THE BOURSE WHISPERER: Magmatic Resources (ASX: MAG) has appointed David Flanagan to the company’s Board as an independent non-executive director.
Magmatic Resources declared it is entering an exciting new phase at its four East Lachlan gold and porphyry copper-gold exploration projects, and that Flanagan’s vast experience in exploration and developing mines will greatly enhance the company’s capabilities.
“David Flanagan has a strong track record, from greenfields exploration, project development, strategic planning to marketing and has a broad range of global industry contacts,” Magmatic Resources managing director David Richardson said in the company’s announcement to the Australian Securities Exchange.
“We are delighted that he has agreed to join our Board and we look forward to his contribution in what is a very exciting period of the company’s evolution as we progress planning our drill programs at our East Lachlan projects.
“David’s assistance in progressing our projects will be invaluable.”
For his part, Flanagan said he was excited to be joining the Board of Magmatic at a point in time where it is on the cusp of unlocking the value of its dominant position in the East Lachlan.
“Alkane Resources Limited’s (ASX: ALK) recent Boda porphyry copper gold discovery has highlighted the significant potential for new Tier 1 copper and gold discoveries in this underexplored region,” Flanagan said.
“With recent discoveries in a region that hosts a number of world class mining operations, I am looking forward to working with the Board and management team in developing and executing a strategy that will assist the company to maximise the value of its projects.”