Mincor founder to pass torch

Mincor Resources founder and managing director David Moore has announced plans to step down from his role from early next year, but will remain with the company as deputy chairman.

In February, Mincor chief operating officer Peter Muccilli will be appointed as the company’s new chief executive, while Mr Moore, who founded Mincor 16 years ago, will begin his new role in March.

“David has committed himself to Mincor, our operations and our shareholders for more than one and a half decades and we must now respect his wish to stand down from day to day management duties,” Mincor chairman David Humann said.

“We are very pleased that David will remain actively involved with the company as deputy chairman, providing his invaluable experience and guidance on an ongoing basis and of course playing a key role in mentoring Peter when he takes over as CEO early next year.”

Mr Muccilli was appointed COO of Mincor earlier this year after 11 years in previous roles at the company, including as chief mine geologist and later exploration manager for nickel.

He previously worked for Samantha Gold, Resolute Mining and Western Metals.

Mr Moore will receive $90,000 per annum in director’s fees when he takes on his new role.

Mr Muccilli’s salary was not disclosed.

Mincor shares lost 1.2 per cent to 24.7 cents each at 10:30am.