Condor Metals steps up activity with appointment of Chief Operating Officer
Condor Metals Ltd (ASX Code: CNK) is pleased to announce that it has strengthened its management team with the appointment of experienced mining executive, John McKinstry, to the role of Chief Operating Officer. Mr McKinstry's role will be to accelerate the evaluation of Condor's iron ore, manganese and nickel prospects.
With strong operating background in both base metals and gold Mr McKinstry brings over 25 years' experience with international mining companies including Normandy, Newmont Mining & MIM.
In his most recent role as Chief Executive Officer with North Queensland Metals Ltd he took a newly listed explorer to a producing miner and in the process raised $30 million in capital, executed feasibility studies, managed joint venture relationships and substantially increased shareholder value.
Condor Metals Chairman Laurence Freedman AM said, "Mr McKinstry skills will be very valuable to Condor as it continues to expand its resource base of iron ore, manganese and nickel, and to then develop these resources into reserves - either independently or in conjunction with joint venture partners."
"This appointment continues the process of transformational change within Condor Metals. In recent months we have significantly improved the capabilities and independence of the Board, and increased our focus on exploring and evaluating our resource base." Mr Freedman said.
"John McKinstry is a perfect fit for Condor Metals, adding a strong internal management capability. His appointment enables us to aggressively explore and expand its assets and deliver strong returns for shareholders," he said.
"The Company has secured highly prospective tenements with proximity to infrastructure. It has full ownership of all its tenements and ample funding for both exploration and development. This allows Condor to pursue its plans to build a substantial diverse metals portfolio.Exploration in the Company's Dingo Range target, some 450 kilometres north of Kalgoorlie, has confirmed the presence of significant iron enrichment in surface gravels and rock outcrops over a strike distance of approximately 40 kilometres.
The Dingo Range tenements are now a priority for the Company's drilling program in order to rapidly assess if sufficient quantity of deposit exists to be 'Direct Shipping Ore', which does not require significant processing.