recruitment of chief financial officer

This is good, they are gathering up all the old gang that brought Windimurra to fruitition before it was gutted by Xstrata.

Regards

I hold lots.


RECRUITMENT OF CHIEF FINANCIAL OFFICER
The directors are pleased to announce that the company has continued its programme to recruit
key personnel by appointingMike Drew as Chief Financial Officer.
Mr Drew is an experienced commercial manager and finance executive who was previously
involved between 1996 and 2000 in the development of the Windimurra vanadium mine.
Mr Drew has wide commercial experience including negotiation of joint ventures, project
financing options, negotiation and documentation of major commercial arrangements, asset
sales, litigation management, native title and operating contracts.
Since 2000 Mr Drew has held senior positions as Commercial Manager for a major mining
company in Africa, and for an Australian mining services provider based in Indonesia.
As part of his employment conditions, Mr Drew will be issued up to 400,000 options to
subscribe for ordinary shares in the Company. During the first year of employment, 100,000
options will be issued at the end of each 3 month anniversary of commencement, with an
exercise price equal to the average closing price of the shares over the 10 days prior to issue of
the options.
Mr Drew’s experience in developing and managing the Windimurra operation will be of
considerable value to the company in carrying out a new bankable feasibility study and
redevelopment of the mine. Mr Drew joins a growing number of senior personnel previously
involved in the development ofWindimurra, now working towards its redevelopment.
Yours sincerely
PRECIOUS METALS AUSTRALIA LIMITED
RODERICK SMITH
Managing Director