9
BASSMETALS LTD
…
re-emergent, with a renewed focus on shareholder value
Mike Rosenstreich is Managing Director at Bass Metals. Working on the key priorities determined by the
Board, Mike oversees Bass’ operational and corporate objectives in the best interests of shareholders.
A geologist with 13 years of experience gained in both exploration and mining roles, Mike regards himself
as an experienced mining executive with sound leadership, technical, corporate and financial skills tempered
and tested through times of success and also adversity. He comments “I have found the personal qualities
of being energetic and tenacious, along with characteristics such as innovation, integrity and humour,
are paramount in this industry”. Mike also tries to inspire a collegial and collaborative culture within the
corporate environment he oversees.
Mike has been a member of the WA Mining Club for six years. “I love the resource industry and meeting
the widely varied personalities that are involved”, says Mike.
Most admired business leader:
Henry Ford
Likes doing away from work:
Family time, cycling, music, supporting the Dockers
Future goals:
Undertake a motor cycle restoration project
Preferred dinner guest:
Tim Minchin
Bass Metals undertakes exploration
for high-grade polymetallic gold and
base metals deposits with a focus on
volcanogenic massive sulphide (VMS)
terrains. These types of deposits are
often high grade, with several different
payable metals in the one ore. Bass has
a dominant land position in the highly
mineralised Mount Read Volcanic
mineral belt in north-west Tasmania
and is actively seeking new project
opportunities around the world.
Following exploration success, Bass
developed several mine operations on
both its Que River and Hellyer mine
leases since 2007 selling both base metal
ores and concentrates. However, with
unexpected operational issues at its
underground Fossey mine in early 2012
and in an environment of declining metal
prices, Bass wound down operations
and completed a major asset sale to
eliminate its debt and recapitalise the
company. This involved the sale of the
Hellyer processing plant and gold assets,
completed in February 2013, whilst
retaining exploration and development
rights in respect of base metals over the
Hellyer Mine Lease as well all its other
Tasmanian exploration interests.
Bass has resumed exploration activities
on its Tasmanian tenements but with a
revised exploration strategy focused on
discoveries of new large scale ore bodies
–
not incremental pods near existing
mine developments. The Board has also
agreed that increased attention needs to
be focused on diversification into a new
project either through an acquisition,
farm-in or a corporate transaction.
Bass Metals has both the corporate and
exploration skills to discover or acquire
and then develop new projects – which
is how it plans to re-establish value in its
business for shareholders.
Meet WAMC Member – Mike Rosenstreich
Bass Metals has completed an asset sale transaction, enabling the company to
clear its debts, relaunch exploration and undertake new acquisition assessments.
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Contact:
Bass Metals Ltd
T: 08 6315 1333
E:
mike.rosenstreich@bassmetals.com.au
www.bassmetals.com.au