THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry.
Resignation of the non-executive chairman
Renaissance Minerals (ASX: RNS) announced the resignation of Rick Hart as non-executive chairman of the company due to other business commitments.
“Rick was a founding director of the company and, on behalf of the company, I would like to thank Rick for his contribution and commitment to the company over the past three years,” Renaissance Minerals managing director Justin Tremain said.
Renaissance said the current structure of the Board is suitable on an interim basis and it does not propose to make an immediate replacement to the Board.
A replacement will be sourced when it is financially prudent to do so.
In the interim Dave Kelly will act as the non-executive chairman.
Appointment of new managing director and non-executive directors
Further to Norton Gold Fields Limited (ASX: NGF) achieving an 84.85 per cent interest in the issued capital of Kalgoorlie Mining Company Limited (ASX: KMC) and declaring the takeover offer unconditional, KMC advise the ASX of the appointment of three NGF nominated directors to its Board.
Dr Dianmin Chen has been appointed managing director of the company while Dr Noel White and Ms Xuelin Cai join Peter Cordin as non‐executive directors.
Current managing director James Croser and Roger Kwok have elected to stand down from the Kalgoorlie Mining Company Board effective immediately.
Appointment of chief operating officer
Northern Star Resources (ASX: NST) has appointed Stuart Tonkin as chief operating officer.
Tonkin is a mining engineer with more than 19 years’ experience working for both contractors and mining companies.
Most recently he was COO for mining contractor Barminco. He has also held senior positions with Oxiana and Newmont.
Northern Star said Tonkin’s extensive experience as a mining contractor would ensure that the company retained its strong focus on efficiency and productivity.
“Northern Star has had a heavy emphasis on costs and productivity since the day it acquired the Paulsens gold mine,” Northern Star managing director Bill Beament said.
“But at the same time as reducing our costs, we have grown production, resources and mine life.”
“Stuart’s experience and approach means we will maintain this formula, which is the key to maximising Shareholder returns.”
Change of chairman
Queensland Mining Corporation (ASX: QMC) advised Dr Garry Lowder has resigned as chairman and non-executive director of the company for personal reasons.
In the meanwhile, the company announced Dr Lakshman Jayaweera as the new chairman of the Board.
Triple whammy company secretary appointment
Cazaly Resources Limited (ASX: CAZ), Dempsey Minerals (ASX: DMI), and Blackham Resources (ASX: BLK) all announced the appointment of Mike Robbins as their company secretary, following the resignation of Julie Hill from the positions.
Robbins has well over 20 years resource industry experience gathered at both operational and corporate levels, both within Australia and overseas.
He has held numerous project level management positions as well as CFO and company secretarial roles with Hodges Resources, Bannerman Resources, Moto Gold Mines, and Asian Mineral Resources.
ActivEX Limited (ASX: AIV) announced changes to the composition of its Board of directors.
Chairman Dick Keevers and non-executive director Ian Daymond have resigned from the Board.
Keevers has been a director and non-executive chairman of the company since May 2012.
Daymond was non-executive director of the company and the first chairman of the Board of directors from inception in 2005 through to 2012 and over the last year as a non-executive director.
ActivEX also announced the resignation of Alan Humphris as an alternate director (to Ms Min Yang), while welcoming Grant Thomas to the board as a non- executive director.
Thomas has worked for several companies, in particular spending 22 years with Rio Tinto/CRAE/Hammersley Iron and has extensive experience in a variety of metals and coal throughout the world, including Australia, Brazil, South Africa, central Asia, China and southeast Asia.
Chairman to retire
Bauxite Resources (ASX: BAU) chairman Barry Carbon announced he intends to retire from all positions with the company effective 9 August 2013.
Following Carbon’s retirement, Robert Nash will become chairman on an interim basis until further notice.
Windward Resources (ASX: WIN) announced the acquisition of a portfolio of exploration assets from the Creasy Group referred to as the Fraser Range projects, which will result in the Creasy Group emerging with an approximate 30 per cent interest in Windward.
Stephen Lowe, Windward’s current chairman and business manager for the Creasy Group has offered to step-down as chairman of Windward, effective immediately to manage any potential conflicts of interest and ensure good corporate governance.
Lowe will remain as a non-executive director of Windward.
It is Windward’s intention to appoint an externally sourced independent chairman as soon as possible and the Board is currently interviewing a number of candidates for this role.
In the interim, non-executive director George Cameron-Dow will immediately assume the position of interim chairman for the period to completion of the proposed acquisition.