SVD appoints high profile executive Chairman to progress WA gold-nickel projects
There have been important board changes at ScandiVanadium Ltd (ASX:SVD), most notably the appointment of highly experienced resources executive, David Frances as executive chairman.
The appointment of Frances strengthens ScandiVanadium’s board and management team and is representative of the group’s intent to extract maximum value from its quality asset portfolio.
The company has recently acquired the Pascalle Gold Project, located in the heart of the Paterson Province within 14 kilometres of Newcrest Mining’s (ASX:NCM) 32 million ounce Telfer Mine. SVD has also acquired the Gnama Nickel Project in the Fraser Range Nickel Belt.
Renewed exploration of the Paterson Province in recent years has resulted in significant discoveries, including Greatland Gold’s (AIM:GGP) Havieron Discovery (results included 275 metres at 4.8 g/t gold and 0.6% copper) and Rio Tinto’s (ASX:RIO) Winu Discovery (results included 681 metres at 0.49% copper and 0.33 g/t gold).
As a Perth-based international mining executive with nearly 30 years of experience in discovering and developing assets in Australia and Africa, Frances’ appointment brings a new level of West Australian experience to the board and extensive expertise in developing exploration projects, positioning the company well for future growth.
Frances has demonstrated his ability in taking projects from exploration to development and on to production, and it is also important to note his corporate experience.
Frances also brings corporate and capital markets experience
Frances was responsible for acquiring and recommissioning the Dikulushi copper-silver mine in the Democratic Republic of Congo (DRC) and relisting on the Toronto Stock Exchange with a market capitalisation of approximately $250 million, completing the world’s largest base metals capital raise and IPO in 2010.
His past experience includes chairman and managing director of ASX listed Tawana Resources and Winward Resources, which was acquired by Independence Group Ltd (ASX:IGO) in 2016.
More recently, he has served as managing director for Dakota Minerals and executive chairman of Tiger Resources.
Commenting on the substantial benefits that Frances brings to the company, former chairman Brandon Munro said, “We are delighted to have attracted an executive of the calibre of David Frances.
‘’He is a proven operator with highly attuned corporate acumen and excellent geological skills.
‘’David’s enthusiasm in joining the company at this stage in our journey speaks volumes to the potential of ScandiVanadium’s assets.”
The timing of the appointment couldn’t be better — as Frances noted, a renewed understanding of the Paterson province makes the Pascalle Gold Project a highly prospective tenement, perhaps presenting the executive with a new challenge of taking a project from exploration to production.
Reflecting on previous experience in Western Australia, Frances said, ‘’Having previous exposure to the Fraser Range as managing director of Winward Resources, I can also appreciate the obvious prospectivity of the Gnama nickel project.
‘’I am very happy to be involved with gold and nickel in two world-class provinces.’’
With the appointment of David Frances as executive chairman, Brandon Munro will move from non-executive chairman to non-executive director. David Minchin will move from managing director to executive director.