Magnetite Mines Ltd (ASX:MGT) has enhanced its leadership team with the appointment of experienced financial executive Simon Smith as chief financial officer.
Smith brings to the company his vast experience as a CFO and company secretary within ASX and TSX-listed companies.
He has played a pivotal role in the leadership and strategic direction of growth-driven companies, effectively driving their financial success.
What's more, Smith has successfully led the execution of capital raisings totalling in excess of A$500 million, encompassing debt and equity financing, as well as initial public offerings (IPOs).
Crucial next stage of development
Magnetite CEO Tim Dobson: “We are extremely happy to welcome Simon into the Magnetite Mines executive team at an exciting time for the company.
“Having recently crystalised our expansive ore reserves position and optimum base case project configuration for the development of Razorback, Simon’s comprehensive skillset and experience will be essential as the company enters the crucial next stage of development.”
Notable experience
Smith is a member of the Australian Institute of Chartered Accountants and was most recently the CFO of Energy Action Limited.
Prior to that, he was CFO and company secretary of ASX-listed Heron Resources Ltd (ASX:HRR), overseeing the $340 million project financing and commercial development of the Woodlawn Zinc-Copper Mine in NSW through to full-scale operations.
Smith added: “I am delighted to join Tim and the team at Magnetite Mines and am eager to repeat my recent experience in bringing Woodlawn from exploration through to financing and commercial production with Razorback.
“Having lived in South Australia in my formative years, I am keen to take part in the development of a new mining province and green iron industry that will be transformational for South Australia.”