Mt Malcolm Mines (ASX:M2M) has completed its recent capital raising and appointed two new non-executive directors following the resignation of founding director Daniel Tuffin.
The company received all funds from the raising, with securities issued in accordance with the offer timetable. Tuffin resigned effective immediately, having played a key role in the company’s growth since its inception.
Mt Malcolm appointed Phil Coulson and David Evans as non-executive directors to fill the vacancies.
Coulson brings more than 25 years of experience in corporate advisory, capital markets, and corporate finance. He held senior positions with Montagu Stockbrokers and Patersons Securities, and, most recently, served as a non-executive director of Kairos Minerals — now Pilbara Gold (ASX:PGL) — where he assisted in a successful management and corporate restructuring.
Evans has more than 30 years of experience in the mining industry, with exposure to exploration, project development, and mining operations across the Western Australian Goldfields. He is currently Managing Director of Gold Mountain (ASX:GMN).
Managing Director Trevor Dixon says the capital raising strengthens the company’s ability to advance key development initiatives.
“The funds raised place the company in a strong position to continue advancing key development initiatives, including progression of the proposed processing facility and ongoing exploration programs,” Dixon says.
“We are delighted to welcome Phil Coulson and David Evans to the Board. Phil’s corporate finance and capital markets expertise, together with David’s extensive mining and operational experience, are well aligned with the Company’s next phase of development as we progress towards production.”
Dixon thanked Tuffin for his contribution since the company’s inception and noted his role in capital raising activities over many years. He says Coulson’s corporate strategy and capital management expertise will support funding initiatives as Mt Malcolm advances its growth objectives.
Evans’ practical operational knowledge will strengthen the board as the company progresses its development plans, including the proposed on-site processing facility.
Mt Malcolm Mines is a gold-focused explorer advancing its namesake Malcolm Gold Project in Western Australia’s Eastern Goldfields, where it is also building a 500,000-tonne-per-annum processing plant.
Write to JC Villarba at Mining.com.au
Images: Mt Malcolm Mines
