Katoro Gold PLC (AIM: KAT) has proposed the appointment of Sean Wade as non-executive chairman of the company.
Mr Wade has extensive professional experience in the junior resource exploration sector, with board experience across multiples entities encompassing a wide variety of commodities and geographies. He is the CEO of Power Metal Resources PLC (AIM: POW), Katoro’s joint venture partner at the Haneti Project in Tanzania, targeting a major metal discovery (KAT 65%: POW 35%).
Prior, Mr Wade served in senior roles in mining companies including Berkeley Energia PLC, Pensana PLC, and Asia Resource Minerals PLC. He has worked on numerous transactions in the capital markets, including IPO’s, secondary capital raising and M&A in a wide variety of different jurisdictions and exchanges. His extensive network covers numerous capital providers, including institutional funds, family offices and private wealth.
Mr Wade’s appointment is conditional only on the satisfactory completion of stock market (including nominated adviser) due diligence which is a standard procedure prior to the appointment of directors onto the board of an AIM company.
The company previously announced on 12 February 2024 that two new directors are to be appointed to the board of the company. Mr Wade, subject to due diligence as outlined, will be the first and a second director is expected to be appointed shortly thereafter.
Following the appointment of Mr Wade as non-executive chairman, Louis Coetzee, former chairman, will remain as executive director before stepping down simultaneously with the appointment of the second director. Mr Coetzee will then become a consultant to Katoro until 31 July 2024 to assist with the transition of responsibilities.
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