Changes to Magnetic board

Magnetic Resources founding director George Sakalisis has resigned as managing director of the company, with current executive director Gavin Fletcher to take up the managing directorship.

Mr Fletcher joined Magnetic in 2013 as part of the investment group that subscribed for $1 million under a placement deal.

Mr Fletcher has previously held senior processing engineer and project management roles at Fortescue Metals Group, Northern Iron and UK-listed African Minerals.