Source: Kairos Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kairos Minerals (KAI) appoints Klaus Eckhof as Non-Executive Chairman, effective immediately, and Peter Turner as Managing Director, effective May 23
  • In conjunction with the appointment of Mr Eckhof and Dr Turner, Neil Hutchison has resigned as a director of the company
  • The company says the appointments reflect Kairos’ commitment to accelerating its exploration campaigns at its Western Australian lithium and gold projects
  • Dr Turner says he will work with Mr Eckhof to help Kairos use “smart exploration”
    unlock the value of its lithium and gold assets
  • KAI shares are up 3.85 per cent, trading at 2.7 cents

Kairos Minerals (KAI) has appointed Klaus Eckhof as Non-Executive Chairman, effective immediately, and Peter Turner as Managing Director, effective May 23.

In conjunction with the appointment of Mr Eckhof and Dr Turner, Neil Hutchison has resigned as a director of the company.

The company said the appointments reflect Kairos’ commitment to accelerating its exploration campaigns at its Western Australian lithium and gold projects as part of its wider strategy to generate increased shareholder value.

Dr Turner said he would help the company apply “smart exploration” to significantly grow the resource at Kairos’ Mt York project.

“We are equally excited by the lithium potential of Kairos’ Roe Hills project in what is a highly prospective place for finding fertile lithium-caesium-tantalum pegmatites,” Dr Turner said.

“We have a huge landholding with promising lithium-in-soil anomalies waiting to be drilled.”

Mr Eckhof is a geologist with more than 20 years of experience developing mineral deposits around the world, having founded Moto Goldmines and AVZ Minerals (AVZ), the latter of which has a current market cap of over $2.75 billion.

Dr Turner also has decades of experience in the industry, having spent over 25 years in the resources sector as an exploration and development geologist in Western Australia, Africa, the Middle East and South-East Asia.

Kairos said Dr Turner had an in-depth knowledge of worldwide gold deposits from his experience working in specialist technical teams in companies like Perseus Mining (PRU) and Placer Dome Asia Pacific. He has developed techniques for targeting new deposits and extensions to existing mineralisation which Kairos said would prove essential for the company.

His remuneration package includes a salary of $325,000 plus statutory superannuation and 25 million performance rights as an equity incentive.

The Non-Executive Chair remuneration agreement with Mr Eckhof includes, among other terms, 30 million options with an exercise price of 5 cents and an expiration date of May 1, 2026.

KAI shares were up 3.85 per cent, trading at 2.7 cents as of 11:11 am AEST.

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

" Payright (ASX:PYR) settles “transformational” funding package to pursue growth

Payright (ASX:PYR) completes its settlement of funding package, comprising a $125 million warehouse facility led by…
Titomic (ASX:TTT) - Managing Director, Herbert Koeck

" Titomic (ASX:TTT) on track to deliver world’s first mould coatings system

Additive manufacturing company Titomic (ASX:TTT) is on track to deliver the world's first automated cold spray…

" Apiam Animal Health (ASX:AHX) executes growth strategy with two acquisitions

Apiam Animal Health (ASX:AHX) has announced new acquisitions as part of its growth strategy to double…
Unibail Rodamco Westfield (ASX:URW) - CEO & Chairman, Jean-Marie Tritant

" Unibail-Rodamco-Westfield (ASX:URW) rebrands three flagship centres

Unibail-Rodamco-Westfield (ASX:URW) has rebranded three flagship centres in Madrid, Stockholm and Warsaw