Gold Road - Board and Executive Changes

Gold Road - Board and Executive Changes

Gold Road Resources (ASX:GOR) has announced the appointment of Tim Netscher as independent Non-Executive Chairman, Ian Murray as MD/CEO, expanded responsibilities for Executive Director Justin Osborne and the elevation of Sim Lau to Project Director - Gruyere Gold Project. All positions will be effective from 1 July 2016.


Highlights

  • Highly respected company director Tim Netscher appointed independent Non‐ Executive Chairman
  • Incumbent Chairman Ian Murray to become Chief Executive Officer and Managing Director
  • Responsibilities of Executive Director Justin Osborne broadened to include exploration, business development, investor relations and technical services
  • Development Manager Sim Lau appointed to newly created position of Project Director – Gruyere Gold Project
  • Appointment of General Manager – Finance, Tim Manners

Gold Road Resources Limited (Gold Road or the Company) is pleased to advise that effective 1 July 2016, Tim Netscher will assume the role of independent Non‐Executive Chairman of the Company.

Mr Netscher, with more than 40 years’ experience in the resources sector, has held senior executive roles with Gindalbie Metals, Newmont Mining, Vale Australia, PT Inco, BHP Billiton and Impala Platinum. He has been an independent Non‐Executive Director of Gold Road since September 2014, and holds non‐executive positions on the boards of listed mining companies St Barbara Mines, Western Areas and Toro Energy.

Once Mr Netscher’s appointment becomes effective, incumbent Executive Chairman Ian Murray will become Chief Executive Officer and Managing Director. Mr Murray will focus on leading Gold Road and the management team, as he has done so successfully since 2008, through the next phase for the Company as it progresses development of the Gruyere Gold Project, approximately 200 kilometres east of Laverton in Western Australia, through to production, targeted for 2018.

Speaking about his appointment as Chairman, Mr Netscher said: “I am delighted to take up this role with Gold Road, and to guide the Board through the development phase of the Company’s first mine, while ensuring the appropriate focus is maintained on our exciting regional exploration programs across the Yamarna Belt.

“The changes at board level reflect Gold Road’s transition from explorer to mine developer and will continue to ensure appropriate focus on the key value drivers for the business, being the Gruyere Gold Project development and regional exploration. Along with the previously announced appointment of experienced company director Sharon Warburton to the Board and as Chairperson of the Audit and Risk Committee, it also completes our alignment with ASX recommendations on best practice for corporate governance.”

With Gold Road’s focus on both regional exploration of the Yamarna Belt and development of the Gruyere Gold Project, the management team has also been restructured and expanded to provide more focused attention on each of these important value drivers.

Exploration and Growth

Justin Osborne’s responsibilities as Executive Director have broadened to include exploration, business development, investor relations and technical services under the title of Executive Director – Exploration and Growth. This will ensure focus is maintained, during the Gruyere development phase, on growth through regional exploration and opportunities outside of Gruyere.

To assist Mr Osborne in this role, Clayton Davy’s has been appointed Exploration Manager (from his acting role) and John Donaldson (Principal Resource Geologist) has been appointed Geology Manager.

Gruyere Gold Project

Sim Lau, currently Development Manager, has been appointed to the newly created position of Project Director ‐ Gruyere Gold Project. Mr Lau will continue to oversee the Gruyere Feasibility Study and subsequently, construction of the Project assuming positive results from the Study, Board approval and financing.

Mr Lau will be assisted in his role by Robin Marshall who has been Chairman of the Gruyere Project Steering Committee since February 2016. Mr Marshall has over 40 years’ experience in developing resources project for companies such as Western Mining Corporation, North Limited, BHP Billiton and Vale Inco. The Gruyere Project Steering Committee is comprised of Mr Marshall, Mr Netscher and Mr Osborne.

In addition, Wayne Foote continues to provide mining and operational input to Mr Lau and the Feasibility Study through his role as General Manager ‐ Operations.

Finance Department

Gold Road has recently appointed Tim Manners as General Manager – Finance, to head up Gold Road’s finance department. Mr Manners has over 20 years’ experience within the mining industry including project finance, and has held senior accounting and finance roles with Western Areas, Perilya, Bathurst Resources and Phoenix Gold. Mr Manners initial focus will be on completing the project finance for the Gruyere Gold Project and will work closely with the Project Team and Gold Road’s advisors.

To view the full announcement click here. 

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