Gascoyne Resources Ltd (ASX:GCY) chairman and non-executive director George Bauk has stepped down from his post.
The prominent resources executive has resigned from the board after seeing the company through its 2020 relisting and Firefly Resources Ltd acquisition.
He’s passing the baton to fellow non-executive director Rowan Johnston, who will serve as interim non-executive chair as Gascoyne begins the search for Bauk’s replacement.
Leading through “18 months of challenges”
Speaking to his time at GCY, the outgoing chair said: “I thank everyone involved with the company over the past 18 months, as we transitioned from administration to reinstatement on the ASX in October 2020.
“I have enjoyed working with my fellow board members, executives and all employees who are dedicated, resilient and focussed on the journey at Gascoyne.
“The timing is right for me to focus on other aspects of my life, personal and business."
Incoming interim chair Rowan Johnston said: “We would like to thank George for his leadership and guidance through what has been 18 months of challenges, all of which he has met with the highest integrity and thorough vigour.
“The company is now well-financed and in a cash-generating phase at Dalgaranga with an exciting future ahead (albeit with continued COVID-19 challenges).
“I, and I believe all of us at Gascoyne, are proud to have worked with George and wish him all the best with his future endeavours.”
About Gascoyne
Gascoyne was reinstated to the ASX in 2020 and is focused on production, development and exploration across a number of gold projects in Western Australia, underpinned by positive cash flow from its Dalgaranga Operation.
In FY21, Dalgaranga produced in excess of 77,000 ounces of gold.
Gascoyne continues to expand its footprint in the area, having acquired fellow explorer Firefly Resources and the Yalgoo project — roughly 70 kilometres southwest of Dalgaranga — in November 2021.
The Melville deposit at Yalgoo has the potential to be mined and hauled 110 kilometres by road and integrated into the Dalgaranga production plan.