The Australian Stock Exchange-listed, Kyrgyz Republic-focused coal developer will farewell its managing director, hire a new chief financial officer and make a number of other managerial adjustments.
Celsius managing director Grant Thomas has resigned to pursue other interests, but will remain as a consultant.
Thomas was credited for his significant role in directing the company to its current position, particularly his efforts in managing the initial exploration program and announcement of a maiden JORC resource.
“The board is greatly appreciative of Grant’s leadership and wish him the best in his new endeavors,” Celsius executive chairman Alexander Molyneux said.
Matthew O’Kane has been appointed new chief financial officer, arriving with over 18 years experience in finance and accounting in Australia, Asia and the US.
O’Kane was most recently chief financial officer for SouthGobi Resources.
Current Kyrgyz country manager Alistair Muir has been promoted to the position of technical and operations director. Celsius said in the statement that Muir would join the company’s board and be responsible for managing the company’s technical development.
Muir has over 20 years in senior geological roles and leading major exploration and development projects.
Muir will be payed an annual salary of $A275,000 and receive 10 million options exercisable at 2 cents each.
The executive director of Celsius subsidiary Asia Pacific Resources, Nazariy Terlyga, has also received a promotion – to the broader role of Kyrgyz operations general manager as well as maintaining his current role.
“The road ahead of us includes the move through feasibility, project financing and development. With Alistair, Matthew and Nazariy, we have a balance of the right experience to successfully deliver on these milestones,” Molyneux said.
