All About Mineral Explorer, King River Resources And Its Senior Management

  • Apr 08, 2019 AEST
  • Team Kalkine
All About Mineral Explorer, King River Resources And Its Senior Management

King River Resources Ltd (ASX: KRR) is a metals and mining sector company with a key interest towards the exploration and assessment of vanadium, gold and fluorspar deposits.

A Board of highly experienced directors manages the company. The Non-Executive Chairman, Mr Anthony Barton, has worked across diverse domains including corporate finance, capital markets, funds management and venture capital. He studied Business at the Royal Melbourne Institute of Technology and has also led advisory roles in the incorporation and listing of various resource companies in Australia. With 34 years of impressive corporate experience, he has also worked with boutique investment banks and Australian stockbroking firms.

The company’s Non-Executive Directors include Mr Greg MacMillan and Mr Leonid Charuckyj. Mr MacMillan is a Certified Practicing Accountant and a Chartered Company Secretary, with a Bachelor of Business degree and a wide-ranging 30 years of commercial experience in the corporate, capital markets and finance. Over the years, he has held senior positions and served as a chief financial officer, director, company secretary, as well as corporate finance executive in numerous companies operating in the mining, finance and other commercial sectors.

Besides, Mr Charuckyj also joined the company with an extensive prior expertise developed from leading engineering, technical, management and corporate roles, including senior positions, in the government, public as well as private sectors in Australia and abroad. With a Master of Engineering Science degree from the University of Melbourne, Mr Charuckyj has managed all the verticals of industrial mining from extraction and processing to product development and marketing. He has been responsible for expert engineering advisory in the Middle East representing Australia and also looked after developing and commercialising latest technologies under his portfolio of diverse roles over the years.

The company recently announced appointment of Kathrin Gerstmayr as company’s Joint Secretary.

On April 4th, 2019, King River Resources released its quarterly activities report for the period ended March 31st, 2019. The report highlights significant headways achieved for the Speewah Specialty Metals (SSM) Project studies and updates on further high-grade gold intersections identified at the Mt Remarkable Gold project, both situated in the East Kimberley of Western Australia and 100% owned by KRR.

The company is closing a Prefeasibility Study into the preliminary economics of the SSM project, and the precipitation test work is underway. While for the Mt Remarkable Gold project, the interpretation of the drill results and further study of the drill rock chips and core is ongoing.

The company has applied for a few more application licenses and expects them to be granted this year to tap into new exploration opportunities along 200-km of under-explored Whitewater Volcanics for new high-grade gold deposits.

As per the half-yearly report for the six months to December 31st, 2018, the net assets of King River Resources were valued at around $ 18.697 million including cash and cash equivalents of $ 4.15 million. The operating and investing activities resulted in net cash outflows of approximately $ 692,670 and $ 2.34 million respectively, primarily on account of payments to suppliers, employees, for extensive exploration and evaluation, and purchase of property, plant & equipment. On the other hand, the financing activities kept the position strong by generating net cash inflows of ~ $ 2.56 million.

King River Resources’ current market valuation stands at ~ $ 32.2 million with ~ 1.24 billion outstanding shares. The KRR stock settled the day’s session at $ 0.026 on April 8th, 2019.


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