Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Dr Michael Anderson has resigned as Managing Director from Firefinch, effective immediately by mutual agreement
  • The Board appoints Andrew Taplin as acting CEO and Dr Alistair Cowden as Executive Chairman
  • This resignation follows a series of events, from announcing its trading halt on Monday and the resignation of Non-Executive Directors Liz Wall and Naomi Scott on Tuesday
  • The company requested for a trading halt pending an announcement to the operational performance and production guidance at its Morila Gold Project
  • Shares in Firefinch traded at 20 cents prior to the trading halt

Dr Michael Anderson has resigned as Managing Director from Firefinch (FFX), effective immediately by mutual agreement.

The Board has appointed Andrew Taplin as acting CEO and Dr Alistair Cowden as Executive Chairman.

This resignation follows a series of events, from Firefinch announcing a trading halt on Monday and the resignation of Non-Executive Directors Liz Wall and Naomi Scott on Tuesday.

Ms Wall and Ms Scott were recently appointed to the Board, the company disclosed in its previous statement.

It has not been said why Dr Anderson had resigned but Dr Cowden thanked him for his contribution to the company over the last 14 months.

The company had requested a trading halt pending an announcement regarding the operational performance and production guidance for its Morila gold project.

A three-year extension was granted by the Malian Government at Morila which Dr Anderson said validated the support of the company’s activities.

Dr Anderson will be paid $450,000 in contractual entitlements while Mr Taplin will receive an additional $10,000 per month as acting CEO.

Further, Mr Taplin’s remuneration package includes a $417,006 salary with a potential annual target short term incentive (STIs) of $125,102 due for measurement on June 30.

Shares in Firefinch traded at 20 cents prior to the trading halt.

FFX by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Security Matters (ASX:SMX) enters into $2m standby equity facility

Security Matters (ASX:SMX) has entered into a standby equity deed with Evolution Capital.
The Market Herald Video

" Ora Gold (ASX:OAU) obtains unsecured $500k loan facility

Ora Gold (ASX:OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general…
Baby Bunting (ASX:BBN) - Chair and Non Executive Director, Melanie Wilson

" Baby Bunting (ASX:BBN) surpasses $500m sales for the first time

Baby goods retailer Baby Bunting (ASX:BBN) surpasses half a billion dollars in sales for the first…