South Harz Potash (ASX:SHP) - Former Managing Director, Dr Chris Gilchrist
Former Managing Director, Dr Chris Gilchrist
Source: South Harz Potash
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  • South Harz Potash’s (SHP) Managing Director and CEO, Chris Gilchrist, departs immediately from the company
  • While SHP gave no reason for Mr Gilchrist’s sudden departure, the company thanked him for his service over the past four years
  • As a global search for South Harz’s next CEO gets underway, Ian Farmer steps up from a chairman position to the role of Acting Executive Chairman
  • Meanwhile, SHP completes a second drill hole within its Ohmgebirge mining licence of the Germany-based South Harz Potash Project, with assays expected in June
  • South Harz Potash last traded at 14.5 cents on May 19

South Harz Potash’s (SHP) Managing Director and CEO, Chris Gilchrist, has left the company, effective immediately.

The company gave no reason for Mr Gilchrist’s departure in its announcement to the ASX, but SHP thanked him for his service over the past four years.

While a global search process for South Harz’s next CEO is underway, Ian Farmer has stepped up from a Chairman position to the role of Acting Executive Chairman.

Ian Farmer is a highly experienced mining executive, with several senior financial and management positions to his name. He will be paid a monthly fee of $19,250 for his new role, along with $6,250 per month for director fees.

Once a new CEO has been found, the company anticipates Mr Farmer will step back from executive duties and resume the role of non-executive chairman.

Alongside this process, the company said it planned to establish its key operational management and personnel hub in Germany. This will place the core operational team in the South Harz region.

South Harz Potash said despite the executive shuffle, its current project activities remain on schedule.

SHP has completed a second drill hole within its Ohmgebirge mining licence of the Germany-based South Harz Potash Project, with assays expected in June. The company said it hoped to upgrade a substantial portion of the project’s current inferred mineral resource to the higher-confidence ‘indicated’ category through the drilling work.

This is then expected to lead to the release of a comprehensive scoping study for Ohmgebirge, which is expected to be completed early in the third quarter of 2022.

South Harz Potash last traded at 14.5 cents on May 19.

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