New directors, CEO at Beadell

Gold miner Beadell Resources has come under new leadership, with the company appointing former Red Back Mining executive Simon Jackson as managing director and chief executive.

Mr Jackson has brought together a new team to lead Beadell, which is focused on the Tucano mine in Brazil.

The team includes former Kinross Gold Corp president Brant Hinze, who will be a non-executive director, and former Kinross head of exploration Glen Masterman, who will be executive director geology and corporate development.

Mr Jackson’s former company, Red Back Mining, was acquired by Kinross in 2010 in a deal that valued Red Back at $C9 billion.

Chairman Craig Readhead will be the only continuing director.

Beadell’s outgoing managing director Peter Bowler said the company was now tracking upwards with an outstanding growth story.

The recovery in the company’s prospects in recent months follows a difficult two-year period, during which Beadell’s share price collapsed from around 90 cents in mid 2013 to a low around 10.5 cents in September.

The stock jumped 10 per cent today to 16 cents.

Mr Jackson, who will be paid an annual salary of $602,250, said the enhanced management team would immediately commence a full project review of Tucano aimed at continuous operational improvements.

Mr Jackson said there was also good exploration upside.