Mandalay Resources Appoints Frazer Bourchier as President and Chief Executive Officer
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Mandalay Resources Corporation has appointed Frazer Bourchier to lead Mandalay as the new president and chief executive officer effective April 3, 2023. Bourchier will also be appointed to the board. In the interim, current CEO, Dominic Duffy, will be working closely with Bourchier to support a smooth transition. Duffy will remain on the board as a non-executive director.
Frazer Bourchier has more than 32 years of industry experience with a proven track record of operational success and executing upon growth strategies across multiple mining jurisdictions. He previously served as CEO of Harte Gold, COO for Detour Gold Corporation and Nevsun Resources, and VP business development & technical services at Silver Wheaton (Wheaton Precious Metals). He has held numerous executive leadership roles and was instrumental in creating meaningful growth in numerous gold and polymetallic operations in North America and internationally.
“We are delighted to welcome Frazer to Mandalay as our new CEO. With his extensive industry knowledge, operational track record and deep understanding of capital markets, Frazer is well suited to lead Mandalay in executing our long-term objectives and maximizing shareholder value. Frazer inherits this strong foundation and the board believes that this positions the company for further success in the years ahead,” said Bradford Mills, executive chair.
“I would also like to thank Dominic for his strong leadership over the last five years that has seen the company’s reserves grow significantly and our balance sheet improve to the point where we are able to start returning capital to our shareholders again,” added Mills.
“I am thrilled and energized to be joining Mandalay and believe there is tremendous opportunity ahead to continue to transform and grow the company. I am excited to get started and work towards these goals, while unlocking further long-term value for all stakeholders with the support of an excellent team,” said Incoming CEO Frazer Bourchier.
“Mandalay is uniquely positioned with its diversified asset base and healthy balance sheet and I look toward leveraging our competitive advantages and momentum to further develop our operations, grow the company and deliver world-class results,” added Bourchier.
About Mandalay Resources
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), with projects in Chile and Canada under closure or development status. The company is focused on growing its production and reducing costs to generate significant positive cashflow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement. Mandalay’s mission is to create shareholder value through the profitable operation and continuing the regional exploration program, at both its Costerfield and Björkdal mines. Currently, the company’s main objectives are to continue mining the high-grade Youle and Shepherd veins at Costerfield, which are expected to continue to supply high-grade ore to the processing plant, while extending Mineral Reserves. At Björkdal, the company will aim to increase production from the Aurora zone and other higher-grade areas in the coming years in order to maximize profit margins from the mine.
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