Sunstone Metals Ltd (ASX:STM) has appointed highly regarded resources executive and former Xstrata Copper executive committee member Neal O’Connor to its board.
The appointment of O’Connor as a non-executive director follows the recent appointment of Patrick Duffy as managing director and the move of existing managing director Malcolm Norris to the role of executive director – exploration.
Aligning board with strategy
These changes are part of Sunstone’s ongoing strategy to align the skills and experience of its board with the company’s evolving requirements as it seeks to grow and develop its discoveries in Ecuador.
O’Connor is a highly experienced resources executive and director with previous roles including as an Executive Committee member of Xstrata Copper from 2003-2013.
As a lawyer, he has extensive experience in the development and operation of mines across South America as well as in mergers and acquisitions and brings to the Sunstone board an added focus on corporate transactions, corporate governance and risk management.
“Skills will be invaluable”
Chairman Graham Ascough said: “These changes are aimed at enabling Sunstone to maximise its exploration success, increase the value placed on its assets in the market and forge a strong growth strategy to unlock shareholder wealth.
“Neal’s extensive skills and experience in these key areas will be invaluable as we seek to grow our asset base and increase its valuation in the market.”
Xstrata experience
O’Connor was formerly general counsel and company secretary and an Executive Committee member of Xstrata Copper (2003-2013), the largest business unit of global mining company Xstrata Plc.
He is currently a non-executive director of Mitchell Services Limited and a director of Wesley Medical Research Institute Foundation. He was previously a non-executive director of Stanmore Coal Limited and a non-executive director of Maas Group Holdings Limited.
His prior legal roles include general manager legal at MIM Holdings Limited and in private practice with Pinsent & Co Solicitors, London (now Pinsent Masons LLP) and Mallesons Stephen Jacques, Brisbane (now King Wood Mallesons).
New-look board
With these appointments, effective April 16, 2024, the Sunstone Metals Board of Directors will be:
- Graham Ascough – non-executive chairman;
- Patrick Duffy – chief executive officer and managing director;
- Malcolm Norris – executive director – exploration;
- Stephen Stroud – non-executive director; and
- Neal O’Connor - non-executive director.