THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry.
Chief Executive Officer Succession
Kingsgate Consolidated (ASX: KCN) has advised that managing director and chief executive officer Gavin Thomas, will be stepping down from that role, effective June 2014, after nearly ten years in the position, after some recent health issues.
The company has commenced a succession process for the position of CEO.
To maintain a level of corporate continuity, Thomas will remain on the Board of Kingsgate as an executive director, to assist the transition to the new leadership.
“Gavin’s contribution to Kingsgate and the wider industry has been extraordinary, in both dedication and discovery,” Kingsgate chairman Ross Smyth-Kirk said.
“Gavin’s legacy to the mining industry goes well beyond his time at Kingsgate, with more than 40 years’ operating throughout the world.
“Under Gavin’s leadership, Kingsgate has evolved from a single operation in Thailand into a geographically diversified asset base that is well placed to enable the Company to grow into the future.”
YTC Resources (ASX: YTC) has made some changes to the company’s board of directors.
Dr Wenxiang Gao and Robin Chambers have resigned as directors of the company.
Both have been directors since 2007 and Dr Gao was chairman for more than three years in this time.
Following his nomination by Yunnan Tin Australia TDK Resources YTC has appointed Dr Guoqing Zhang as a director of the company.
Dr Zhang is chief executive officer of Yunnan Tin Australia TDK Resources, the registered holder of 9.35 per cent of YTC’s issued shares and chairman of Hong Kong-listed China Yunnan Tin Minerals Group Company Limited.
A subsidiary of CYTMG is the registered holder of 3.71 per cent of YTC’s issued shares.
John Hancock appointed to Volta Mining Board
Volta Mining (ASX: VTM) has appointed John Hancock to its board.
“The Volta Mining team are delighted to welcome Mr Hancock to the board of Volta Mining, given John’s lifetime of exposure to the Australian iron ore mining industry, and his considerable experience and skills in financial markets are invaluable,” Volta Mining managing director David Sumich said.
“John’s appointment will provide strong leadership and direction to Volta Mining in the iron ore space, as well as access to a wide investor base in both Australia and Asia, better enabling us to advance our projects to create real value for our shareholders.”
“Exploration companies and the junior sector are vital to the future of Australia’s resource industry,” Hancock responded.
“As my grandfather said, ‘Minerals are not like crops of wheat or wool that grow every year. You have got to find more each year if Australia’s living standards are to continue.’
“Volta Mining holds interesting ground in the heart of the Pilbara, next door to a Hancock Prospecting tenement and less than 10 kilometres from the Hope Downs iron ore project.
“It is also contiguous to ground held by Fortescue Metals Group and BHP Billiton.
“I look forward to increasing my role with the company as it develops.”
Helix Resources (ASX: HLX) announced Gordon Dunbar has informed the Helix Board he wishes to step down as chairman and will retire from the Board to spend more time pursuing his personal interests.
Dunbar has been a non-executive director of Helix since 2006 and the non-executive chairman since July 2013.
As a consequence of the impending retirement of Dunbar, the company announced the following appointments:
Pasquale (Paddy) Rombola who is a current non-executive director will assume the role of non-executive chairman.
Jason Macdonald will join the Helix Board as a non-executive director.
In addition, the company will in due course seek to appoint a non-executive director with an appropriate technical background to complement the experience and skill-sets of the Helix Board and Management.