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Silver City Minerals appoints two new non-executive directors

The appointments are part of a review of project areas and a reassessment of avenues to pursue the creation of value.

Empty boardroom seats and table
The Broken Hill-focused explorer is restructuring its board and management

Silver City Minerals Ltd (ASX:SCI) has appointed two new non-executive directors to its board as part of a strategic review of project areas and a reassessment of the best avenue to pursue value creation.

Darren Wates and Tom Pickett have been appointed to the roles following the resignations of directors Bob Besley and Chris Torrey, which came into effect on February 28, 2019.

READ: Silver City Minerals restructuring board and management as it focuses on Copper Blow

Wates is a corporate lawyer with more than 20 years’ experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance.

This has been gained through private practice and in-house roles in Western Australia.

Experience in exploration management

Pickett has experience in a range of sectors including mining exploration, law, tourism and hotels, having held executive appointments in these areas for ASX-listed and private companies.

He is the executive chairman of Cannindah Resources Ltd (ASX:CAE) and has held numerous board positions on other ASX-listed companies over the past 15 years.

His experience in the management of exploration activity across a number of projects in North Queensland for both gold and copper is a valuable asset.

READ: Silver City Minerals changing line-up at IOCG-focused Broken Hill company

Besley and Torrey served Silver City for many years with the former most recently as chairman and the latter as managing director.

In a statement, the company said: “Silver City wishes to thank Mr Torrey and Mr Besley for their long-standing service to the company and wish all the best to them in their future endeavours.”

READ: Silver City Minerals substantial shareholder lifts stake

The resignations of non-executive director Gregory Jones and company secretary Ivo Polovineo have also been received and accepted by the company, which has thanked them for their “significant contributions”.

New company secretary

Sonu Cheema has been appointed as company secretary.

He has more than 10 years’ experience working with public and private companies in Australia and internationally.

Cheema is currently company secretary for Corizon Resources Limited (ASX:CZR), Comet Resources Limited (ASX:CRL), Yojee Ltd (ASX:YOJ), Technology Metals Australia Ltd (ASX:TMT), Reffind Lt (ASX:RFN), Avira Resources Ltd (ASX:AVW), WarpForge Limited and Lone Star Energy Limited.

Quick facts: Silver City Minerals Ltd

Price: 0.008 AUD

ASX:SCI
Market: ASX
Market Cap: $2.75 m
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Silver City Minerals expanding surveys to generate new IOCG drilling targets

Chris Torrey, managing director of Silver City Minerals Ltd (ASX:SCI), updates Proactive Investors on the explorer's efforts to find the source of high grade mineralisation at the Copper Blow Project, located 20 kilometres south of Broken Hill in New South Wales, Australia. The company...

on 20/11/18

3 min read