Magnetite Mines Limited (ASX: MGT) (Company) advises of the change of Chief Financial Officer (CFO) and Company Secretary role to a full-time position.
As highlighted in the Company’s recent AGM presentation, the Company is progressing discussions with potential debt and equity providers to secure funding for its flagship Razorback Iron Ore Project. The CFO will play a key role in supporting the Board and management team in this work and the Board has determined that this work will be a full-time role going forward.
Given this, the Company has agreed that the current part-time CFO & Company Secretary, Mr Frank DeMarte, has departed the role with effect from December 3, 2021. Mr DeMarte has been a longstanding and valued member of the Magnetite Mines’ executive team, overseeing the finance, accounting, corporate governance and administrative functions. Mr DeMarte resigned as a Director of Magnetite Mines on 31 July 2020 and is presently Executive Director, CFO and Company Secretary of Ora Gold.
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