viewAlice Queen Ltd

Alice Queen thanks chairman Patrick Gowans for his contribution

Following the non-executive chairman’s resignation, the company is looking forward to continuing working with Gowans as a legal advisor to the company.

Alice Queen Ltd - Alice Queen thanks chairman Patrick Gowans for his contribution
The company is expected to announce a new chairman in the coming weeks.

Alice Queen Ltd’s (ASX:AQX) non-executive chairman Patrick Gowans has resigned from his position as a director of the company.

The company has thanked Gowans for his contribution to the company as a director and looks forward to continuing to work with him in the capacity of a legal adviser.

Gowans has played a considerable role at Alice Queen as non-executive chairman for the last 18 months as well as a director of the company’s Horn Island subsidiary, Kauraru Gold Pty Ltd, since 2017.

According to the company, he has resigned from these positions to focus on other commitments.

“Sincere thanks”

Alice Queen’s managing director Andrew Buxton said: “We would like to extend our sincere thanks to Patrick for his significant contributions to Alice Queen over the last 18 months.

“We look forward to continuing working with Patrick as a legal advisor to the company.”

“Embarked on a process”

Buxton added: “As we enter our next stage of growth, where we will be focusing on moving our flagship Horn Island Project closer to production, we will look to appoint a chairperson who will bring with them experience in overseeing companies as they transition from explorer, through development and move into production.

“The company has embarked on a process and expects to be able to announce its new chairperson in the coming weeks.”

Drilling to extend target area

The company’s latest drilling campaign at its Mendooran Project within the Northern Molong Volcanic Belt of New South Wales has extended the target area.

Recent drilling by the gold and copper explorer has confirmed that prospective Macquarie Arc rocks lie a further nine kilometres to Mendooran’s north.

While work at the project is still in its early stages, confidence is building thanks to other discoveries in the area that is within the prolific Lachlan Fold Belt.

Mendooran is in close proximity to Alkane Resources Limited’s (ASX:ALK) Kaiser-Boda discovery which cemented the area as a hotspot for copper-gold finds.

Commitments for placement

Last month, the company received binding commitments for a $1.8 million placement to progress work at its Horn Island Project in Queensland, recent Fijian acquisition and its Northern Molong Project in NSW.

The placement has been managed by Fresh Equities Pty Ltd and was strongly supported by existing major shareholder Datt Capital.

The company intends to use proceeds to assess the value of the historic run of mine and ore stockpiles at Horn Island via a planned RC drill program along with progressing the review of historical exploration results in Fiji and starting a maiden preliminary field program.

Quick facts: Alice Queen Ltd


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Market Cap: $13.7 m

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