Board reshuffle at Chalice

Chalice Gold Mines founder and executive chairman Timothy Goyder has taken the role of managing director in a series of board changes that include Bill Bent stepping down from the position today.

Mr Goyder will take on day-to-day responsibility of the company as it plans to move ahead with the development of its recently acquired Cameron Gold Camp project in Ontario, Canada.

“Chalice is today in a fantastic position in the junior resource sector with over $44 million in cash at bank, a great gold asset in the Cameron Gold Camp in Canada and tremendous prospects to move forward and create substantial value for our shareholders,” Mr Goyder said.

Mr Goyder, who is Wesfarmers managing director Richard Goyder's brother, is also a director of Uranium Equities and Liontown Resources.

His salary package as Chalice is valued at $390,000 per annum.

In a statement, the board of Chalice exressed its thanks to Mr Bent for his contribution to the company during the past 18 months, during which he led the review of numerous acquisition opportunities and the acquisition of the Cameron Gold Camp and Rainy River gold projects from Coventry Resources.

As part of the restructure, Chalice director Anthony Kiernan has replaced Mr Goyder as the company’s chairman.

Mr Kiernan is also the chairman of BC Iron, Venturex Resources and the Fiona Wood Foundation, and is a director of South Boulder Mines.

Also a part of the board shake-up, current Chalice executive director Doug Jones has stepped down from his role.

Mr Jones was also a former managing director of the company.

As a result of the changes, performance rights which were to be granted to Mr Bent and Mr Jones will now not be put to shareholders.

According to a statement Chalice released on September 30, there were about 3.9 million performance rights to be granted to the company’s directors.

Meanwhile, experienced mining executive Gary Snow has been appointed as Chalice’s chief operating officer, and will oversee the evaluation and development of the company’s projects.

Mr Snow was an executive general manger for Intrepid Mines, and before that, a global exploration manager for iton ore at BHP Billiton.

Chalice’s share price remained unchanged at 11.5 cents per share at 10:50am.