ASX-listed gold company Gascoyne Resources (ASX:GCY) has appointed John Hodder as a Non-Executive Director to the board.
The company says Hodder has been appointed to fill a casual vacancy following the recent approval by shareholders to convert Tranche A of the company’s Tembo Capital debt facility to equity. As a result, Tembo Capital is now Gascoyne’s largest shareholder, holding about 18.6% of the shares currently on issue.
Gascoyne reports Mr Hodder has built up over 30 years of experience in the mining, funds management, and private equity sectors, most recently with Tembo Capital.
Mr Hodder is also noted to bring a wealth of listed company experience to Gascyone, having served as a Non-Executive Director on a number of private and ASX-listed company boards.
The company notes Hodder is currently serving as a Non-Executive Director of Strandline Resources (ASX:STA) and Genmin (ASX:GEN).
Meanwhile, this announcement follows the return of ‘exceptional’ thick and ‘high-grade’ results from a new phase of drilling at the Never Never prospect within Gascoyne’s Dalgaranga Gold Project, as announced by the company earlier this month (2 May 2023).
Results returned gold grades up to 23.7g/t Au, as well as further gold mineralisation hosted within wide mineralised zones on the perimeter and well below the current resource.
With Mr Hodder set to join the Gascoyne board, it is expected that he will stand for re-election at the company’s next Annual General Meeting.
Speaking on the appointment of Mr Hodder, Gascoyne Resources Non-Executive Chairman Rowan Johnston says: “We welcome John to the Board of Gascoyne and appreciate the demonstrable show of support in the company’s strategy by Tembo Capital through their significant investment made during the recent multi-faceted $50 million funding package.
“We welcome John to the Board of Gascoyne and appreciate the demonstrable show of support in the company’s strategy by Tembo Capital…”
John’s broad mining industry experience expands the technical capacity of the board as we embark on delivering our ‘365 strategy’ centred on the high-grade Never Never gold deposit at Dalgaranga.”
Gascoyne Resources is an ASX-listed gold exploration company with a portfolio of wholly owned assets in the tier-one mining jurisdiction of Western Australia. The company’s flagship asset is the Dalgaranga Project,475km northeast of Perth and about 65km northwest of Mt Magnet in WA.
The project produced over 70,000oz of gold in the 2022 financial year before being placed on maintenance and care in November in order to implement an operational reset designed to preserve the value of its ‘extensive’ infrastructure and resource base while developing a new, sustainable operating plan.
Images: Gascoyne Resources Ltd
