|By Marketwired .||
|March 12, 2014 07:00 AM EDT||
WELLINGTON, NEW ZEALAND -- (Marketwired) -- 03/12/14 -- Glass Earth Gold Limited (TSX VENTURE: GEL)(NZAX: GEL) ("Glass Earth" or the "Company") announced today that it has undertaken a restructuring of the Company to reflect its singular focus on hard-rock gold exploration and development in New Zealand's Hauraki region, site of its key joint ventured WKP gold project (Glass Earth 35%; Newmont Mining Limited "Newmont" 65%).
The Company has separately announced today, the successful negotiation of a restructuring of the Hauraki Joint Venture with Newmont. The changes announced here are directly connected with that restructure and the steps required for financing the resource definition drilling campaigns planned for the WKP project. (Please refer to news release also dated 11 March 2014 "Glass Earth Gold Announces New Deal with Newmont".)
As well as the Company taking over management at the WKP gold project, the key changes being implemented are:
-- Restructuring of the Board of Directors - to provide energy and impetus for the Company's revised strategy, -- Appointment of a new CEO - Mr Thomas Rabone, with a background in law, business and mining, -- Change of name - to Antipodes Gold Limited, to reflect the company's revision of strategy and narrower focus, and -- Implementation of share rollback - to consolidate shares and allow future financing.
Board of Directors and CEO Changes
The Board of Directors has been trimmed to allow for the introduction of a new CEO/Director and to provide the capacity for a new shareholder to be appointed as a Director of the company.
Messrs John Dow, Paul Jones and Peter Liddle have advised of their resignations as directors. Mr Simon Henderson has advised of his resignation as CEO and will remain with the Company as a director and as Exploration Manager. The Company acknowledges and very much appreciates the efforts of all parties over an extended period.
Thomas Rabone has been appointed to the Board of Directors and as the Company's President and Chief Executive Officer, and Adrian Fleming was elected as Chairman of the Board.
"We appreciate all continuing support from our shareholders" stated Adrian Fleming, "and our restructure of our Board and management will provide renewed focus and a clear direction for the Company."
The Company's Board of directors now consists of:
-- Adrian Fleming (appointed Chairman), -- Justin Cochrane (Audit Committee chairman), -- Thomas Rabone (appointed President and CEO), and -- Simon Henderson (Exploration Manager)
Name Change and Share Rollback
Glass Earth was founded as a company to collate existing data and gather new data over geological provinces, looking for key characteristics of large mineralized systems capable of hosting significant gold deposits; the WKP gold project results from this enterprise.
The exclusive focus on the drilling and development of the WKP gold resource in the Hauraki region is a fundamental change in strategy and direction for the Company.
The new name will be, subject to regulatory approval, Antipodes Gold Limited, reflecting the geographical and commodity focus of the Company.
In late 2013, Glass Earth shareholders approved a consolidation of its share capital on a ten (10) old for one (1) new share basis. That consolidation is to be implemented in March. Upon completion of the share consolidation, a total of 10,566,560 common shares will be outstanding.
The name change and share consolidation will be contemporaneous and until that time, the Company's exchange code will remain as 'GEL'.
About the Company
Glass Earth (soon to be renamed Antipodes Gold Limited) is an exploration and development company with an experienced team focused on establishing gold resources in New Zealand's Hauraki region - host to low-sulphidation epithermal gold-silver deposits including the Newmont-owned Martha gold mine. The Company's strategic priority is to advance the high-grade potential of the joint ventured WKP project (Glass Earth 35%, Newmont 65%).
In March 2014 this joint venture was renegotiated to give the company project management and sole-funding control of further planned development of the WKP project, which at present holds an NI 43-101-compliant inferred resource estimate of 260,000 ounces of gold at an average grade of 6.1 g/t Au (and cut-off grade of 3 g/t Au).
For more information and to subscribe further news updates, please visit antipodesgold.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor New Zealand Exchange Limited has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.
Glass Earth Gold Limited
President and Chief Executive Officer
+64 22 649 9690
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Nov. 27, 2015 06:00 PM EST Reads: 411
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 27, 2015 04:00 PM EST Reads: 172
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving t...
Nov. 27, 2015 02:00 PM EST Reads: 409
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
Nov. 27, 2015 01:00 PM EST Reads: 171
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 27, 2015 01:00 PM EST Reads: 153
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Nov. 27, 2015 12:00 PM EST Reads: 541
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Nov. 27, 2015 12:00 PM EST Reads: 464
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Nov. 27, 2015 11:45 AM EST Reads: 536
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 27, 2015 11:00 AM EST Reads: 312
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 27, 2015 10:45 AM EST Reads: 383
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Nov. 27, 2015 10:45 AM EST Reads: 397
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Nov. 27, 2015 10:00 AM EST Reads: 306
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 27, 2015 10:00 AM EST Reads: 491
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Nov. 27, 2015 09:45 AM EST Reads: 220
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 27, 2015 09:15 AM EST Reads: 291