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Highlights
- King River Resources has appointed Graham Gadsby as Managing Director, effective from 14 October 2025.
- Gadsby is credited with leading Spartan Resources’ turnaround, relisting on the ASX, and the discovery of the Never Never and Pepper gold deposits.
- King River will issue 100 million performance rights to Gadsby, subject to shareholder approval.
- KRR shares were trading 13.33% higher at AUD 0.008 per share on 5 September 2025.
King River Resources Ltd (ASX:KRR) has appointed Graham Gadsby as its new Managing Director, effective 14 October 2025. Gadsby is an accomplished senior executive and geologist.
Gadsby brings significant exploration and operational experience, having worked at Spartan Resources Limited for seven years in senior roles, including General Manager Operations and Chief Geologist. During his tenure, he played a pivotal role in the exploration and development of the gold projects in Western Australia.
During his tenure at Spartan Resources, he played a pivotal role across multiple areas of the business. He applied his hands-on experience and leadership to steer the company through a successful turnaround, which enabled its relisting on the ASX after a challenging period. He later assumed responsibility for managing exploration programs that delivered the significant discovery and rapid development of the high-grade Never Never and Pepper gold deposits. These discoveries proved critical in securing the company’s future and its subsequent merger with Ramelius Resources.
At King River, Gadsby brings a valuable combination of exploration and operational expertise, having worked on projects from early-stage exploration through to full-scale production. His leadership and deep industry knowledge are expected to guide the company’s growth and future strategy.
Performance Rights
King River will issue 100 million performance rights to Mr Gadsby (or his nominee). Each right will convert into one share upon satisfaction of performance and service conditions.
The performance condition requires that by 30 November 2028, either:
- the volume-weighted average price (VWAP) of King River’s shares trades at 2.5 cents or higher for 20 consecutive trading days, or
- a takeover event occurs.
Additionally, the service condition requires Mr Gadsby (or his representative) to remain engaged as an employee or director until the condition is met. The issuance of these performance rights will be subject to shareholder approval, sought at the 2025 AGM.
KRR Shares Rally
Triggered by the update, KRR share price surged by 13.33% to trade at AUD 0.008 per share at the time of writing on 5 September 2025.
