Elvis has left the building August 19
THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry. The Whisperer pokes his head down the corridors of power to take a quick look at some of the chairs to have recently been vacated and to find out which ones have been filled:
Resignation of Non-executive Director
Thor Mining has advised the market Norm Gardner has resigned as a non-executive director of the company with immediate effect.
Gardner is also managing director of Western Desert Resources and his resignation from Thor is aimed at devoting his full energies into that company’s activities.
Commenting today, Mr Mick Billing, Executive Chairman of Thor Mining, said:
“Norm Gardner has been very influential in helping set the direction for Thor during the past 3 years, and we have greatly appreciated his contribution. We are pleased to retain an ongoing contribution to our Board from Mr Mick Ashton who is also a director of Western Desert, our largest shareholder.”
Changes to Fortescue’s Board of Directors
Fortescue Metals Group announced the retirement of Dr Ian Burston from the board of directors.
Burston joined the board in October 2008 and has been a member of the Audit and Risk Committee since that time.
Personal issue have led Burston to hold concerns regarding his ability to devote the requisite time to Fortescue.
Fortescue also announced that Dr Geoff Raby accepted an invitation to join its board as a non-executive independent director.
In announcing the appointment, Fortescue chairman Andrew Forrest said the company was delighted to have a person of Raby’s experience join the board.
“Geoff brings to the Board a unique cross section of skills in the arena of international trade and particularly in relation to China that will strongly compliment the depth of experience already existing within the current board structure,” Forrest said.
Resignation of Managing Director
Iron ore producer and explorer, IMX Resources informed the market of the resignation of managing director Duncan McBain.
Company chairman Johann Jacobs, said McBain had lead IMX for the past four and a half years, taking it from a multi commodity explorer to a being an iron ore producer, steel maker and raw material and copper explorer.
McBain will undertake the role of chief executive officer pending the appointment of a new managing director.
Changes at the Board Level
Dourado Resources announced a number of new additions to its current board of directors.
The company announced the appointments of Graeme Allan as non-executive chairman and Shane Casley as non-executive director.
Peter Del Fante will remain as managing director of the company.
Allan is a director of WGM Asset Management, which is in partnership with WGM Indigenous Services to increase and develop Indigenous employment in the civil and mining industry in the mid-west region of Western Australia.
He is also a Director of civil construction company BGA Civil.
Casley is currently a managing partner at Affinity Accountants – a well-regarded Victorian firm.
Casley is also one of Australia’s most respected advisors in Sports Management and has been an accredited Australian Football League Agent since 1996.
Appointment of Managing Director
Forge Resources has appointed Dr Matthew James to the role of managing director.
James joins Forge Resources from Lynas Corporation where he held the role of executive vice president Strategy and Corporate Communications with accountability for strategy and business development, as well as investor relations and corporate communications.
“We are particularly pleased to have Matthew join Forge and know that his strong background in strategy and business development coupled with his experience in assisting growth companies will be invaluable to Forge as it looks to continue the development of its projects and reviewing and assessing other growth opportunities,” Forge Resources non-executive chairman Nicholas Curtis said.