- Long-time Executive Chairman Milan Jerkovic resigns from his role at Wiluna Mining (WMC) effective immediately, in a series of management changes at the company
- The company appoints Rowan Johnstone as interim Non-Executive Chairman and Michael Monaghan as acting CEO
- They will be supported by Robert Ryan as interim Chief Operating Officer with a dedicated team on site led by Jon Pluckhahn
- This change in management comes after a “successful and well supported” capital raising, signalling a “renewed focus” under the new team to reset and take advantage of the gold resource reported at the Wiluna operations
- Shares in Wiluna are up 2.17 per cent, trading at 23.5 cents as of 3:55 pm AEST
Long-time Executive Chairman Milan Jerkovic has resigned from his role at Wiluna Mining (WMC) effective immediately, in a series of management changes at the company.
Mr Jerkovic’s resignation was upon mutual agreement though the company did not disclose the reasons for his exit.
The company has appointed Rowan Johnstone as interim Non-Executive Chairman and Michael Monaghan as acting CEO.
They will be supported by Robert Ryan as interim Chief Operating Officer with a dedicated team on site led by Jon Pluckhahn.
This change in management comes after a “successful and well supported” capital raising, signalling a “renewed focus” under the new team to reset and take advantage of the gold resource reported at the Wiluna operations.
The company had launched a $84.5 million capital raise in May. The minimum capital raise was set at $50 million.
However, Wiluna fell short of its intended raise by approximately $3 million.
Mr Johnston said the new additions are well-respected and experienced in underground mining engineering which reflected the new focus.
“With the new flotation plant producing saleable concentrate and operating at a higher than name-plate capacity and improved specifications, the question of metallurgy has been answered.
“With most of the upfront capital expenditure on the WilTails project already spent and its commissioning currently being targeted for October 2022, we will have a further revenue stream coming online.
“Now we will focus on finalising a realistic, executable mine plan over the coming months that will provide a return to our shareholders, whilst also ensuring a focus on cost management.”
Mr Monaghan is a mining engineer with over 30 years of management experience in both underground and open pit operations across a number of commodities.
He will be remunerated $2000 per day consulting fee while as acting CEO.
Shares in Wiluna were up 2.17 per cent, trading at 23.5 cents as of 3:55 pm AEST.