Pima Mining, page-7

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    Hi Achapman,

    This may explain away the resurgent insterest in PAL:

    CORPORATE FILE (17/07/02):

    Summary Announcement. Gordon Galt

    The Board of Pima Mining NL is pleased to announce that Mr Gordon Galt has been appointed as Managing Director.

    Pima Chairman, Mr David Karpin said Mr Galt's extensive experience and track record in developing large scale projects will provide the impetus necessary to ensure the commercial success of the SAMAG Magnesium Project at Port Pirie.

    Welcoming Mr Galt to the company Mr Karpin said "One of the keys to making this project work is having the right management and operational team in place to capitalise upon SAMAG's proven process technology, world class resources and sound financial fundamentals."

    "Gordon, has an impressive record in taking major resource projects such as Cadia, from their planning and development stages, through to commercial production."

    Mr Galt, 51, was chief executive of gold mining company Newcrest Mining from December 1997 to March 2000 and was responsible for bringing the Cadia mine at Orange in New South Wales and the Gosowong mine in Indonesia into production. He also started development of Newcrest's Ridgeway mine at Orange and completed early work on the large scale Telfer redevelopment which is currently in the final stages of feasibility.

    Previously, Mr Galt was Managing Director of NSW coal producer Cumnock Coal. He provided Cumnock with the strategic focus that was needed to help Cumnock significantly expand its production and to raise funds for development.

    Most recently, Mr Galt has been Head of the Integrated Energy at leading investment bank ABN AMRO.

    He holds Bachelor of Commerce and Bachelor of Engineering (Mining Hons) degrees from the University of Queensland and a First Class Mine Manager's Certificate of Competency.

    Mr Galt is a Member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors.

    Mr Karpin thanked Pima's retiring Managing Director, Mr Ric Horn, for his tireless efforts in developing the project to the Bankable Feasibility Stage.

 
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