Yandal Resources Ltd (ASX:YRL) will farewell Managing Director and CEO Lorry Hughes, who has resigned to pursue other interests as part of a managed succession.
The role of CEO and MD will fall to current Non-Executive Chairman Mr Timothy Kennedy, who will transition into the role over the next few months.
Kennedy will work in a part-time capacity as Executive Chairman and assume full operational control April 4 this year.
The company is now on the hunt for a new Non-Executive Chairman and is confident of attracting a quality candidate to support its strategic objective of making a significant gold discovery.
Yandal is a gold exploration company with a portfolio of advanced gold projects in the highly prospective Yandal and Norseman-Wiluna Greenstone Belts.
The company’s strategy is to aggressively explore a number of highly prospective areas within its projects to make multi-million ounces discoveries.
“The Board would like to thank Lorry for his outstanding efforts in acquiring and driving the project portfolio of Yandal. The successful definition of new highly significant mineralisation at several prospects ensures the Company has a solid platform to grow further in the near-term,” Kennedy said.
“Mr Hughes has worked tirelessly to progress the Company, and I along with my fellow board member Katina Law thank him for all his contribution and wish him well with his future endeavours. I look forward to working full-time with the Yandal team to unlock the potential of the Company’s highly prospective exploration ground.”
30 years in resources
Kennedy is a highly experienced resources professional and geologist, boasting a successful +30-year career which includes extensive involvement in the exploration, feasibility and development of gold, nickel, platinum group elements, base metals and uranium projects throughout Australia.
His most recent executive role was as exploration manager for 11 years with Independence Group NL.
Kennedy has been involved in a number of significant mineral discoveries throughout the course of his career including being part of the team that represented IGO on the exploration steering committee with AngloGold Ashanti (ASX:AGG) during the multi-million ounce Tropicana, Havana and Boston Shaker discoveries and the discoveries by IGO of the Rosie magmatic nickel sulphide