31/03/2017 - 14:47

Parsons to lead Draig

31/03/2017 - 14:47

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Draig Resources has a new management team that includes former Gryphon Minerals managing director Stephen Parsons, who will focus on the company's recently acquired Bellevue gold project west of Laverton.

Parsons to lead Draig
Draig was exploring for coal on the east coast before returning to Perth with a focus on gold.

Draig Resources has a new management team that includes former Gryphon Minerals managing director Stephen Parsons, who will focus on the company's recently acquired Bellevue gold project west of Laverton.

Draig, which recently shifted its office back to Perth after leaving for NSW in 2012 to focus on coal exploration, announced Mr Parsons would take on the role of executive director, while Alex Passmore (a former director at Patersons Securities) has stepped down as chief executive.

Warren Staude has also stepped down as non-executive director.

Draig now has a registered office on Hay Street in Subiaco.

Mr Parsons has brought in his own technical team, which together with sophisticated investors and an unnamed institutional investor have subscribed for a combined 16.6 million shares at 3 cents each to raise $500,000.

In his new role, Mr Parsons will receive an annual salary of $150,000 including superannuation, plus incentives.

In December, Draig completed its acquisition of Golden Spur Resources, owner of the Bellevue project.

The new Draig management team’s primary focus will be progress work on the gold project.

Draig shares were 5.5 per cent higher to 3.8 cents each at the close.

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