- Adavale Resources (ADD) has made some changes to its board to support the development of the Kabanga North and Kabanga North East tenements
- These tenements a part of the world-class Kabanga Nickel Project which lies within a highly prospective nickel region of Tanzania
- Grant Pierce has been appointed Non-Executive Interim Chairman and brings 30 years’ of experience from across Australia and Africa
- Following the resignations of three directors, Rod Chittenden and Steven Georgiadis have both been appointed as Non-Executive Directors
- Additionally, experienced attorney for ASX-listed companies, Julian Rockett, has been appointed the company secretary and legal counsel
- Adavale’s shares have soared 55.6 per cent since the board changes were announced
- Shares closed trading for 2.7 cents each, up 50 per cent
Adavale Resources (ADD) has made some changes to its board to support the development of the Kabanga North and Kabanga North East tenements.
These tenements a part of the world-class Kabanga Nickel Project which lies within a highly prospective nickel region in Tanzania.
The project holds one of the world’s largest, undeveloped, high-grade nickel sulphide resources of 57 million tonnes at 2.62 per cent nickel.
Non-Executive Interim Chairman
Grant Pierce has been appointed as the Non-Executive Interim Chairman. He has 30 years’ experience in Australia and Africa, having managed open-pit and underground mines.
Grant was part of the development team that built the first modern mine in Tanzania, being Resolute Mining’s (RSG) Golden Pride Project. He was the Operations Manager for its first six years.
Mr Pierce has also held senior executive roles for Barrick Gold, Perseus Mining and most recently, he was the Executive Director of EcoGraf (EGR).
“I would like to thank the outgoing Directors Louis Clinton, Gary Stewart and Stephen Lowe for their efforts and for providing a smooth transition for the new board,” Grant said.
“Together with our team in Tanzania we look forward to commencing work on the ground and updating shareholders on our progress in due course,” he added.
Non-Executive Directors
Rod Chittenden has been appointed as a Non-Executive Director. He brings 40 years’ experience in the minerals industry across Africa, Australia and South America.
For more than 10 years, Rod worked in Africa on Magnis Energy Technologies’ (MNS) Nachu Graphite Project. He has also worked for Paladin Energy (PDN), Newcrest Mining (NCM) and Barrick Gold.
While, Steven Georgiadis has been appointed as a Non-Executive Director. Steven has over 20 years’ experience as an attorney, mainly focused on private equity transactions, corporate finance and corporate governance.
Company Secretary and Legal Counsel
Finally, Julian Rockett has been appointed as Adavale’s new secretary and in-house counsel. Julian has experience with corporate transactions and has held these types of roles with more than 15 ASX-listed companies.
Adavale’s shares have soared since the board changes were announced – jumping up 55.6 per cent – one of the best performers of the day.
At market close, shares were trading for 2.7 cents each, up 50 per cent.