THE BOURSE WHISPERER: Doray Minerals (ASX: DRM) announced the resignation of the company’s managing director, Allan Kelly, citing personal reasons, after seven and a half years at the helm.
Kelly was founding managing director, kicking the company off in mid-2009, taking it through the pre-IPO stage to listing on the ASX in February 2010.
History records what followed soon after with the discovery, funding, permitting, construction, commissioning and operation of the high-grade Andy Well gold project.
Most recently, Kelly oversaw the takeover of Mutiny Gold and the subsequent funding, construction and commissioning of the high-grade Deflector gold project, which recently commenced production.
Under Kelly’s watch, Doray was recognised as the most successful IPO of 2010, in terms of share price increase, and was awarded the Gold Mining Journal ‘Explorer of the Year’ in 2011, the annual Craig Oliver Award’ presented at the RIU Explorers Conference in 2015 and Australian Mining Journal ‘Australian Mine of the Year’ in 2015 for Andy Well.
In 2014, Kelly was jointly awarded the Association of Mining and Exploration Companies (AMEC) ‘Prospector Award’, for the discovery of the high-grade Wilber Lode gold deposit, which makes up the nucleus of the Andy Well project.
Doray’s non-executive chairman, Peter Lester, said that, in just over seven years, Kelly had taken the company from a concept for a new greenfields mineral explorer with a portfolio of projects in Western Australia and South Australia to an ASX300 gold producer, which had funded and built two new high-grade gold operations within four years and now directly employed approximately 150 staff.
Doray Minerals non-executive director Leigh Junk will join the executive management team and will perform the duties of MD following a handover period with Kelly.
Junk is a Mining Engineer with almost 25 years’ experience and has been a non-executive director of Doray since May 2011 and is considered by the company to be well versed in the various components of its business.
He has previously held senior positions in several Western Australian mining companies and co-founded the private mining company Donegal Resources Pty Ltd, which was successful in purchasing and re-commissioning several Nickel operations around Kambalda.
Lester said the Doray Board recognised Kelly’s achievements over the last seven years and thanked him for his stewardship, dedication and passion in building Doray into a two mine gold producer.
“Allan built a company with a strong foundation for future growth and has left Doray in good hands,” Lester said in the company’s announcement to the Australian Securities Exchange.
“We wish him well and continued success in his future endeavours.”