Millennium Minerals has appointed Warren Hallam as managing director, marking Mr Hallam’s return as the leader of a junior miner since his short-lived stint at Capricorn Metals ended abruptly in March.
Millennium Minerals has appointed Warren Hallam as managing director, marking Mr Hallam’s return as the leader of a junior miner since his short-lived stint at Capricorn Metals ended abruptly in March.
He will succeed Peter Cash, who is stepping down from the top job following a four-and-half year tenure.
Mr Hallam was the managing director of Metals X from 2005 to November 2018, and was on a base salary of $530,000 at the time of his departure.
Mr Hallam was tapped as the new managing director of Capricorn Metals in mid-February, but resigned less than a month later after two shareholders of the gold junior successfully ousted three of its directors.
Mr Hallam is currently the non-executive chair of Nelson Resources, and previously served on the board of Westgold Resources and Aziana.
At Millennium, Mr Hallam will receive a base salary of $450,000 per annum plus superannuation.
He will also be issued 4.5 million of performance rights, which will be subject to his continued employment and an overarching performance condition of Millennium’s operations remaining fatality free.
Mr Hallam holds a master of science (mineral economics) qualification from the WA School of Mines, and a bachelor of applied science degree (metallurgy) from Ballarat University.
Millennium chairman Greg Bittar said the board was delighted to have secured someone of Mr Hallam’s calibre and experience to lead the company through its next phase of development.
“Warren is a highly accomplished and well-regarded mining executive who is well-known for his many achievements during a distinguished career at Metals X and, earlier in his career, at Western Mining Corporation,” he said.
“His extensive technical knowledge, hands-on operating experience and financial and commercial acumen will be invaluable as we work to complete the various expansion projects currently under way at Nullagine.“
Millennium’s flagship asset is the troubled Nullagine gold project, which is located approximately 185 kilometres north of Newman.
In May, annual production guidance for this calendar year from the mine was revised from between 90,000 and 100,000 ounces, to 80,000 and 90,000oz.
Millennium said this was due to a tightening market for labour and equipment supplies in the WA mining sector.
Shares in Millennium were up 1.6 per cent to 13 cents each at 11.50am AEST.
