Mineral explorer, Dominion Mining (DOM) has appointed a new managing director on Friday, prompting the stock in the company up by as much as 6%.
The board has appointed Australian mining executive, Jonathan Shellabear, as managing director of the company effective from 1 February.
Dominion's long-serving incumbent managing director, Peter Alexander, has announced his decision to retire from executive duties but will remain on the board as a non-executive director.
Jonathan Shellabear is a senior executive with extensive experience in the Australian and international mining industries, having held senior corporate roles with a number of major companies.
Dominion's chairman, Peter Joseph said, "Jonathan Shellabear's appointment marked an exciting new phase for Dominion, as the company continued to build its gold resource and reserve inventory at Challenger and further develop its significant regional exploration programme, financed by the strong cash flows generated by the Challenger gold mining operation.
Shares in DOM gained 16 cents to $4.47.
