Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Alderan Resources (ASX:AL8) has appointed Scott Caithness as its new Managing Director, effective from April 6, 2021
  • The new MD will receive an annual salary of $150,000, based on part-time employment due to existing travel restrictions as a result of COVID-19
  • The appointment also comes with 10 million unquoted options, five with an exercise of 11 cents and five at an exercise price of $0.15, expiring within three years
  • Scott Caithness comes with more than 35 years’ experience in mineral exploration in senior management, executive committee and board levels across Australia, Asia, Africa and the Pacific
  • Scott Caithness succeeds Peter Williams, who will remain on the board as a Non-Executive Director
  • The company is up 6.76 per cent, trading at 7.9 cents per share

Alderan Resources (ASX:AL8) has appointed Scott Caithness as Managing Director, as of April 6, 2021.

The new managing director will receive an annual salary of $150,000, based on part-time employment, due to existing travel restrictions as a result of COVID-19.

He will also be issued with 10 million unquoted options, five with an exercise of $0.11 and five at an exercise price of 15 cents, both expiring within three years.

Scott Caithness comes to the role with more than 35 years’ experience in mineral exploration in senior management, executive committee and board levels across Australia, Asia, Africa and the Pacific.

He has previously held roles in some of the world’s largest resources companies, including Rio Tinto, global diversified miner Vedanta Resources and its subsidiary Hindustan Zinc.

The company says Caithness’ appointment will complement the highly experienced and multi-disciplinary executive and exploration teams.

“Scott has a wealth of experience in exploration in a range of settings and across a variety of commodities and we are excited to appoint a candidate with his depth of knowledge to head up our company as we progress exploration on our projects in Utah, USA,” said Chairman Tom Eadie.

 “His career to date has shown his ability to successfully lead exploration teams and he’s also developed a range of skills across strategy and management, communications and government relations which will help us drive development of our copper-gold portfolio.”

 Scott will succeed Peter Williams as Alderan’s Managing Director.

“I would also like to thank Peter Williams who has led the Company to the point where we now have an enviable portfolio of gold and copper/gold projects in Utah and a joint venture with Kennecott on the Frisco property. Peter’s particular world class expertise in geophysics and general exploration will still be available to Alderan in his role as a Non-Executive Director,” added Eadie.

Peter Williams will remain on the board as a Non-Executive Director.

The company is up 6.76 per cent, trading at 7.9 cents at 2:00 pm AEDT.

AL8 by the numbers
More From The Market Herald

" Rafaella Resources (ASX:RFR) plans to use green energy at Santa Comba in Spain

Rafaella Resources (RFR) has signed a memorandum of understanding (MOU) with Spanish renewable energy developer Capital Energy Read after it adopted an Environmental,

" Golden Mile Resources (ASX:G88) commences RC drilling at Yarrambee

Golden Mile Resources (G88) has commenced a series of reverse circulation (RC) drilling at its Yarrambee copper, zinc and nickel project in Western

" Jupiter Mines (ASX:JMS) loses another leader

Jupiter Mines (JMS) Director Hans Mende has stepped down from his role, the latest in a string of resignations for the mining company.

" First Graphene (ASX:FGR) achieves milestone on supercapacitor materials

First Graphene (FGR) has achieved a critical milestone on its program to develop high performing supercapacitor materials.