Revamp for Glass Earth

Former Otago gold explorer Glass Earth Gold is revamping the company, with sweeping management changes, a share consolidation and a new name.

As New Zealand's largest gold explorer, Glass Earth's initial emphasis was seven years of exploration around Otago where it spent the bulk of $40 million, before resetting its sights to gold prospects in the Central North Island, about two years ago, and quitting Otago.

Glass Earth Gold, which is listed on the Toronto and New Zealand stock exchanges, will soon be rebranded as Antipodes Gold Ltd.

Glass Earth shareholders had approved a consolidation of share capital late last year, to swap 10 old shares for one new; leaving the company with 10.56 million ordinary shares on issue.

New chief executive Thomas Rabone said Glass Earth would focus exploration in the Hauraki region, its priority being a joint venture with Newmont at the WKP prospect, which Glass Earth would manage.

Glass Earth has dropped the adjacent Neavesville prospect.

Leaving Glass Earth's board is John Dow, Paul Jones and Peter Liddle, with chief executive Simon Henderson becoming exploration manager, Adrian Fleming appointed chairman and Justin Cochrane appointed a director.

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