Mining legend joins Ontario lithium hunt
December 16, 2022Balkan Mining and Minerals (ASX: BMM) has secured the timely services of former Sandfire Resources boss Karl Simich who will play a core role in helping to build upon the recent success of its Canadian lithium exploration centred on opportunities within the emerging Thunder Bay Mining District in Ontario.
The news comes amid promising results from Balkan’s most advanced Gorge Lithium Project, where channel sampling has confirmed the fertility of large and highly weathered clusters of pegmatites at two of the property’s key prospect areas.
“We are absolutely delighted to have secured Karl’s services as a Director and strategic adviser,” Managing Director Ross Cotton said.
“Karl has a proven track record in exploration and mining over many years and will bring invaluable skills and experience to Balkan Mining as we work to advance our global lithium exploration portfolio.”
Karl Simmich commented:
“I am very pleased to join the Balkan Mining Board at such an exciting stage of the Company’s growth and development. I have followed the Company closely over the past year and a half, and I see great growth potential across its international portfolio of lithium assets.”
Price Action
The Company’s ASX-listed shares have risen 16.3 per cent to 36c in the opening minutes of trade.
About Karl Simmich
Mr Simich has more than three decades of experience with publicly listed mining and exploration companies (see below). He brings a wealth of strategic and corporate knowledge, including exploration, resource development, mine financing, development, operations and M&A across multiple jurisdictions.
As a Director of Balkan Mining, he will provide input and advice on strategy, corporate and business development and stakeholder relations.
Mr Simich has 36 years of experience with publicly listed mining and exploration companies on the ASX, TSX and LSE, most recently as the founder, Managing Director and CEO of Sandfire Resources (ASX: SFR) between 2006 and September 2022.
During this time, he guided Sandfire through the discovery, financing, development and successful 10-year operation of the highly profitable DeGrussa Copper Operations inSandfire’sustralia.
He also oversaw the implementation of Sandfire’s international expansion strategy to become a globally significant copper miner, including the US$1.865 billion acquisition of MATSA copper operations in Spain. At the end of his tenure, Sandfire had mining operations and development projects spanning three continents.
Throughout his career, Mr Simich has overseen the financing and development of more than 10 mines in Australia, New Zealand and Africa, including base, precious and industrial metals spanning small to large-scale open pit, underground and alluvial operations.
Before his role with Sandfire, Mr Simich held senior leadership positions with Churchill Resources, Union Gold Mining, Macraes Mining (now Oceania Gold), Kimberley Diamonds, Namakwa Diamonds and Blina Diamonds.
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