- Havilah Resources has asked key officers and staff to leave as it wants to re-structure the company
- The CEO and Business Manager have been made redundant
- Another four staff have been asked to leave and a further two will leave by the end of October
Havilah Resources has asked key officers and staff to leave as it seeks to re-structure the company.
The company has put its CEO, Walter Richards, and joint Company Secretary and Business Manager, Claire Redman, on redundancies.
Walter has been part of the Havilah team for nearly six years and has been the CEO for the past two years. He previously worked with Newmont Mining for nearly 10 years.
Claire has been involved in the company for the past two years. She has previously worked has a humans resources manager at Ellex.
Havilah has also said another four staff have been asked to leave and a further two will leave by the end of October.
“The Directors express their sincere appreciation to Mr Richards, Ms Redman and all the departing staff for their dedication and professional service during the term of their employment with Havilah and wish them well in their future careers,” the company said.
Havilah Resources was listed on the Australian Stock Exchange in 2002 and is sponsored by its two founding shareholders, geologists Bob Johnson and Chris Giles.
Since then, the funds by shareholders have been used to carry out successful exploration drilling programs in the northeast of South Australia.
The drilling programs have generated the company’s current 1.3 million tonnes of copper, 3.2 million ounces of gold, 31,600 tonnes of cobalt and 450 million tonnes of iron ore in JORC resources.
Chris, one of the original founding shareholders, still retains all of his original shares and has supported the company in its entitlement issues over the years.
Recently the company’s shareholders did not approve of the $100 million proposed transaction from Onesteel Manufacturing.
Havilah Resources remains steady on the ASX today and is currently selling shares 12 cents apiece.