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Bardoc Gold makes key finance appointment in transition to development and production

Published: 12:44 18 Feb 2021 AEDT

Bardoc Gold Ltd - Bardoc Gold makes key finance appointment in transition to development
A definitive feasibility study for the Bardoc Gold Project is on track for delivery this quarter.

Bardoc Gold Ltd (ASX:BDC) (FRA:4SF) has strengthened its senior leadership team with the appointment of highly-experienced former Newmont and Barrick mining executive Oliver Mortensen as chief financial officer (CFO) effective from March 8, 2021.

This latest senior appointment comes as Bardoc makes the transition to development and operations at its flagship 100%-owned 3.03-million-ounce Bardoc Gold Project, around 40 kilometres north of Kalgoorlie in Western Australia.

Mortensen has vast experience in the Australian gold industry and is an important addition to the Bardoc team with the definitive feasibility study (DFS) on the project now in its final stages.

Following Mortensen’s appointment, Bardoc’s current CFO and company secretary Russell Hardwick will continue as company secretary.

“Right people in right positions”

Bardoc Gold’s chief executive officer Robert Ryan said he was delighted to have attracted someone with such an extensive range of corporate, financial, commercial and strategic skills in the global mining industry fill this key finance role in the company’s leadership team.

He said: “Oli Mortensen is an accomplished senior executive in the gold sector and I am delighted to have the opportunity to work alongside him once again – having done so previously at Barrick.

“This marks another important step in our growth and development as a company, ensuring we have the right people in the right positions to oversee our next growth steps as we embark on project financing, construction and development.”

DFS on track

The DFS is on track for delivery this quarter, paving the way for a final investment decision (FID) on a new long-term gold mining and processing operation at the Bardoc Project.

Ryan said: “I have every confidence that Oli will be an invaluable addition to the team as we progress discussions with banks and financiers, complete the DFS and secure an appropriate funding package to take the Bardoc Project into production.

“Oli’s appointment as CFO comes as we expand the management team to add in additional capabilities to assist in overseeing the financing, development, construction and successful operation of the Bardoc Gold Project.”

Finance experience

Mortensen is a chartered accountant with 15 years of experience across public practice, private and public companies.

He has extensive finance leadership experience in public practice and within the mining industry and has been working in the mining industry since 2010, holding various finance leadership roles for Thiess in the Bowen Basin, Barrick in the Goldfields, BGC Contracting and seven years with Newmont.

During his time at Newmont, Mortensen led finance functions at the world-class Boddington Gold Mine, business readiness functions at Merian Gold Mine in Suriname as the mine was commissioned and led business planning for the North American portfolio of operations in Nevada.

Mortensen holds Bachelor of Commerce and Bachelor of Physical Education degrees.

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