Philanthropist and experienced mining executive Kerry Harmanis has been appointed as non-executive chairman of gold explorer Talisman Mining, sending the company's shares up by nearly 14 per cent.
Philanthropist and experienced mining executive Kerry Harmanis has been appointed as non-executive chairman of gold explorer Talisman Mining, sending the company's shares up by nearly 14 per cent.
Mr Harmanis, who last year founded not-for-profit Mindful Meditation Australia, has more than 40 years’ experience in the Western Australian mining sector including as chairman of successful mid-tier nickel producer Jubilee Mines from 1986 to 2008.
The company was acquired by Swiss group Xstrata for $3.1 billion in 2007.
Mr Harmanis, who assumes his new role today, said Talisman had “an exciting future”.
Currently an 18 per cent shareholder in the company, Mr Harmanis has opted not to receive a salary or be issued with further Talisman shares in his new role.
“I am looking forward to the challenge of leading the company as it embarks on this next chapter in its history,” Mr Harmanis said.
“Talisman is well placed to participate in what is currently a buoyant market for junior exploration companies, especially in the gold sector."
Mr Harmanis said the company would seek further growth opportunities in Western Australia.
"WA remains hugely prospective from a geological perspective and is one of the best places in the world to find, develop and operate high-quality resource assets," he said.
"We will adopt a patient, systematic and judicious approach in our search for new projects to ensure we find the right assets with the potential to create long-term shareholder value for Talisman."
Former chair Jeremy Kirkwood, who will remain on the board as a non-executive director, welcomed Mr Harmanis to the company.
"He will bring experience, energy and opportunities to Talisman, which has significantly transformed over the past two years through the sale of its Monty and Sinclair assets to become a pure, cash-backed exploration company with a prospective royalty portfolio," Mr Kirkwood said.
In June 2018, Talisman sold its 30 per cent interest in the Monty copper-gold deposit in the Doolgunna region to joint venture partner Sandfire Resources for $72 million in cash, as well as for an ongoing 1 per cent smelter return royalty on future discoveries.
Saracen Mineral Holdings purchased Talisman's Sinclair nickel project in the Northern Goldfields for $10 million last September.
Talisman shares were up 10.7 per cent at 1:05pm AEST to trade at 16 cents.
