Altona Mining Limited Stock Market Press Releases and Company Profile
Mr Kevin Maloney, invited to join the board of Universal as Non-executive Chairman, and has accepted that appointment.
Mr Kevin Maloney, invited to join the board of Universal as Non-executive Chairman, and has accepted that appointment.

Perth, July 20, 2009 AEST (ABN Newswire) - The directors of Universal Resources Limited (ASX:URL) are pleased to advise that Mr Kevin Maloney has been invited to join the board of Universal as Non-executive Chairman and has accepted that appointment. The current Chairman and Managing Director, Mr Peter Ingram, will continue as Managing Director of the Company.

"Mr Maloney has considerable experience in the resources industry, particularly in the area of capital raising and project financing. His experience and knowledge of the industry will be of great benefit to the Company as it moves towards developing its Roseby Copper Project in NW Queensland", Mr Ingram said. Mr Ingram also noted that "it is appropriate, from a Corporate Governance perspective, to separate the roles of Chairman and Managing Director as the Company advances towards production".

Mr Maloney made the following statement upon accepting his appointment.

"I am extremely pleased to accept the offer of appointment as a Director of Universal Resources and the role of Non-Executive Chairman.

Universal is in a transitional stage from that of explorer to producer and it is relevant that the composition of the Board reflect the skills and experience appropriate to this new phase.

I have been responsible for arranging project financing for coal, copper, gold, oil and gas resource projects through my past involvement with Elders Resources Finance, as well as having served as a Director of a number of listed resource companies. Furthermore, I have had extensive experience in dealing with contractors and technical consultants in all facets of finalising feasibility studies.

In recent times, in my role as Executive Chairman of The MAC Services Group Limited (ASX:MSL), I have overseen the successful listing of that ASX Top 300 company. The MAC is a leading provider of services to the mining industry.

I believe that Universal, with its proven resources and successful completion of its bankable feasibility study, is ideally placed to capitalise on the hard work that has been completed to date and I am pleased to be involved in guiding the company through its transition."

About Altona Mining Limited

Altona is a cashed up ASX listed company with a record of shareholder returns. It is focussed on the Cloncurry Copper Project in Queensland, Australia.

The Cloncurry Copper Project has resources containing some 1.65 million tonnes of copper and 0.43 million ounces of gold. The first development envisaged is the 7 million tonnes per annum Little Eva open pit copper-gold mine and concentrator.

abnnewswire.com 


Contact

Peter Ingram
Universal Resources Limited
Tel: +61-8-9486-8400

Desmond Kelly
Universal Resources Limited
Tel: +61-8-9486-8400

Kevin Maloney
Universal Resources Limited
Tel: +61-2-8346-9215



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