QMines appoints Genex Power co-founder to board of directors
Genex Power co-founder Simon Kidston has replaced QMines chairman Andrew Sparke, effective immediately.
Australian junior explorer QMines (ASX: QML) has appointed skilled and respected mining executive Simon Kidston to the role of non-executive chairman of the board, effective immediately.
Mr Kidston replaces executive chairman Andrew Sparke, who will now move into the role of managing director.
Mr Kidston is a director and co-founder of Genex Power (ASX: GNX) and has been instrumental in securing funding, permits and construction plans for the company’s diversified portfolio of renewable energy assets in Queensland and New South Wales.
The $1 billion portfolio comprises two operating solar farms, the Kidston 250-megawatt pumped hydro project (currently in construction), the 50MW Bouldercombe battery project (currently in construction), and a 258MW wind farm (under development).
In addition to his role with Genex, Mr Kidston serves as a non-executive director of Lithium Plus Minerals (ASX: LPM) and Toronto-listed QC Copper & Gold Inc, and as chairman of premium private carbon credit developer Permagen.
Skilled and respected
Mr Sparke said the company is pleased to have appointed Mr Kidston to the QMines team.
“Simon is a proven business builder and value creator his passion for renewable energy and growing businesses sustainably has many parallels to our own growth plans,” he said.
“He has guided a number of businesses to cashflow, taken them through the permitting and approvals process and has deep connections in Queensland… we welcome him to the company and know he will make a valuable contribution for all shareholders.”
In his new role, Mr Kidston will receive $90,000 remuneration plus superannuation.
Performance rights with associated milestones are yet to be agreed and will be subject to shareholder approval.
Mr Sparke’s remuneration will remain on the same terms as his existing contract.
Electromagnetic survey
In January, QMines confirmed the launch of an airborne electromagnetic survey over its flagship Mt Chalmers copper-gold project in Queensland.
The 1,814km survey is designed to identify further volcanogenic massive sulphide (VHMS) deposits within the prospective Beserker Beds target and provide new information to help guide future exploration.
Preparation for the survey involved extensive advertising and consultation with the local community.