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Perseus Mining aims to strengthen Board through appointment of David Ransom

Appointment of the non-executive director will be put to shareholders at the upcoming annual general meeting.

Perseus Mining Ltd - Perseus Mining aims to strengthen Board through appointment of David Ransom
The six-member Board will include five independent non-executive directors

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (FRA:P4Q) intends to strengthen its Board through the proposed appointment of highly experienced mining executive David Ransom as a non-executive director.

Shareholders will be asked to elect Ransom as a director during the company’s annual general meeting on November 29, 2019.

This appointment would bring the total number of directors serving on the gold producer’s Board to six, including five independent, non-executive directors.

Consultant to the industry

Ransom has directly managed exploration programs for a range of companies in Australia and in Canada and served as an independent consultant to the global mining industry for many years.

More recently, he has held the role of resource analyst/portfolio manager with responsibility for the Materials and Energy portfolio at the successful microcap investment fund, Acorn Capital Limited.

He has stepped away from his executive position at Acorn, providing time to resume an active role in the industry.

“Relevant work experience”

Perseus’ chairman Sean Harvey said, “It will be with pleasure that we welcome a person of the calibre of Dave Ransom to the role of non-executive director on Perseus’s Board.

“Dave has a huge amount of relevant work experience gained over many years in the international mining business and with first-class professional qualifications to match, his skills set and his knowledge perfectly complement those of the current members of our Board.”

Ransom’s professional qualifications include a Bachelor of Science (First Class Honours) and a Doctor of Philosophy (PhD) (Structural Geology).

Apart from his academic knowledge and global industry experience, he has served as a director of a number of ASX and TSX companies during the course of his career.

“Timely” appointment

This makes him extremely well qualified in all respects to contribute positively to the governance of Perseus Mining.

Harvey said, “Given his outstanding skills and experience in the fields of exploration and geology combined with his deep knowledge of the mining industry globally, Dave’s appointment will be very timely in terms of Perseus’ strategy of focusing on organic growth as the primary means of replacing and expanding its significant reserve inventory.

“I know I speak for all directors in sincerely welcoming Dave to Perseus and we look forward to receiving his guidance and benefitting from his wealth of technical knowledge and experience as we continue our journey to transform Perseus into a highly credible, mid-tier gold producer, developer and explorer.”

Founding director to retire

Founding director Colin Carson has decided to retire as an executive director of the company at the annual general meeting.

Since forming the company in 2004, Carson has served as an executive director and has performed the fulltime role of executive director – commercial for the last seven years.

During his time with Perseus, Carson has accumulated a vast amount of corporate history and knowledge which will not be lost to the company as he has agreed to continue serving as a part-time consultant for the foreseeable future.

“Many years of first-class service”

Harvey said, “It is with reluctance and sadness that we have accepted Colin’s decision to retire as an executive director of Perseus after many years of first-class service to the company.

“In his typically selfless manner, Colin has formed the view that with Perseus’ recent successful transition into a successful, multi-mine, multijurisdictional gold producer, it is time to make way for new blood to join the Perseus Board and to refresh the skill sets available to guide the company through its next exciting phase of growth.

“I know I speak for all directors and the management team in sincerely thanking Colin for his guidance and service and his wealth of technical and commercial knowledge and experience that has been invaluable in transforming Perseus from a junior explorer into a highly credible, mid-tier gold producer, developer and explorer.”

Quick facts: Perseus Mining Ltd

Price: 0.87 AUD

ASX:PRU
Market: ASX
Market Cap: $1.02 billion
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