THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry.
Board and Management changes
Blackthorn Resources (ASX: BTR) has received notice from company chairman Bill Cash of his intention to retire at the company’s AGM, scheduled for 28 November 2013.
Current non-executive director Mike Oppenheimer will become chairman effective at that time.
Blackthorn will also say farewell to managing director Scott Lowe, who has advised of his intention to leave the company before the end of 2013 to pursue the next stage of his career.
Appointment of Director
Straits Resources (ASX: SRQ) has appointed Michele Muscillo as a non-executive director.
Muscillo is a non-executive director of ASX-Listed Orbis Gold (ASX: OBS) and is also that company’s chairman of the Audit and Risk Management Committee.
“I am very pleased to welcome Michele to the Board,” Straits Resources managing director Andre Labuschagne said.
“His skills and expertise in corporate transactions, governance and compliance will be a valuable addition to the Board as the turnaround of the company progresses.”
Galaxy Board changes
Lithium producer Galaxy Resources (ASX: GXY) announced that following cost review initiatives, the following directors have decided not to stand for re-election at the company’s Annual General Meeting.
Dr Yuewen Zheng: non-executive director, Shaoqing Wu: non-executive director, Michael Spratt: independent director, Charles Whitfield: executive director
The Galaxy Board is to consist of the following members:
Craig Readhead: non-executive chairman, Iggy Tan: managing director, KC Kwan: independent director, Bob Wanless: independent director, Xiaojian Ren: non-executive director, Anthony Tse: executive director.
Appointment of Non-Executive Director
Fox Resources (ASX: FXR) has appointed a new non-executive director, James Alexander Cooper.
Fox described Cooper a a Queensland-based businessman who has taken leadership roles in the coal and agricultural industries and has been an active participant in the resources sector for many years.
He is also a consultant to various entities controlled by Sam Chong, including Magnetic South Pty Ltd, which is a partner in the Mount Oscar Joint Venture with Fox Resources.
Appointment of Interim President and CEO and new Director
Coventry Resources (ASX: CYY) announced the appointment of Steven Chadwick as Interim President and CEO effective immediately, replacing Mike Naylor who has resigned for medical reasons.
Since January 2013 Chadwick has been Coventry’s vice president of operations.
The company has appointed a sub-committee comprising its non-executive directors to oversee the selection of a permanent appointee.
Nick Day, the present (Australian) company secretary has been appointed to the Board as a replacement director for Mike Naylor.
Appointment of Director
Nevada Iron (ASX: NVI) has appointed Taj Singh to the Board as an independent director.
Singh resides in Toronto and currently serves as the vice-president of business development for Timmins Gold Corp, a mid-tier Toronto Stock Exchange-listed company with an operating gold mine in Mexico.
Nevada Iron said Singh is well known in the North American capital markets and will bring additional capability in raising the profile of the company as it progresses to a North American listing.
Red Gum Resources (ASX: RGX) has advised Ray Shaw has been appointed executive chairman following the resignation of Dr Paul Pearson as managing director.
Red Gum also intends to appoint Michael Easdon as an in-country manager, based in Santiago Chile.
Easdon is a certified geologist with the American Institute of Professional Geologists with over 40 years’ industry experience, including more than 15 years based in Latin America.
Appointment and Resignation of Directors
Kangaroo Resources (ASX: KRL) has made three appointments to its board of directors in Ian Ogilvie, Graham Anderson, and Leonard Math effective from 1 May 2013.
They bring a wealth of knowledge and will provide the Company with an invaluable network that will be of great benefit to KRL’s future.
Kangaroo also announced Michael Loh and Amy Pascoe will be appointed as replacement company secretaries.
Kangaroo also advised that Mark O’Keefe, Peter Richards and Darcy Wentworth have each given notice of their intention to resign as a director effective from 1 May 2013.