Fenix Resources Ltd (ASX:FEX) has developed its strategic financial advisory capacity and fulfilled an acquisition agreement with Newhaul Pty Ltd with the appointment of Stuart Ausmeier as chief financial officer and Craig Mitchell, founder of Newhaul, as non-executive director, effective today.
Ausmeier is a Chartered Accountant and Chartered Financial Analyst with more than 20 years of experience in mining and finance.
He previously served in senior financial roles and as group treasurer for an ASX-listed global engineering company and worked at global investment bank NM Rothschild & Sons, where he provided strategic advice as well as debt and equity transactions for the mining industry.
The appointment of Craig Mitchell to non-executive director fulfils an agreement with Newhaul to consolidate 100% ownership of the company’s haulage company, Fenix-Newhaul.
Read: Fenix Resources takes ownership in haulage business to 100%; begins leadership transition
Additions “greatly enhance” team
“Fenix will be greatly enhanced by the addition of Craig Mitchell and Stuart Ausmeier to our team,” Fenix Resources chair John Welborn said.
“I am delighted we have filled the important role of chief financial officer with a finance executive of Stuart’s calibre and experience.
“Stuart’s demonstrated capabilities in the resources sector are a perfect match for the opportunity at Fenix to build on the company’s excellent financial platform as we explore further opportunities for value creation.
“Craig Mitchell is Fenix’s largest shareholder and has direct and comprehensive experience in relevant logistics operations and in building successful companies.
“I look forward to working with Craig to build on Fenix’s success and grow the company to add value for shareholders.”
In addition to Newhaul, Mitchell founded Mitchell Corp in 1997, which provided bulk haulage services in four states for some of Australia’s largest energy and mining businesses, before its sale to Toll Group in 2011.
Known for positive engagement with local communities through community initiatives, Mitchell is a former Ernst and Young Western Australian Young Entrepreneur of the Year.