MONARCH Gold Mining Company has appointed Matthew Gill — former manager at Beaconsfield Gold Mine in Tasmania, and three-time consecutive recipient of the Australian Mining Prospect Awards Mine Manager of the Year Award — as managing director.
Current Monarch managing director Allan Quadrio will move to Territory Resources Limited, as Managing Director. He will remain on Monarch’s Board as a non-executive Director.
The key appointment will take effect within the next three months and continues a momentous month for Monarch, which in the past week has poured its first gold at Davyhurst, acquired the new Riverina Gold Project, and announced an $11 million exploration program across its Goldfields projects.
Monarch Chairman Michael Kiernan said the appointment of Gill was another major step forward for the company.
“He has more than 25 years of experience in mining operations, direct involvement in the management of gold mining projects in Australia and overseas, backed by hands-on expertise in both underground and open cut operations,” he said.
“To move Monarch from explorer to producer on time and on budget has been an outstanding achievement by Allan and the team, and I would like to thank him for his commitment on behalf of all shareholders. I’m certain Allan will stay actively involved in Monarch’s development towards a 500,000 ounce per annum producer by 2009,” he said.
In his most recent role as resident manager at Beaconsfield, Gill was instrumental in building the operation from feasibility stage through to production, according to Monarch.
He also has first hand experience in the WA Goldfields as mining manager at Kambalda Nickel Mines with Western Mining Corporation, and international mine management experience with Renison Goldfields and Placer Pacific in Papua New Guinea.
Kiernan said the growing momentum within the gold industry was evident at the recent Diggers and Dealers Conference.
“There was considerable interest in Monarch Gold as the latest entry to the ranks of gold producer, backed by the largest Australian controlled land position in the Kalgoorlie region,” he said.
The positive outlook on demand and price was reiterated at Diggers and Dealers recently by Pierre Lassonde, Vice President Newmont Mining Corporation.
Lassonde tipped gold prices to reach US$750 per ounce before the end of the year, and to eclipse the US$1000 per ounce mark in the near future, fuelled by growing demand for the precious metal from China.