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Anova undertakes corporate restructuring

8th August 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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KALGOORLIE (miningweekly.com) – Junior explorer Anova Metals is preparing to close its Brisbane office in an effort to save cash.

ASX-listed Anova said on Tuesday that a review of the company’s strategy, cost and funding options had resulted in a corporate restructure to reduce the fixed overheads while preserving development options and work programmes at the Big Springs gold project, in the US.

As part of the restructure, three full-time staff positions would be made redundant, including that of MD Tim Dobson.

Dobson would be stepping down from the board, with nonexecutive director Bill Fry becoming the company’s executive director. Alasdair Cooke would also join the board as a nonexecutive director.

Meanwhile, the work programmes at Big Springs would continue, with priority placed on upgrading the status of the resource and advancing permitting and feasibility study programmes.

Edited by Creamer Media Reporter

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