Astral Resources NL (ASX:AAR) has welcomed Australian mining executive Mark Connelly as non-executive chair, following his short stint as a non-executive director from December 27 last year.
Connelly has been helping Astral through a transition period after outgoing chair Leigh Warnick SC tendered his resignation as a director, effective January 15 2024.
Connelly is a highly experienced mining executive and has a strong track record of value creation in the gold industry.
Outgoing chair thanked
“The appointment of Mark as non-executive chair completes a brief transition period with Leigh. As previously stated, I am thrilled that Mark decided to join the board of Astral Resources and even more excited that Mark will now chair the company moving forward,” Astral’s managing director Marc Ducler said.
“I would like to thank Leigh for his significant contribution to Astral. Leigh joined Astral at a very tumultuous juncture for the company.
"Since his appointment, he has been a steadying influence on the company and has been very supportive of the management team as we seek to create value for our shareholders.
"On behalf of the board, management team and all shareholders, I thank Leigh for his stewardship over the past four years and wish him all the best with his future endeavours.”
Well regarded appointment
Connelly formerly held the position of non-executive chair at both Oklo Resources and Chesser Resources. Oklo was acquired by B2Gold (NYSE:BTG) Corporation Ltd in a takeover valued at A$90 million, completed in September 2022. Similarly, Chesser was acquired by Fortuna Silver (TSX:FVI) Mines Inc in a deal worth A$89 million, finalised in September 2023.
In the earlier stages of his career, Connelly played a pivotal role as managing director and chief executive officer (CEO) of Papillon Resources, leading to its US$570 million acquisition by B2Gold Corporation Ltd in October 2014.
Before this, he served as the chief operating officer (COO) of Endeavour Mining Corporation, subsequent to its merger with Adamus Resources Limited, where he was the managing director and CEO.