Western Australian miner Atlantic has announced a significant board restructuring, in the wake of the exit of chairman Ian McMaster last week.
Atlantic managing director Michael Minosora has been appointed as executive chairman, a day after it was announced he would tip in $10 million to a capital raising to cover cash shortfalls caused by delays at the company’s Windimurra project in the Mid West.
Retiring chairman Mr McMaster had been with the company for the past two years.
Also, non-executive directors Alan Mulgrew and Jay Wacher both announced their resignations today.
“As Atlantic transitions to a vanadium producer, the company will seek to strengthen its board of directors by adding new independent non-executive directors, in line with corporate governance guidelines, who have mining and metals processing experience,” Atlantic said in a statement.