McMaster, Wood join Strzelecki Metals

Shares in Strzelecki Metals have soared after it announced prominent Western Australian businessmen Brian McMaster and Matthew Wood would head up a new board of directors.

Adelaide-based Strzelecki announced today Mr McMaster would take the helm as executive chairman, while Mr Wood was named executive director.

Incumbent chairman Peter Hunt will remain on the board as an independent director, as will John Santich, while Simon O'Loughlin and Stephen Evans have stepped down.

Mr Wood has previously served as chairman of market darling Hunnu Coal prior to its acquisition by Singapore's Banpu Group in January, while Mr McMaster formerly was a partner at insolvency firm Korda Mentha.

Strzelecki also announced today an $810,000 share placement to clients of Garrison Capital, to fund potential acquisition opportunities.

By close of trade today, Strzelecki stocks had shot up by 56 per cent, finishing at 2.5 cents.