Elvis has left the building No.5
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:
Completion of A$12 million Share Placement results in new non-executive director
Western Desert Resources has appointed Scott Perrin as a non-executive director.
The appointment is part of a share placement transaction of 40,000,000 Western Desert ordinary shares; equal to 19.33% of Western Desert’s issued share capital, to Permat Holdings, an entity controlled by Perrin and Bruce Mathieson.
Norton Gold Fields restructures its board
Norton Gold Fields announced the resignation of company Chairman, Mark Wheatley effective 20 July 2011.
Non-executive director Mark McCauley, who had previously advised he would step down on 31 August 2011, has brought forward his resignation with immediate effect.
“In the past year, the Board has successfully led Norton through a number of corporate challenges,” Norton Goldfields managing director Andre Labuschagne said in the company’s ASX announcement.
“With a number of the difficult corporate decisions successfully behind us, the company’s core focus is to maximise the value from its existing asset portfolio and to positively and innovatively drive performance of the flagship Paddington operations.
“It is therefore an opportune time to restructure the board to oversee this next stage in the company’s development.”
Resignation of CEO Northern Energy Corporation
Keith Barker tended his resignation from the position of chief executive officer of the company.
Mr Barker has been Northern Energy the CEO since its listing on the ASX some six years ago.
Non-executives come…non-executive goes.
Mongolian-focused coking coal explorer Aspire Mining announced the appointments of Andrew Edwards and Mark Read as non- executive directors, effective 1 July, 2011.
Edwards is a recently retired senior partner with PricewaterhouseCoopers after a career spanning 35 years in Perth, Auckland and Sydney.
He served as managing partner of the Perth practice for five years and led the Perth advisory business.
He currently serves as a non-executive director of Mermaid Marine Australia, Nido Petroleum and is non-executive chairman of MACA. He is also a past director of Calibre Global.
Read is the immediate past CEO and managing director of ASX listed coal engineering and technology company Sedgman.
At Sedgman, Read was responsible for an overseas expansion strategy that led Sedgman to position itself in emerging high-grade coal regions including Mongolia and Mozambique.
Prior to his appointment as chief of Sedgman, Mr Read was general manager of Mining and Metals and executive director of engineering services firm Sinclair Knight Merz, where he was employed for 20 years.
Aspire also announces the resignation from its board of Russell Lynton-Brown as a non-executive director, a position he has held since 2006.
Lynton-Brown was involved in Aspire’s acquisition of the company’s flagship Ovoot coking coal project.
Aspire chairman David McSweeney said the change in the composition of the board was a natural evolution for the company.