Greatland Gold PLC (AIM: GGP, OTC: GRLGF) said it had secured up to A$340m (£200m) in new funding which it says will fully fund its 30% share in the development of the world-class Havieron gold and copper deposit in Western Australia in production and unveiled three transformational board appointments.
The AIM-listed development and exploration company says three of Australia’s top business and mining leaders will join its board of directors to help its transition into a gold producer and copper.
Mark Barnaba, a prominent natural resources investment banker and group vice-chairman of ASX-listed AU$50 billion Fortescue Metals (ASX:FMG) Ltd, will become non-executive chairman of Greatland, and Elizabeth Gaines, former chief executive and managing director of Fortescue, will become a non-executive director and vice-chairman.
They both intend to serve in a board capacity beginning today before joining the board no later than January 1, 2023.
James ‘Jimmy’ Wilson, a former senior BHP Group executive, including the former chairman of its iron ore division, will also join Greatland as chief executive from today.
Greatland said it plans to undertake a cross-listing on the Australian Securities Exchange to increase liquidity and provide additional access to capital.