Long-term Michael Kiernan business ally Allan Quadrio will join the board of Territory Resources Ltd as managing director, passing his role at Kiernan's Monarch Gold Mining Company Ltd to Matthew Gill.
Long-term Michael Kiernan business ally Allan Quadrio will join the board of Territory Resources Ltd as managing director, passing his role at Kiernan's Monarch Gold Mining Company Ltd to Matthew Gill.
Mr Quadrio had previously worked for Territory takeover target Consolidated Minerals Ltd, but resigned in June due to his links with Mr Kiernan.
The two men were part of the team that built ConsMin into a mid-tier diversified miner, and had previously been part of the failed recovery plan for gold miner Croesus Mining NL.
Territory is battling a consortium led by former BHP Billiton Ltd chief executive Brian Gilbertson to takeover ConsMin.
In a company announcement, Monarch said Mr Quadrio would remain on the company board as a non-executive director, with Mr Gill taking the managing director's role within the next three months.
Mr Gill, who was most recently the managing director of Tasmania's Beaconsfield Gold Mine, has also served as mining manager at Kambalda Nickel Mines with Western Mining Corporation.
The full text of a Territory announcement is pasted below
Australian resources group Territory Resources (ASX:TTY) has today announced the appointment of experienced mining operations manager Allan Quadrio to the position of Managing Director.
Mr Quadrio, who is currently Managing Director at Monarch Gold Mining Company, will formally step into the position within three months.
Territory Resources Chairman Michael Kiernan will continue in his Executive Chairman capacity until Mr Quadrio takes over the position.
Mr Kiernan said Mr Quadrio brings years of mining experience, and a proven record of growing resources businesses.
"Allan has a detailed understand of mining operations, and a proven track record of results. We have a strong working relationship as part of the team that built Consolidated Minerals and Monarch Gold in recent times," Mr Kiernan said.
"Allan's credentials have most recently been highlighted with Monarch, where he has helped to successfully take the company from explorer to producer in 12 months and within budget."
Mr Quadrio is an experienced and qualified metallurgist, having been Resident Manager at various mine operations within Western Australia including gold and nickel operations. Allan was previously Operations Director with Consolidated Minerals.
"Allan's experience, combined with the depth of the wider team at Territory, will help drive the business through an exciting period as we achieve the goal of being a carbon steel commodity supplier," Mr Kiernan said.
"Allan knows the steel feed mining business, and his experience with Consolidated Minerals means he has a clear understanding of the manganese and chromite operations which form part of Territory's carbon steel strategy."
Territory is expected to make its first shipment of Iron Ore from its Frances Creek project the September quarter, following commencement of production and first railing of ore last month. The Frances Creek Project is 1.5mtpa of high grade haematite iron ore and Territory expects to increase mine life and production rate through an aggressive drilling program.
The full text of a Monarch announcement is pasted below
Monarch Gold Mining Company (ASX / DIFX: MON) is pleased to announce the appointment of Matthew Gill, former manager at Beaconsfield Gold Mine in Tasmania, as Managing Director.
Current Monarch Managing Director Allan Quadrio will move to Territory Resources Limited (ASX: TTY), as Managing Director. Allan will remain on Monarch's Board as a non-executive Director.
The key appointment will take effect within the next three months and continues a momentous month for Monarch, which in the past week has poured its first gold at Davyhurst, acquired the new Riverina Gold Project, and announced an $11 million exploration program across its Goldfields projects.
Monarch Chairman Michael Kiernan said the appointment of Mr Gill was another major step forward for the company.
"He has more than 25 years of experience in mining operations, direct involvement in the management of gold mining projects in Australia and overseas, backed by hands-on expertise in both underground and open cut operations," he said.
"To move Monarch from explorer to producer on time and on budget has been an outstanding achievement by Allan and the team, and I would like to thank him for his commitment on behalf of all shareholders. I'm certain Allan will stay actively involved in Monarch's development towards a 500,000 ounce per annum producer by 2009," he said.
Mr Gill will bring to Monarch a first class mining background. In his most recent role as resident manager at Beaconsfield, he was instrumental in building the operation from feasibility stage through to production.
He also played a pivot role in leading the team throug
He also has first hand experience in the WA Goldfields as mining manager at Kambalda Nickel Mines with Western Mining Corporation, and international mine management experience with Renison Goldfields and Placer Pacific in Papua New Guinea.
Mr Kiernan said the growing momentum within the gold industry was evident at the recent Diggers and Dealers Conference.
"There was considerable interest in Monarch Gold as the latest entry to the ranks of gold producer, backed by the largest Australian controlled land position in the Kalgoorlie region," he said.
The positive outlook on demand and price was reiterated at Diggers and Dealers last week by Pierre Lassonde, Vice President Newmont Mining Corporation. Mr Lassonde tipped gold prices to reach US$750 per ounce before the end of the year, and to eclipse the US$1000 per ounce mark in the near future, fuelled by growing demand for the precious metal from China.
