10/01/2019 - 15:03

Longworth to lead Metalicity

10/01/2019 - 15:03

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Former Heron Resources boss Mathew Longworth will take the helm of mining hopeful Metalicity, as managing director Matt Gauci announced he will move on after more than six years in the role.

Matt Gauci will continue to be involved as a consultant.

Former Heron Resources boss Mathew Longworth will take the helm of mining hopeful Metalicity, as managing director Matt Gauci announced he will move on after more than six years in the role.

It comes as the company continues a plan to spin off its Admiral Bay zinc asset onto the Toronto Stock Exchange as Kimberley Mining.

Instead, the company will focus on copper and nickel exploration projects in the East Pilbara and Great Southern.

Mr Longworth has been a director of Metalicity since 2014, and will take over as chief executive from today.

Mr Gauci said it was the right time for him to move on, although he would continue to be involved as a consultant.

“The company is in a strong cash/equity position for a junior mining company with 100 per cent owned copper exploration projects in the Paterson Province and a controlling interest in zinc development company Kimberley Mining," he said.

“As a founding director and shareholder, I look forward to working with the team on the leadership succession plan.”

Chairman Andrew Daley said it would make sense the company was now led by an experienced geologist.

Mr Gauci leaves the company in a strong position having built Metalicity from a shell, through acquisition of Admiral Bay and recompliance on the ASX to an exploration and project development company over six years," he said.

“With the sale of Admiral Bay, and the acquisition and options on new copper and nickel exploration projects it is a logical point to look at succession planning and build on our exploration and technical management team.”

Shares in Metalicity were down 5.8 per cent at 1.6 cents each at the close.

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