Walkabout Resources Ltd (ASX:WKT) (FRA:N6D) has made changes to the board and senior management as part of its strategy to position itself for the next phase of development and operations at its Lindi Jumbo Graphite Project in Tanzania after recently securing debt funding.
Allan Mulligan will step down from the board and assume a new role of chief operating officer primarily charged with delivery of the Lindi Jumbo project.
Walkabout believes the safe, on-time and within budget delivery of mine construction is a corporate priority and that the company needs a dedicated chief operating officer with deep African Mining experience.
The board is delighted that Mulligan has chosen to focus on this vital, direct role at a time when execution is paramount.
In addition, Andrew Cunningham has been appointed chief executive, having been intimately involved with the Lindi Jumbo project since its inception.
Structuring for development, operations and growth
Mike Elliott has been elected as non-executive chair of the board and expressed deep appreciation for the contribution that Mulligan has made to the company as an executive board member.
He said: “Most of the heavy lifting to get Lindi Jumbo to development was from the outstanding teamwork of Andrew and Allan.
“On behalf of shareholders and staff, I would like to thank them both for their contributions to date.
“As we reconfigure for new challenges the company will benefit from Andrew having overall executive responsibility and managing our exciting portfolio of growth opportunities.
“We will also greatly benefit from Allan’s narrowed focus in making Lindi Jumbo the success we know it will be.
“Given the unique aspects of developing and operating a project in Tanzania and in the graphite sector, it is a major risk mitigant that our executive team has strong continuity from the exploration, evaluation and design phase.”
Elliott has more than 34 years of experience working with mining and metals clients around the world, has been a non-executive director of Walkabout since 2018 and provided guidance to the executive management team during the difficult process of debt funding through the COVID pandemic
Extensive African experience
Cunningham is a resource sector executive and geologist with extensive cross-discipline technical and management experience predominantly in Africa and Australia.
During the last 20 years, he has managed all facets of exploration and development projects with a considerable amount of time spent in Tanzania including new-mine development.
He has been working with Walkabout since 2013 and brings a wide range of exploration, resource development, feasibility study management, new mine development in open-pit and underground operations, stakeholder engagement, and management experience to the company.
Importantly, he is based in Africa which will a major advantage to the company as COVID travel restrictions make it difficult for any Australian-based management to regularly visit Lindi Jumbo.
As a result of Mulligan’s exit from the board, the company will take the opportunity to reorganise its board composition such that it is more in line with Australian best practice in terms of governance, strategy and operational capacity.
This will entail the appointment of two additional non-executive directors with a selection process already underway.