Majestic Resources NL has been almost entirely restructured in the past nine months to achieve profitability. The company has a new board, new management and has deflected its focus on alluvial diamond operations to concentrate on kimberlite projects, believing the future lies with long-term, consistent orebodies.
Majestic is now chaired by Dr Denis Worrall, the former South African Ambassador to both Australia and the United Kingdom. Dr Worrall, a lawyer by profession, heads a highly successful investment company in South Africa.
The new vice chairman is Mr Greg Hancock, a Perth-based investment advisor who heads his own business, Hancock Corporate.
The managing director is Mr Charles Mostert, who for 18 years worked for the world’s biggest gold company, AngloGold, rising to the position of Manager Commercial Services. He is assisted by Paul Mazak as a non-executive director, who brings to Majestic a background in the diamond industry and project sourcing and John Baillie, Chief Financial Officer.
The Majestic board had one purpose in mind when restructuring the company and targeting kimberlite projects - that being to achieve profitable results for all shareholders, many of whom have shown their loyalty to Majestic over a long period.
Majestic is poised for a lucrative future. For further information, Charles Mostert, the managing director, is available on 61 08 9368 6096.
