NEW MANAGING DIRECTOR FOR PANAUST

NEW MANAGING DIRECTOR FOR PANAUST

PanAust Limited (ASX:PNA) has promoted Fred Hess to the role of managing director, succeeding long-time boss Gary Stafford with 18 years at the helm.

Hess has been with the copper and gold producer for nine years in numerous executive roles, most recently in charge of EGM project development and operational improvement.

He has more than 30 years’ experience working in the mining industry in Australia and overseas, and was a driving force behind PanAust’s operations at Phu Kham and Ban Houayxai in Laos.

Hess says it’s an honour to be selected to lead the company through its next generation of mining projects.

“The whole executive management team and all other employees should be proud at what we have developed at PanAust under Gary Stafford’s leadership,” he says.

“Our vision and values will remain unchanged. We will continue to strive to achieve the high standards established under Gary through both our existing operations and future growth opportunities, in particular the Frieda River Project.”

PanAust owns 80 per cent of the Frieda River Project, while the remainder belongs to Highlands Pacific Limited.

The project’s feasibility report is due late next year, with construction on the mine expected to commence in 2019.

PNA chairman Garry Hounsel thanked Stafford for all his achievements during his tenure and says the board was unanimous during Hess’ appointment.

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