Alto Metals Ltd (ASX:AME) has bolstered its board with the appointment of experienced and highly regarded mining executive Mark Connelly as independent, non-executive chairman.
The company expects to reap the benefits of Connelly’s extensive board and industry experience, including overseeing a number of companies transition from advanced explorer to developer and through to producer.
Strong portfolio
He is currently the chairman of Western Australian gold producer Calidus Resources and of Chesser Resources and was previously chairman of West African Resources Ltd (ASX:WAF) and a director of B2 Gold Ltd, Saracen Minerals Ltd and Ausdrill Ltd.
Adding to his impressive portfolio, Connelly was previously managing director & CEO of Papillon Resources and was instrumental in the US$570 million takeover of Papillon by B2Gold Corporation in October 2014.
Prior to Papillon, he was the chief operating officer of Endeavour Mining Corporation, following its merger with Adamus Resources (ASX:ADU) Limited where he was managing director & CEO.
Connelly was instrumental in the merger but also in securing the project finance and development of the Nzema Gold Mine.
“Strong endorsement”
Alto’s managing director Matthew Bowles said: I am delighted Mark Connelly has decided to join the board of Alto Metals as chairman and look forward to working with him and the board as we advance the company’s growth strategy.
"Attracting someone of Marks’ calibre is a strong endorsement of the potential of the project; he has an outstanding reputation in the market and a proven track record of creating significant value for shareholders.
"Mark's appointment to the board further strengthens the corporate and industry experience of Alto, which will be invaluable as we continue to unlock the significant value of our Sandstone Gold Project."
Current chairman Richard Monti will continue with the company as a non-executive director.
Connelly is a Member of the Australian Institute of Company Directors (MAICD), a Member of the Australian Institute of Management (AIM) and a Member of the Society of Mining, Metallurgy and Exploration (SME).
An “outstanding” project
The new chairman said: I am looking forward to working with the Alto team and assisting the company through its next stages of growth to help realise its full potential.
"Matt and the team have done a tremendous job to date, focusing on a systematic and methodical approach to exploration, which continues to deliver some excellent results.
"To me, the Sandstone Gold Project is an outstanding, and greatly underexplored, project and I am excited to be part of this evolving story."
Director retirement
Alto's major shareholder and non-executive director Terry Wheeler has advised the company of his intention to retire from the board following the close of the upcoming Annual General Meeting in November.
Wheeler said: “While I may be retiring from the board, I wish to assure shareholders that I remain committed to the company.
"The appointment of Mark is yet another endorsement of the potential of the Sandstone Gold Project and I look forward to following the company closely as it continues to unlock the value of this exciting project.”
In a statement, the company said: “The board warmly thanks Terry Wheeler for his service and support to the company over the years and advise that he will be formally farewelled at the company’s upcoming Annual General Meeting.”