en.Wedoany.com Reported - Mt Malcolm Mines (ASX:M2M) has completed its recent financing and appointed two new non-executive directors following the resignation of co-founder and director Daniel Tuffin.
The company has received all funds from the financing, with securities issued according to the offer timetable. Tuffin has resigned effective immediately, having played a key role in the company's development since its inception.
Mt Malcolm has appointed Phil Coulson and David Evans as non-executive directors to fill the vacancies. Coulson brings over 25 years of experience in corporate advisory, capital markets, and corporate finance, having held senior positions at Montagu Stockbrokers and Patersons Securities, and most recently served as a non-executive director of Kairos Minerals (now Pilbara Gold, ASX:PGL), assisting in a successful management and corporate restructuring. Evans has over 30 years of experience in the mining industry, covering exploration, project development, and mining operations in Western Australia's goldfields, and is currently Managing Director of Gold Mountain (ASX:GMN).
Managing Director Trevor Dixon stated that the financing has strengthened the company's ability to advance key development projects. Dixon said the funds raised position the company favorably to continue progressing critical development initiatives, including advancing the proposed processing facility and ongoing exploration programs. He also expressed pleasure in welcoming Phil Coulson and David Evans to the board, noting that their expertise in corporate finance, capital markets, and mining operations aligns perfectly with the company's next phase of development.
Dixon thanked Tuffin for his contributions since the company's establishment and highlighted his role in numerous financing activities over the years. He noted that as Mt Malcolm advances its growth objectives, Coulson's expertise in corporate strategy and capital management will support financing plans, while Evans' hands-on operational knowledge will strengthen the board as the company progresses its development plans, including the proposed on-site processing facility.
Mt Malcolm Mines is a gold-focused exploration company advancing its namesake Malcolm Gold Project in Western Australia's Eastern Goldfields, where it plans to build a 500,000-tonne-per-annum processing plant.
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