Australian resources exploration and development company Group 6 Metals (ASX:G6M) has appointed mining industry veteran Michael Zannes as Chief Financial Officer (CFO).
Zannes has more than 20 years’ experience in the mining industry, which he has gathered from managing operational and corporate finance functions in Australia and internationally. This includes C-suite experience in areas of financial reporting and analysis, tax, treasury, systems design and implementation, purchasing, and logistics and business improvement.
The company reports Zannes is a certified public accountant who has held the role of CFO with Andromeda Metals (ASX:ADN), as well as other commercial roles with international mining organisation New Gold Inc (NYSE:NGD) including Company Director and Secretary for its Australian divisions.
Other roles held by Zannes include General Manager of Australian operations for Peak Gold Mines in Cobar, New South Wales, and Divisional Commercial Manager for Whitehaven Coal (ASX:WHC), in which he established the commercial and financial functions for its open-cut operations, which included greenfield development sites.
The company also notes the appointment of Zannes comes following the extension of a share purchase plan (SPP) which was undertaken to afford eligible Group 6 Metals shareholders an additional opportunity to participate on the same terms as the placement, and to fund ongoing construction and operating activities at the Dolphin Tungsten Mine, as announced by Group 6 Metals in January 2023.
Under this SPP, eligible company shareholders who reside in Australia or New Zealand had the opportunity to apply for up to $30,000 of additional shares per eligible shareholder without incurring brokerage or transaction costs, with all proceeds being applied towards capital expenditure ($10 million) and pre-production costs ($6 million) at Dolphin.
With the creation of this sole CFO role, Group 6 Metals reports Megan McPherson will continue with the company as Company Secretary, and will now focus on the area of corporate governance and shareholder relations as the company nears production of its wholly owned Dolphin Tungsten Mine in Tasmania.
Commenting on the appointment of Zannes, Group 6 Metals Chief Executive Officer (CEO) and Managing Director Keith McKnight says: “We are delighted to attract an executive of Michael’s calibre to join Group 6 Metals. He brings a strong record of achievement in leading finance and operations teams which we are excited to see him apply towards his new role as Group 6 Metals’ CFO.
“He brings a strong record of achievement in leading finance and operations teams which we are excited to see him apply towards his new role as Group 6 Metals’ CFO”
This appointment is especially timely with the company now entering a critical growth phase as it works towards completion of construction and the commencement of production at the Dolphin Tungsten Mine.”
Group 6 Metals is an ASX-listed resources exploration and development company focused on the redevelopment of its 100% owned Dolphin Tungsten Mine located on King Island in Tasmania. The project is host to the highest-grade tungsten deposit of significant size in the western world and has been previously operated between 1917 and 1992 before being closed due to extremely low tungsten prices.
Images: Group 6 Metals Ltd
