IMX gets new name, new CEO

IMX Resources chief executive Phil Hoskins has been replaced by former Focus Minerals boss Campbell Baird, while the company plans to restructure and rebrand itself under a new name.

IMX, which recently spin-off its Tanzanian graphite assets into a separate ASX-listed company Graphex Mining (which debuted yesterday), said Mr Baird would replace Mr Hoskins from today.

The company also plans to change its name to ‘Indiana Resources’ and undertake a consolidation of its capital.

“We are pleased to be entering a new era for the company and we are pleased to have an experienced, technically driven mining executive of Mr Campbell’s calibre and experience to lead the new company Indiana Resources,” IMX chairman Derek Fisher said.

“Following the spin-out of our graphite resources we have taken the opportunity to relaunch, rebadge and restructure IMX as Indiana, and the appointment of Mr Campbell is integral to this process."

“With his depth of experience in gold and base metals exploration and development, Mr Campbell is an ideal fit as we direct our efforts towards gold exploration and in particular our exciting Kishugu and Naujombo gold targets in Tanzania.”

Along with Mr Hoskins, executive director Nicholas Corlis will also step down from the IMX board, leaving Mr Fisher, Bruce McFadzean as non-executive director, and Mr Baird.

Mr Corlis will remain with the company as technical manager.

Mr Baird will receive a cash remuneration of $150,000 per annum, plus superannuation.

He was chief executive of Focus, a Perth-based gold company, for four years until 2013, when the company announced a $27 million half-year net loss.

IMX shares were unchanged at 0.2 cents each at the close.