Graphite explorer Lamboo Resources will be on the hunt for a new leader after the resignation of managing director and CEO Richard Trevillion.
The Adelaide based company has appointed executive director Tony Cormack, a geologist of 20 years’ experience, to the role of interim CEO.
Cormack has held senior roles with BHP and Atlas Iron, as well as Aztec Resources on the Kooland Island project, and is the operational manager of all of Lamboo Resources projects.
Trevillion was instrumental in the formation of Lamboo Resources and the development of the McIntosh deposit in Western Australia.
Lamboo chairman Neville Miles said the board thanked Trevillian his work in building the company.
“He certainly laid a strong foundation going forward in terms of a quality asset at McIntosh,” he said.
The McIntosh tenements cover 330 square kilometres, and are located approximately 300 kilometres south of the port of Wyndham.
The company recently announced the financial viability of the McIntosh resource , with a target resource of 80 to 127 million tonnes at 2.5-6 per cent total graphitic content, and an initial mine life of 13-16 years based on production of 50-100 ktpa.
Lamboo also has projects as Halls Creek in the East Kimberley (copper/gold) and Valla in northern New South Wales (molybdenum/silver), as well as three projects in South Korea.
Lamboo Resources (ASX:LMB) gained 15 per cent yesterday to close at $0.115.