Bass to depart as Eagle Mountain CEO

Tim Mason will replace Charlie Bass as the chief executive of Eagle Mountain Mining in January, amid the copper-gold explorer’s share price nearly halving in the space of just over a year.

In a statement, the US-focused Eagle Mountain said Mr Mason would take over the chief executive role on January 15, but Mr Bass would remain as managing director for an “appropriate period” to ensure a smooth transition, particularly in regards to its activities in Arizona.

Eagle Mountain’s flagship project is the Silver Mountain copper-gold project near Phoenix in Arizona.

Mr Mason has worked at Panoramic Resources since 2008, commencing in an engineering role, and since September 2018 has been the general manager of projects and innovation.

Prior to this, he worked as a mining engineer for four years with Newmont Mining.

He holds a bachelor of engineering honours (geotechnical) from the Royal Melbourne Institute of Technology, a masters of business administration from Murdoch University, and is a graduate member of the Australian Institute of Company Directors.

Mr Mason will receive a base salary $300,000 per annum, 1.5 million options and 150,000 performance rights.

Eagle Mountain chairman Rick Crabb said Mr Mason had proven management experience and underground mining history.

“I welcome Tim to our close-knit team and look forward to working with him as we expand Eagle Mountain’s activities in Arizona,” he said.

“On behalf of the board and shareholders, I sincerely thank Charlie Bass for his hard work and leadership as CEO during the start-up phase of Eagle Mountain.

“Charlie will continue to play a significant role with the company including strategic assistance to Tim.”

Mr Bass said Mr Mason had a unique combination of skills.

“I am excited that someone of his calibre is joining Eagle Mountain,” he said.

Mr Bass and his family own around 40 per cent of Eagle Mountain via Silver Mountain Mining Nominee Pty Ltd.

Eagle Mountain closed its first day of trade on the ASX in March 2018 at 34 cents, and reached a peak of 41 cents last September.

However, its shares currently hover around the low 20 cents range.

Shares in Eagle Mountain were flat to trade at 21 cents each at 3.30pm AEST.