Okapi Resources Ltd (ASX:OKR) has appointed Brian Hill as non-executive chairman of the company, effective immediately, to replace interim chairman Peretz Schapiro.
Hill, who has previously held a senior position with gold mining giant Newmont Mining Corporation has over 35 years of experience across the globe with a strong track record and extensive experience in building businesses, mergers and acquisitions, due diligence, corporate and social governance.
OKR is looking to leverage this experience as it furthers its uranium ambition in North America.
The company recently acquired a portfolio of advanced, high-grade uranium assets in the US and in the Athabasca Basin, Canada, including a strategic position in one of the most prolific uranium districts in the US – the Tallahassee Creek Uranium District in Colorado.
The Tallahassee Uranium Project contains a JORC 2012 mineral resource estimate of 27.6 million pounds of U3O8 at a grade of 490ppm U3O8 with significant exploration upside. The portfolio of assets also includes an option to acquire 100% of the high-grade Rattler Uranium Project in Utah, which includes the historical Rattlesnake open pit mine.
In January 2022, Okapi acquired a portfolio of high-grade exploration assets in the world’s premier uranium district, the Athabasca Basin. The Athabasca Basin is home to the world’s largest and highest-grade uranium mines. Okapi’s clear strategy is to become a new leader in North American carbon-free nuclear energy by assembling a portfolio of high-quality uranium assets through accretive acquisitions and exploration.
READ: Okapi Resources closes agreement to acquire high-grade uranium assets in Athabasca Basin
Extensive experience
Hill is based in Denver, Colorado and understands the US landscape.
He previously served as executive vice president operations, including global responsibility for health & safety and executive vice president sustainability and external relations at Newmont, one of the world’s largest gold producers.
Hill served as Newmont’s senior vice-president for its Asia Pacific region based in Perth with responsibility for Boddington, Jundee, the Kalgoorlie Consolidated Gold Mines JV and the Tanami operations in Australia, along with Batu Hijau in Indonesia and Waihi in New Zealand.
He also served as a member of the board of directors of the Minerals Council of Australia and an executive committee member of the Chamber of Minerals and Energy of Western Australia.
As managing director for LionOre Australia Pty Ltd, he was instrumental in the takeover by MMC Norilsk Nickel in June 2007 as part of Norilsk’s C$6.8 billion acquisition of LionOre Mining International.
From 2004 to 2006, Hill was managing director and CEO of Equatorial Mining Ltd, where during his tenure, Equatorial reached a market capitalisation of $550 million prior to being purchased by Antofagasta PLC (LSE:ANTO). From 2000 to 2004.
He is currently an operating partner at Pacific Road Capital, a mining private equity firm and a non executive director of North Coal Ltd, a metallurgical coal development company in BC, Canada.
Adding significant leadership
“I am very excited by the appointment of Brian Hill as the incoming chairman. Brian will add significant leadership and experience to the board,” Okapi Resources managing director Andrew Ferrier said.
“Brian and I worked closely together at Pacific Road and share a common set of views and beliefs on how to create shareholder value through both project development and acquisition and also the importance of corporate social responsibility. This is another stepping stone for the company as we continue to build the board and management team with the vision of building a uranium company in North America.
“On behalf of the entire board, I would also like to thank Peretz for his support and service. Peretz has played a fundamental in the transformation of the company over the past six months.”