Balkan Mining and Minerals

Karl Simich To Join The Balkan Mining Board

Balkan Mining and Minerals Ltd  (ASX: BMM; “Balkan Mining” or “the Company”) is pleased to advise that highly experienced mining executive Karl Simich has agreed to join the Company’s Board as a Director, tasked with a particular focus on strategy, corporate development and growth.


Mr Simich stepped down as Managing Director of Sandfire Resources (ASX: SFR) (“Sandfire”) at the end of September 2022, after 15 years at the company’s helm, having overseen its transformational growth from a junior micro-cap to a successful mid-tier producer with a global footprint.

He is familiar with the Balkan Mining team and assets from his time at Sandfire, which helped incubate the Company as part of its Sandfire Ventures investment division.

Mr Simich has more than three decades of experience with publicly listed mining and exploration companies (see below) and brings a wealth of strategic and corporate knowledge, including in 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’ 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 in Western Australia.

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 the 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 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.

Prior to 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.

Mr Simich is focused on value creation through the delivery of future-facing metals and minerals, with a demonstrated commitment to the highest standards of corporate governance.

The Company has agreed, subject to obtaining ASX and shareholder approval, to issue Mr Simich (or his nominee), 5,800,000 incentive performance rights. Mr Simich’s appointment is conditional and will be effective on and from the date on which shareholder approval for the issue of these performance rights is obtained.

It is the Company’s intention to seek shareholder approval at a shareholder meeting expected to be held as soon as practical.

A summary of Mr Simich’s agreement is summarised in Appendix A.

The Company further advises that it has agreed, subject to obtaining shareholder approval, to issue to the Company’s Managing Director, Mr Ross Cotton (or his nominee), 3,000,000 incentive performance rights, to convert on the achievement of the same milestones as the performance rights offered to Mr Simich (equally divided over the proposed three tranches as referred to in Appendix A), which will be considered at the upcoming shareholder meeting.

 

Balkan Mining Managing Director, Mr Ross Cotton, commented:

 

“We are absolutely delighted to have secured Karl’s services as a Director and strategic adviser. 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.”

 

Mr Karl Simich, 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.”


Click here for the full ASX Release

This article includes content from Balkan Mining and Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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