Davenport Resources Limited (ASX:DAV) became a separate entity on 26 February 2016 as a result of a demerger from Arunta Resources Limited. The Company is currently undertaking an IPO and ASX listing that will result in the acquisition of East Exploration Pty Ltd (EE), a private Australian company. Through a wholly owned and controlled German subsidiary, East Exploration GmbH, EE holds potash project licences, in Germany’s South Harz potash district.
The South Harz Potash District in the northern part of the German Federal State of Thuringia has a history of producing Muriate of Potash (MOP) from both Sylvinite and Carnallitite ores. Historically potash ores have been mined by both conventional underground and solution mining operations. Prior to the re-unification of Germany the district (in the former German Democratic Republic) produced approximately 3.5 million tonnes of K2O annually (approx. 4.4 million tonnes of MOP).
The project comprises two exploration licenses covering a total area of approximately 457km2. The Küllstedt license covering an area of 241km2, was granted on the 12 Jan 2015. The Gräfentonna license covers an area of 216km2 was also granted on the 12 Jan 2015. Under the German Mining Law the exploration licenses are granted for a term of 5 years with an option to renew for a further 3 years.
In addition to the proposed acquisition of East Exploration, Davenport retains an Australian exploration project, the Southern Cross Bore project, located approximately 75km north of Alice Springs in Australia’s Northern Territory. The project comprises exploration licences covering an area of approximately 650 km2, prospective for Iron Oxide Copper and Gold (IOCG) style mineralisation.
DAVENPORT RESOURCES LIMITED
Company details: TBA
ABN: 64 153 414 852
ASX Code: DAV
THE BOARD & SENIOR MANAGEMENT
Patrick McManus -BSc (Hons),MBA, FAusIMM,FAICD
Proposed Director and Non-Executive Chairman
Patrick McManus has a degree in mineral processing from Leeds University and an MBA from Curtin University. A mining professional for more than 30 years, his work has taken him to many sites within Australia and overseas, including Eneabba and the Murray Basin in Australia, and Madagascar, Indonesia and the United States. During that time, Patrick has worked in operational, technical and corporate roles for RioTinto, RGC Limited and Bemax Resources Limited. He was a founding director and, from January 2007 to March 2010, managing director of ASX-listed Corvette Resources Limited. Patrick McManus is the Managing Director of Potash West NL.
Mr McManus is proposed to become the new Non-Executive Chairman of the Board when the acquisition of East Exploration is completed.
Christopher Bain -B App Sc (App Geol), Dip Geo Sc, MAusIMM, GAICD
Mr Christopher Bain is a current Non-Executive Director of Davenport and will be appointed as Managing Director upon completion of the acquisition of East Exploration. Mr Bain is a geologist and mineral economist, with over 35 years experience including underground mining and exploration throughout Australia. He has lead mining research teams on both the buy and sell side and successfully managed a boutique resource equity investment fund. As a corporate advisor he has been instrumental in mining project divestitures and acquisitions, valuations, capital raisings and managed several initial public offers (IPOs) and ASX listings. Mr Bain is a non-executive director of ASX listed KGL Resources Ltd and Metalicity Ltd.
Rory Luff -BCom
Mr Rory Luff is a current Non-Executive Director of Davenport. He is the founder of BW Equities, a specialist Melbourne equities advisory firm and has over 15 years experience in the financial services industry. Rory has spent most of his career in the financial markets advising resources companies on capital raisings and financial markets strategy.
Mr Angus Edgar is a current Non-Executive Director of Davenport. He has been employed in the finance/stockbroking industry since 1985. During that time he has provided corporate advisory services to private and ASX listed companies and has been instrumental in the listing of several new companies onto the ASX. Mr Edgar has agreed to a six-month engagement as a Director following ASX listing of Davenport.
Rajan Narayanasamy – B Bus (Acct), CPA (Aust)
Mr Rajan Narayanasamy has served more than 20 years in the resources industry, having engaged with both listed mineral exploration companies and producers. His experience covers finance, accounting and secretarial; and was previously CFO/Company Secretary of Saracen Mineral Holdings, a listed gold producer.
Jason Wilkinson - MSc, BSc, CSci, MIMMM – Project Director
Proposed Management Appointment
A geologist with over 25 years experience, he has worked in Australia, USA, Middle East, Turkey and Greece. His most recent role was as in-country MD for a potash project in Ethopia where he established the exploration team taking the project through a full resource drill-out and feasibility study. He is currently acting as consultant geologist and project manager to East Exploration GmbH. Mr Wilkinson resides in Europe and will be responsible for planning and implementing Davenport’s potash exploration program.