Matador Mining Ltd (ASX:MZZ) has appointed experienced mining executive Ian Murray as executive chairman of the board of directors.
Murray is a chartered accountant, a member of the Australian Institute of Company Directors and holds an executive degree in Advanced Management and Leadership from the University of Oxford, Saïd Business School.
With an accumulated 25 years’ of industry experience under his belt, Murray has held leadership positions at Gold Road Resources Ltd (ASX:GOR), DRDGold Ltd (NYSE:DRD) as well as with the international ‘Big Four’ accounting firms.
Gold Road experience
Matador believes he brings a wealth of financial, corporate, project development and operational experience to the board.
Murray served at Gold Road for more than 10 years and was instrumental in taking the company from early exploration through to the fully funded Gruyere Gold Project, which is forecast to produce around 300,000 ounces per year for more than 10 years in joint venture with Gold Fields Limited (NYSE:GFI).
During his time at Gold Road, Murray was pivotal in the selection and appointment of key personnel to drive progress through each stage of exploration and development.
Shares are 10% higher in early trade at 22 cents.
Board restructure
Murray is the first appointment of what is anticipated to be a restructure of the Matador board.
Executive director Adam Kiley has stepped down, however, remains in a senior management position and in the coming months, Grant Davey and Keith Bowes are expected to also step down as suitable independent directors are appointed.
“Excited by opportunity”
Murray said: “I am delighted to be joining Matador as chairman and am excited by the opportunity that lies ahead with the Cape Ray Project.
“There are numerous aspects which attracted me to the company as there are several key similarities between the Cape Ray Project and the Yamarna Belt, which hosts the Gruyere gold deposit.
“Most notably both companies have secured sizeable holdings along highly prospective, yet underexplored gold regions in first-world jurisdictions.
Focus to "build on” scoping study results
He continued: “The recently released results of the scoping study confirmed that Cape Ray has a solid starting platform for future gold production, however, I am very encouraged with the potential to significantly expand this mineral endowment.
“The company’s primary focus will be to build on this platform, with systematic testing of the 80 kilometres of continuous strike along the Cape Ray Shear.”