Further to Medusa's announcement of 2 new exec directors yesterday:
Chief Operating Officer.
Rob Gregory was appointed in September as a consultant to review operations of the Co-O mine and report to the Board this month. This report on operational issues and improved efficiencies at Co-O will be reviewed by the Board and after that the main recommendations advised to shareholders.
Rob Gregory is an Australian Mining Engineer with extensive mine development and operational experience in Australia, Indonesia, Philippines and China, both in open pit and underground mines. He has held managerial positions in junior and major mining companies.
His experience includes:
Responsible for the construction of the Tanjianshan Gold Project in Western China.
Vice President Mine Development for Climax Mining’s Didipio gold/copper project (now OceanaGold) on Luzon, the Philippines 1996-2000.
CEO of Rusina 2005-2010 when taken over by European Nickel (ENK). Nickel mine development at Acoje, Luzon, the Philippines.
MD of European Nickel 2010-2012 when taken over by DMCI Holdings and D&A Income. Operations in Turkey and the Philippines.
It can be seen he has plenty of recent experience in the Philippines and wider relevent experience.
With this announcement of Rob Gregory's executive appointment as Chief Operating Officer it seems even more likely he will take over as Medusa CEO when Geoff Davis is expected to return to retirement next year. By then he will have detailed knowledge of the Philippines operations and first hand experience of the mine and mill setup on Mindanao and the development project at Bananghilig.
Manager - Geology and Resources
Gary Powell, currently a Non-executive Director of Medusa will step down from the Board on 30 November 2014 and take up the full time position of Manager - Geology and Resources in the Company in December 2014.
Mr Powell who has over 17 years of experience in the Philippines managing exploration programmes from grass roots through to resource delineation and feasibility studies, will oversee all activities relating to resources, exploration and geology within the Company.
Gary Powell was appointed Non-executive Director on 24 January 2013 and brings Philippines operating experience to the Board. Mr Powell is a geologist with over 30 years of experience working in West Australia, Central Asia and importantly, since 1997, in the Philippines.
Mr Powell has worked for major and junior companies as an employee and on a consulting basis.
He was a founding and Managing Director of ASX listed Egerton Gold NL from 1993 to 2000, and more recently a founding, Non-Executive and then Executive Director from 2004 to 2009 of Metals Exploration plc listed on the Alternative Investment Market in the United Kingdom.
In his role with Metals Exploration plc, Mr Powell managed the progressing of the Runruno Deposit, Luzon, the Philippines to the drilled up resource stage (and which is now moving towards construction).
Work to date has defined a resource of 1.42 million ounces of gold, and 25.6 million pounds of molybdenum. The deposit is located within a large alkaline volcanic complex, approximately 3.5 kilometres in diameter.
Mr Powell has been overseeing the resource drilling at the Company’s Bananghilig Project.
MML Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
