Kin appoints new CEO

Aspiring gold miner KIN Mining has appointed former Syndicated Metals managing director Andrew Munckton as its new chief executive, after former leader Don Harper quit in February.

Mr Munckton had been with Syndicated since 2012, and has previously worked as managing director for Avalon Minerals.

The appointment comes after Mr Harper resigned in February following a planned move by former directors Terry Grammer and Fritz Fitton to remove David Sproule as technical director.

Kin chairman Jeremy Kirkwood said Mr Munckton was suited to the role.

“Andrew’s extensive experience in leading executive teams, operating successful gold mines, project management, gold exploration and corporate strategy give the board complete confidence that he is the right person to be the CEO of Kin Mining,” he said.

“We look forward to Andrew quickly taking the leadership role in the Kin management team and being a central part of initially completing the review process announced by Kin on 11 April, driving Kin’s exploration program and realising its development ambitions for the Leonora gold project.”

Shares in the company nearly halved in value recently after Kin announced it would be reviewing its $35 million Leonora project following expected increases in pre-production capital costs.

Mr Munckton said he was excited to take on the challenge of helping to steer Kin through the current review of the development of the project.

“I am extremely confident that the project and extensive tenement package holds significant value,” he said.

Mr Munckton will be paid an annual salary of $325,000 with the ability to earn a cash bonus of 50 per cent and performance securities up to 30 per cent of his annual wage.

Shares in Kin were flat at 17.5 cents each at 330pm AEDT.

Long-serving director David Morgan will replace Mr Munckton at Syndicated.