Executive Chair Extends Contract for a Further Three Years
The Board considers this a most vital appointment as Mr Jerkovic has been instrumental in leading the turnaround in the performance of the Company since he became full time Executive Chair and assumed responsibility for the day-to-day management of the Company. The Board considers his leadership over the next three years as essential to the Company's ongoing success.
Also one of the Company's largest shareholders, Mr Jerkovic originally undertook the role of Executive Chair in 2018 and responsibility for the day to day management of the company in May 2019. Since late last year the Board has been in discussions with Mr Jerkovic about extending his term as Executive Chair and are very pleased to have successfully negotiated an extension. The remuneration terms agreed with Mr Jerkovic are set out in schedule 1*.
Mr Jerkovic's experience and leadership, as well as his commitment and success in building large mining companies, will help guide the Company through its five-point strategic plan to create maximum shareholder value. The five-point plan is to;
1. Strengthen the balance sheet;
2. Increase operational cashflow;
3. Transition to include gold concentrate production;
4. Expand production; and
5. Undertake exploration and feasibility studies to fully develop a more than 200kozpa, long life gold operation.
Mr Jerkovic commented: "I am delighted to commit to Blackham for another three years. We have managed to start turning the Company around in the last 10 months but there is a lot of work still to be done to build a successful mining company. I am genuinely excited by the opportunity to lead the Company through this journey.
We have put together a fine team at Blackham in the last six months, and we are all excited about the prospectivity of the Wiluna geology, with its four mining centres, existing production, high calibre people and culture, infrastructure and potential for scale. Going forward we want to create a large and successful mining company by using the Wiluna Mining Operations as the key building block."
Blackham Resources Limited (soon to be renamed Wiluna Mining Corporation Ltd; ASX code WMX), owns 100% of the Wiluna Mining Operation which comprises four mining centres, significant infrastructure and is currently producing approximately 66kozpa of gold. The Company's current Mineral Resource is 6.4Moz and its reserves are 1.4Moz.
*To view Schedule 1, please visit:
About Wiluna Mining Corporation Ltd
Wiluna Mining Corporation (ASX:WMX) (OTCMKTS:WMXCF) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 6.4 Moz at a grade of 2.1 g/t Au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.
Wiluna Mining Corporation Ltd