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- Suvo Strategic Minerals (SUV) shuffles its board and executive following a $7.5 million capital raise
- As part of the transition, Henk Ludik and Oliver Barnes have been appointed as non-executive directors, with Mr Ludik acting as the interim non-executive chairman
- Marty Helean has been appointed chief operating officer and will continue to oversee the expansion of Suvo’s Pittong kaolin plant while the company completes its search for a chief executive officer
- Robert Martin has resigned as executive chairman of the company
- SUV shares down 6.25 per cent lower to 7.5 cents
Suvo Strategic Minerals (SUV) has ushered in a new board and executive following a $7.5 million capital raise.
As part of the transition, Henk Ludik and Oliver Barnes have been appointed as Non-Executive Directors, with Mr Ludik acting as the company’s interim Non-Executive Chairman.
Marty Helean has been appointed Chief Operating Officer and will continue to oversee the expansion of Suvo’s Pittong hydrous kaolin plant in Victoria while the company undertakes a search for a chief executive officer.
Robert Martin has resigned as Suvo’s Executive Chairman.
The company said it was well funded to complete the Pittong expansion and as such Mr Martin said he believed it was an opportune time to step down as the company enters a new phase of growth.
Suvo has begun the process to recruit a new CEO.
The Pittong operations are located 40 kilometres west of Ballarat.
The company said Pittong was the only wet kaolin mine and processing plant in Australia and has been in operation for about half a century.
About 20,000-25,000 tonnes per annum of Pittong’s kaolin products are supplied to various end users.
SUV shares were trading 6.25 per cent lower at 7.5 cents at 12:23 pm AEDT.
