Walkabout Resources (ASX:WKT) recently delivered a Definitive Feasibility Study (DFS) for a proposed open pit mine and graphite processing plant at its Lindi Jumbo Graphite Project in south eastern Tanzania.
The company said to expedite the dual roles of in-country project development and international corporate fund-raising required to develop the project under a fast-track methodology, two key changes will be made.
These are:
- Allan Mulligan, an experienced and qualified mining engineer, whilst remaining an executive director, will now solely focus on project development within Africa and will voluntarily stand down as managing director; and
- Trevor Benson, an investment banker, will move from non-executive to executive chairman with a focus on corporate activities, including product marketing with primary responsibility for securing funding for project development and working capital.
Mulligan commented:
"Development of the Lindi Jumbo Project is an imperative for the company right now and in order to adequately fast track the project, the dual areas of project development and fund-raising must occur in parallel.
"We are excited about the opportunities that are emerging in the premium graphite market and Walkabout is well positioned to take advantage with these board changes."