African Gold appoints new CEO ahead of planned Didievi project expansion
African Gold (ASX: A1G) has appointed experienced mining professional Adam Oehlman as chief executive officer.
Mr Oehlman has a strong technical and corporate background, having held senior roles with some of the world’s largest resource companies as well as commercial positions with Hancock Prospecting, Rio Tinto (ASX: RIO) and Oz Minerals.
He has also held technical roles with Northern Star Resources (ASX: NST), Billabong Gold and Gold Fields, where he gained significant experience in all stages of the mining process from exploration through to production.
Didievi resource
Mr Oehlman’s strong commercial and technical understanding of projects is expected to be valuable to African Gold as it completes a diamond drilling (DD) program at its Didievi project in Côte d’Ivoire.
The program aims to increase the project’s maiden inferred resource announced in July of 4.93 million tonnes for 452,000 ounces of gold at 2.9 grams per tonne (at a 1g/t cut-off).
The resource is the first of its kind for the project, which also comprises numerous other artisanal gold and geochemical prospects and is based on current and historical drilling data from 29 DD holes for a total of 6,945 metres and 174 reverse circulation holes for 14,923m.
Remuneration package
Mr Oehlman will assume his new role in mid-November and will be paid an annual salary of $230,000.
On commencement, he will receive 6 million unquoted options with an exercise price of $0.065, plus another 6 million unquoted options with an exercise price of $0.10.
All options will expire three years from the date of issue.
Mr Oehlman will also be entitled to participate in any future employee incentive plans.
Further management changes
Managing director Phillip Gallagher has announced he will step down at the end of the year.
Mr Gallagher has been with the company since August 2022 and played an integral role in defining the maiden Didievi resource.
Executive chair Evan Cranston and non-executive director Tolga Kumova have both agreed to take on a more active role in African Gold’s future corporate and promotional activities.