Mungana Goldmines shares closed 20 per cent higher today on news former Mutiny Gold managing director Tony James would be the company’s new boss.
Mr James was, until recently, managing director of Mutiny where he led the implementation of a revised development strategy for the Deflector copper-gold deposit in Western Australia.
That led to a merger with Doray Minerals by way of an off-market takeover.
“Tony has an outstanding track record which has seen him play an instrumental role in the growth and success of a number of junior and mid-tier miners, culminating recently in a brief but highly successful stint as managing director of Mutiny until its takeover by Doray,” Mr Fitzgerald said.
Meanwhile, the company also announced the appointment of former Alacer Gold Corp executive vice-president Chris Newman as its new geology manager.
“These appointments complete the board and management renewal process at Mungana, which began last year following our $15 million acquisition of the Chillagoe base metal assets from the liquidators of Kagara,” Mr Fitzgerald said.
“This portfolio includes what we believe to be one of the best undeveloped high-grade zinc projects in Australia.”
Mungana shares closed 20 per cent higher at 12 cents per share.