MELBOURNE: Kalamazoo Resources Limited, an ASX-listed exploration company, has appointed mining executive Andrew McDougall as its new chief executive officer, effective May 4.
McDougall brings more than 25 years of global experience to the role, having served most recently as chief technical officer at Westgold Resources Limited. His career includes senior leadership positions at Anglo American plc, AngloGold Ashanti plc and Rio Tinto Limited, with a focus on asset strategy, feasibility studies, capital allocation and project execution.
The appointment comes as Kalamazoo advances its Ashburton Gold Project through a pre-feasibility study. The project in Western Australia’s Pilbara region has an estimated 1.44 million ounces of gold resources, according to company figures.
“Andrew’s capability, depth of technical knowledge, global project experience and disciplined approach to feasibility and asset strategy significantly strengthen the company,” Executive Chairman Luke Reinehr said in a statement. “His experience in life-of-mine planning, resource development and operational readiness will enhance the quality and confidence of our pre-feasibility study outcomes.”
The company said McDougall will also oversee development of its Victorian gold-antimony projects at Castlemaine, Tarnagulla and Myrtle, as well as exploration assets in Western Australia’s Murchison region.
McDougall will receive a base salary of $350,000 per annum, exclusive of superannuation, and has been granted 3 million unlisted company options with a strike price of $0.275, expiring three years after issue. His contract has no fixed period and requires three months’ written notice for termination by either party.
“I am grateful to the Kalamazoo board for my appointment, and enthusiastic about leading the business forward,” McDougall said. “The Ashburton Gold Project provides the opportunity to realise revenue generation through safe and sustainable project execution and operational discipline.”
Kalamazoo’s Ashburton project includes resources at Mt Olympus, Peake, Waugh and Zeus, with indicated and inferred resources totaling 16.2 million tonnes at 2.8 grams per ton for 1.44 million ounces, according to the company’s most recent estimates.
The company holds 100% ownership of the Castlemaine Goldfield, which has historical production of approximately 5.6 million ounces, and explores near Northern Star’s Hemi gold discovery in the Pilbara.