VANCOUVER, BC, Oct. 12,
2023 /CNW/ - Kainantu Resources Ltd. ("KRL" or the
"Company") (TSXV: KRL) (FSE: 6J0) announces that Adam Clode has been appointed as interim Chief
Executive Officer of the Company and Dain
Currie has been appointed as Chairman of the Company. These
appointments fill the vacancies of outgoing Chief Executive Officer
and director, Matthew Salthouse, and
Chairman and director, Marcus
Engelbrecht.
With Mr. Clode as Chief Executive Officer of the Company, the
Company will focus on managing its costs, allocating the necessary
resources towards its business development efforts, securing
further financing, and maximizing value for its shareholders.
Adam Clode has a track record of
developing resource projects from defined resource through to
operations, across Africa,
Asia, and Australia. Graduating from the University of
Western Australia with Honours;
Adam started his career developing a gold asset for Newmont Mining
Corporation in Ghana before moving
to Site Manager for Equinox's Lumwana Copper Project in
Zambia. Taking his career forward,
Mr. Clode commenced and completed a master's in project management
while concurrently holding the role of Deputy Project Manager
developing a Platinum Concentrator in South Africa.
From here, Mr. Clode took on the role of Deputy Project Manager
for RWE's £850M Pembroke Power Station in West Wales and later became Manager of
Projects for African Minerals' USD $3B Tonkolili Iron Development in Sierra Leone, spending considerable time in
China with key offtake partners as
well as funding institutions across Asia and Europe. As a result of the team's hard work,
African Minerals were able to secure over USD $2B in strategic funding.
With successful delivery of Tonkolili Phase 1 and shipping of
first ore; Mr. Clode then headed off to Indonesia with J Resources to lead the
development of their gold portfolio consisting of; two operations,
three execution projects, and three assets in exploration.
Mr. Clode's resource experience has covered a broad base across;
studies, development, execution, operations, as well as corporate
management having sat on several board positions as both Executive
and Non-Executive Director.
About KRL
Kainantu Resources 'KRL' is an Asia-Pacific focused gold mining company with
four highly prospective gold-copper projects, Kili Teke, KRL South, KRL North and the May
River Project. All projects are located in premier mining regions
in PNG. Both KRL North and KRL South show potential to host
high-grade epithermal and porphyry mineralisation, as seen
elsewhere in the high-grade Kainantu Gold District. The May River
project is near the world-renowned Frieda River Copper-Gold
Project, with historical drilling indicating the potential for
significant copper-gold projects. Kili
Teke is an advanced development project with an existing
NI43-101 compliant inferred mineral resource. KRL has a highly
experienced board and management team with a proven track
record.
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this
release.
Disclaimer and Forward-Looking
Information
Statements contained in this release that are not historical
facts are forward-looking statements that involve various risks and
uncertainty affecting the business of KRL. In making the
forward-looking statements, KRL has applied certain assumptions
that are based on information available, including KRL's strategic
plan for the near and mid-term. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. KRL does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE Kainantu Resources Ltd.
