Bardoc Gold Ltd (ASX:BDC) has thanked outgoing chief executive officer Robert Ryan for his considerable contribution to advancing the Bardoc Gold Project near Kalgoorlie in Western Australia.
As part of an ongoing strategic review of the 3.07-million-ounce and 1-million-ounce reserve project, the CEO has advised that he will leave the company by mutual agreement with the Board of Directors.
Ryan joined Bardoc in March 2019 and has led the company through the completion of a pre-feasibility study, feasibility study and cash-flow optimisation study.
He has also overseen the permitting process, pre-development activities and, together with other members of the team, engaged extensively with project financiers to advance the project to bankable status.
“Greatly appreciated”
Bardoc executive director Neil Biddle said: “Rob is a high-calibre individual who has done a fantastic job in advancing the Bardoc Gold Project to this point.
"His hard work, dedication and resolve cannot be doubted, and the huge effort he has put in on behalf of Bardoc shareholders over the past two years is greatly appreciated by everyone in the company."
Strategic review
Late last month the Bardoc board initiated a strategic review in light of the rapidly escalating cost environment, tightening labour market and other COVID-19 challenges facing new resource projects.
These factors have resulted in a decision to defer a Final Investment Decision and pursue other pathways to unlock the considerable value of the Bardoc Gold Project.
This review is being overseen by founding director Neil Biddle, who is acting in the capacity of executive director on an interim basis.
Considering options
The strategic review is likely to include consideration of strategic M&A and consolidation opportunities, as well as other pathways to monetise the Bardoc gold deposit in the near term.
Biddle said it became apparent that Rob’s core skills of building and operating projects did not fit with the company’s current direction.
“We are pleased to have reached agreement with him to part company on amicable terms,” he said.
"Rob is an excellent senior mining and operations executive and we have no doubt he will prosper in the mining industry. We wish him all the best for the future.”