number one priority,” said Oppenheimer.Meanwhile, MD Scott Lowe has advised of his intention to leave the company before the end of 2013 to pursue the next stage of his career. Prior to this he will focus on delivering the company’s current goals; the completion of the Kitumba pre-feasibility study and first commercial shipment from the Perkoa zinc project. Blackthorn advised that an executive search will be undertaken for a new CEO. “Mr Lowe has delivered a great deal for shareholders and has contributed enormously to development and delivery of Blackthorn Resources‘ strategy. During Mr Lowe‘s term as CEO and MD, the Perkoa silver lead and zinc project in Burkina Faso has been taken from care and maintenance to being financed via a joint venture with global mining house Glencore through to commissioning. He has also overseen taking the Mumbwa copper project in Zambia from a minority interest in a grass roots exploration JV with BHP Billiton to a 100% owned project with an attractive resource and potential for commercial development. While we will be sorry to see Mr Lowe depart, we respect his decision and wish him every success in the future,” said Cash.