Breaker Resources NL (ASX: BRB, 'Breaker') is pleased to announce the appointment of Peter Cook as Non-Executive Chairman, effective 6 September 2021.
Mr Cook will replace current Executive Chairman and Breaker founder, Tom Sanders, who will move to the role of Managing Director. Mr Cook is a Geologist (BSc (Applied Geology)) and a Mineral Economist (MSc (Min. Econ)), MAusIMM with over 35 years of experience in the field of exploration, project, operational and corporate management of mining companies.
He is currently Non-Executive Chairman of Westgold Resources Limited (ASX: WGX), NonExecutive Chairman of Castile Resources Limited (ASX: CST) and Non-Executive Chairman of Titan Minerals Limited (ASX: TTM). Over the past two decades, Mr Cook has founded and served as Managing Director or Chairman on many Boards and successful miners and developers in gold and base metals. During the past three years he has served and continues to serve as Chairman of Castile, Managing Director of Westgold and later as its Executive Chairman before recently stepping back from all executive roles.
During this period he also served as Non-Executive Chairman of Nelson Resources Limited (resigning on 1 February 2019). Over his distinguished career he has been recognised by the industry, being awarded the GMJ Mining Executive of the Year in 2001, the Asia - Mining Executive of the Year in 2015 awarded at the Mines and Money Conference in Hong Kong, the Mining News CEO of the Year award in 2017 and the Gavin Thomas Mining Award in 2019.
Mr Cook said he was delighted to become the Chairman of Breaker.
'I am keen to apply my experience and expertise to help guide the Company through its next phase of exploration and development at its Lake Roe Project east of Kalgoorlie, Mr Cook said. 'The recent discovery of the stacked shallow dipping lodes at Bombora has in my opinion been a game changer, adding massive underground upside to what is already a large and significant virgin gold discovery. 'To top that off, it appears that the team have made a significant lithium discovery nearby within the Company's Lake Roe tenure at the Manna Prospect'.
Mr Sanders said Mr Cook's track record in bringing many mines into production and his extensive corporate experience will bring enormous value and support to Breaker. 'I am thrilled to welcome Peter to the Breaker Board as an Independent Director and Non-Executive Chairman. He is one of the most respected and credentialed mine makers and corporate developers in the Australian mining industry with a long history of achievement, Mr Sanders said.
'He has a great mix of skills and his appointment enhances the governance structure of the Board. As a result, Breaker has strengthened its key skills and experience spanning geology, mining, business development, operations and capital markets as it embarks on its next phase of growth.' Mr Cook will receive an annual fee of $80,000, plus statutory superannuation. Prior to his appointment, Mr Cook was granted 2,000,000 unlisted options under the Company's Incentive Option Scheme pursuant to Listing Rule 10.12 exception 12. The options were granted at an exercise price of 117.5% of the 5 day VWAP up to, and including, 3 September 2021. The options expire three years from the date of grant.
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About Breaker Resources NL
Breaker Resources NL (ASX: BRB) core focus is unlocking the potential of a major new greenfields gold district at its 100%- owned, 700km2 Lake Roe Gold Project, located 100km east of Kalgoorlie, Western Australia. The project is situated between two operating gold mines on a recently identified southern extension of the 22Moz Laverton Tectonic Zone. After discovery of the Bombora deposit in 2015, drilling identified a typical Archean, multi-lode gold deposit hosted by dolerite with some of the best drill hits in Western Australia, such as 17m @ 15.85g/t, 7m @ 61.78g/t and 32m @ 15.31g/t (ASX Release 27 July 2020). The project has the attributes of scale, high-grade and outstanding growth potential in a 9km-long gold system that is growing in several areas. Gold at the main Bombora deposit occurs in a 150m-wide zone, starting 5m from surface in a 3km-long single pit configuration with the flexibility to transition underground based on extensive high-grade lodes discovered below the open pit Resource since 2020. An April 2021 Resource update resulted in a 40% increase entirely from new extensional areas, including a maiden underground Resource. Another Resource update is planned for late in the December quarter or early in the March 2022 quarter