Tolu Minerals Limited (ASX: TOK, OTCQX: TOLUF) has announced that the contract of its foundation Managing Director and CEO, Mr Iain Macpherson, will not be extended beyond November 9th of this year. Tolu Minerals is focused on gold and base metals exploration and development in Papua New Guinea. The company is preparing to restart the Tolukuma Gold Mine.
The Board of Tolu Minerals expressed its gratitude for Mr Macpherson’s contributions in preparing for the restart of the Tolukuma Gold Mine and raising Tolu’s profile globally. They wished him well in his future endeavours. The company highlighted that this is a critical time in its development as it prepares for a substantial increase in exploration and resource definition leading into production.
To lead Tolu through its next chapter, the company announced the appointment of its Executive Chief Geologist, Dr Chris Muller, as the new Managing Director and CEO. Dr. Muller brings over 25 years of global mining and exploration experience across underground, open pit, and surface operations. His experience includes mine restarts, resource development, and discoveries.
Dr Muller’s career includes roles with Ivanhoe Mines and Glencar Mining, as well as senior positions in Papua New Guinea. He played a role in mine restarts in PNG, including the Simberi Gold Mine and Kainantu Gold-Copper Mine. He also contributed to the discovery of the Kora North deposit. Details regarding Dr Muller’s remuneration and other rights will be disclosed closer to his commencement date as Managing Director and CEO.
