- Flinders Mines (FMS) has appointed Dr Andrew Whitehead as the new General Manager
- The appointment comes after a review, due to the successful vote for the BBI Group (BBIG) entering into the Pilbara Iron Ore Project in Western Australia
- The current CEO David McAdam will resign from his role next week
- On market close, Flinders share price is up 20 per cent and is selling shares for 2.4 cents each
Flinders Mines (FMS) has appointed Dr Andrew Whitehead as the new General Manager, as the company steps into the next phase at the Pilbara Iron Ore Project.
The appointment comes after a review of the management requirements for the company, following the successful vote for the BBI Group (BBIG) transaction.
This transaction is a farm-in incorporated joint venture between the companies in relation to the iron ore project in Western Australia. It was approved by shareholders in March this year.
Andrew will take on the General Manager role starting from today (June, 17), as CEO David McAdam will depart days later on June 23.
Andrew brings more than 20 years’ experience to the role and he recently managed Stable Resources, a private junior mining company with assets in Africa.
The 12-month contract, subject to annual review, will see him work two days per week, with his service contract fee listed at $3000 per week.
Flinders’ Non-executive Chairman Neil Warburton is pleased with the appointment.
“We believe his suite of skills and diversity of experience will be invaluable as we progress the joint venture with BBIG towards a final investment decision,” he said.
Neil has also thanked departing CEO David McAdams for his services.
“David was instrumental in the successful negotiation of the joint venture transaction with BBIG, which paves the way for significant value creation for all Flinders shareholders,” he said.
On market close, Flinders share price is up 20 per cent and is selling shares for 2.4 cents each.