18/02/2019 - 15:08

Hallam to lead Capricorn

18/02/2019 - 15:08

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Warren Hallam has been tapped as the new managing director of Capricorn Metals, as the company ramps-up the development of its flagship Karlawinda gold project.

Warren Hallam was the managing director of diversified miner Metals X for over 14 years.

Warren Hallam has been tapped as the new managing director of Capricorn Metals, as the company ramps-up the development of its flagship Karlawinda gold project.

Earlier this month Mr Hallam was appointed as the non-executive chairman of gold explorer Nelson Resources.

He will replace Heath Hellewell at Capricorn, who announced his resignation from the company in November.

Mr Hallam was the managing director of diversified miner Metals X since its foundation in 2004 until November 2018.

Prior to that he was the group manager of corporate planning at WMC Resources for three years, until 2003.

Mr Hallam holds a bachelor of metallurgy degree from Federation University Australia (formerly the Univeristy of Ballarat) and a master’s of mineral economics from Curtin University.

He will receive $450,000 per annum plus statutory superannuation entitlements, and will start in his new role tomorrow.

Mr Hellewell was the managing director of Capricorn since the company’s name changed from Malagasy Minerals in 2016.

Capricorn chair Debra Bakker said Mr Hallam had the requisite skills to lead the company through its next phase.

“His decision to join Capricorn is a compelling endorsement of the company and he will bring his extensive corporate, development and operating experience to the company,” she said.

Mr Hallam said he was very excited to lead the company.

In December, Capricorn secured a $107 million debt package with Macquarie Bank to fund the majority of the Karlawinda project, which is estimated to cost $133.3 million.

The project is located 60 kilometres south-east of Newman.

Capricorn shares were down 2.94 per cent, to close trade at 6.6 cents each.

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