Magnis Resources Limited (“Magnis” or the “Company”) (ASX:MNS) wishes to advise that the Company has appointed Mr Colin (Cobb) Johnstone as a Non-Executive Director and Mr Len Eldridge as Executive Director – Commercial. The new appointments are effective from today.
Cobb Johnstone (Non-Executive Director)
Mr Johnstone is a mining engineer with extensive experience building and operating mines in Africa, Australia, Asia and South America. He held the position of Chief Operating Officer for African copper miner Equinox Minerals until its acquisition by Barrick Gold in mid-2011, and Chief Operating Officer for China-focussed gold miner Sino Gold Mining until its acquisition by Eldorado in late 2009. Mr Johnstone’s distinguished career spans more than 30 years and he has served as General Manager of some of Australia’s largest mines including the Kalgoorlie Super Pit in Western Australia, Olympic Dam in South Australia and North parkes in New South Wales.
He is currently the Lead Non-Executive Director of Evolution Mining, Australia’s second largest gold mining company with a market capitalisation of A$3.1 billion.
Len Eldridge (Executive Director – Commercial)
Mr Eldridge is a mining finance professional with a diverse commercial skillset. Previous roles he has held include Head of Investor Relations at Equinox Minerals, Head of Business Development and Investor Relations at Mount Gibson Iron, Associate Director and Senior Mining Analyst at Macquarie Group and Senior Resources Analyst at leading Australian institutional fund manager, JCP Investment Partners. Mr Eldridge is currently a principal of Fivemark Partners, a strategic financial, business development and investor relations advisory business.
In the role of Executive Director – Commercial, Mr Eldridge will be involved in managing the commercial affairs of the company, including project financing, key contractual negotiations and capital markets.
Magnis Chairman Frank Poullas stated: ”Following the completion of the Bankable Feasibility Study for the Nachu graphite project, one of our key objectives has been to strengthen the Board of Directors with high-calibre individuals who have the necessary experience and drive to finance and develop the project.
”In appointing Cobb and Len, we are delighted to welcome two outstanding mining industry professionals to the Magnis team. Both appointments will make substantial contributions to the Company as we move into the next exciting phase for Magnis and the Nachu project.”
Frank Poullas - Chairman
Magnis Resources Limited
+61 (0)2 8397 9888