Nov 23 2012
Laurence Freedman AM has today announced his intention to retire as Chairman of KalNorth Gold Mines Limited in two months time.
In August 2010, Laurence was asked to join the Board of KalNorth Gold Mines (formerly Carrick Gold Limited, ASX: CRK) and became Chairman shortly after.
This was a time of great instability for the Company, having had three chairmen in the previous five months.
Laurence agreed to take on the Chairmanship for a period of two years and stated that it was his goal to transition the Company into a credible Australian gold producer within that time.
Notable achievements during his Chairmanship include:
- Recruitment of highly experienced Senior Management personnel including Robert Schuitema (Executive Director and Company Secretary), John McKinstry (Managing Director), Wade Johnson (Exploration Manager) and Rodney Drown (Chief Mining Engineer)
- Sale of non-core assets and interests
- Reappraisal of all previous drilling
- Establishment of a JORC compliant +1.1 million ounce gold Resource
- Acquisition of the Mt Jewell gold deposits from Pioneer Resources Limited
- Rebranding the Company to reflect its focus North of Kalgoorlie
- Raising $7.3 million in an oversubscribed rights issue in order to enhance exploration funding
- Contracting for mining, transport and milling of gold ore by third parties – no capital expenditure
- The Company to commence mining in January 2013
Laurence and the Senior Management team have turned KalNorth Gold Mines into a highly credible, focused and efficient ready-to-mine operation. The Company is underpinned by the highest professional corporate and operational standards. The concentration and focus is now completely on the area 50-80km northeast of Kalgoorlie, the KalNorth Gold Field.
KalNorth has developed four highly advanced and prospective gold fields in the area with a total JORC Resource of over 1.1 million ounces and growing. First mining commences from the Lindsay’s Field in January 2013. Plans are also advanced for a second mine followed by two more.
Laurence Freedman AM commented:
“I stepped into the position of Chairman at a time when the Company urgently needed direction and guidance. I set goals to transform it into a gold producer within a tight timeframe. The transformation from a general explorer to a focused gold producer has now been achieved. Initial mining is only weeks away. The time is near where the inherent value of our assets are about to be unlocked to the benefit of all shareholders.”
“I can confidently state that the corporate structure, personnel and corporate integrity are all ensconced and the Company is in the strongest position in its history to grow materially.”
Laurence will officially retire from his Chairman post and resign from the Board in February 2013. Despite his departure, Laurence plans to retain his substantial shareholding in the Company.
He continues to mentor a number of individuals and companies. He is Chairman of the Freedman Foundation, a philanthropic self-funded Foundation involved in medical and scientific research, the arts and youth programs.
Source: http://www.kalnorthgoldmines.com/