New dawn for Day at Kingsgate

Former Kagara managing director Geoff Day has been appointed chief executive of Kingsgate Consolidated.

It follows the complex collapse of copper, nickel and zinc producer Kagara, which has been in liquidation since April 2012.

Kagara’s administrators recently announced the sale of its northern Queensland-based mining projects to Red River Resources for $6.5 million, almost a year after a discontinued attempt to sell assets in southern Queensland to privately-held Lucky Metals.

Mr Day was at the helm of Kagara when it went into administration, after an ill-fated attempt to repair the miner plagued by high costs and low commodity prices.

Kingsgate chairman Ross Smyth-Kirk welcomed the appointment.

“We are very pleased that Geoff is joining Kinsgate and bringing the requisite skills and background to assist Kingsgate to deliver the high performance outcomes we expect from our existing operations and progress the strong development opportunities in our asset portfolio,” Mr Smyth-Kirk said.

Mr Day said he was delighted to be joining the business, and looked forward to working with the Kingsgate team to realise the full potential of the company’s asset base.

Former Kingsgate managing director Gavin Thomas stood down from the position in March this year due to health reasons, before passing away last month.

Kingsgate closed at 95 cents, an increase of 3.3 per cent today.