Ora Banda (ASX:OBM) shares shoot up 26% on new CEO’s appointment

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Ora Banda (ASX:OBM) shares shoot up 26% on new CEO’s appointment

 Ora Banda (ASX:OBM) shares shoot up 26% on new CEO’s appointment
Image source: © Andreyyalansky19 | Megapixl.com

Highlights

  • Ora Banda Mining has appointed Mr Luke Creagh as Chief Executive Officer of the Company with immediate effect.
  • Mr Creagh has around 20 years of experience working with contracting as well as mining companies.
  • OBM believes that the appointment of Mr Creagh is important as he can guide the Company through its ongoing operational reset plan.

Shares of Ora Banda Mining Limited (ASX:OBM) skyrocketed by ~26% after the Company announced  a significant addition to its leadership team. OBM has appointed Mr Luke Creagh as Chief Executive Officer of the Company effective immediately. OBM shares traded at AU$0.038 per share on 04 July 2022.

Also Read: Ora Banda (ASX:OBM) identifies new drill targets at Callion; drill planning underway

Previous engagements of Mr Creagh

Mr Creagh brings with him around 20 years of experience, having engaged in contracting as well as mining companies at projects across Australia and overseas.

Most recently, Mr Creagh has been working as the Chief Operating Officer (COO) of Northern Star Resources Limited. Prior to this in 2018, Mr Creagh had held several senior positions within Northern Star.

Before Northern Star, Mr Creagh was the Operations Manager at Barminco Limited.

RELATED ARTICLE: Ora Banda (ASX:OBM) moves ahead with Stage One of ORP, shifts focus to Missouri open pit

Mr Creagh holds a Bachelor of Engineering (Mining) from the University of Queensland as well as Western Australian first-class mine manager’s certificate.

OBM believes that the appointment of Mr Creagh comes as a significant fillip for the Company.

RELATED ARTICLE: Ora Banda (ASX:OBM) prepares to gain ground after a strong March quarter

Source: OBM Announcement 04/07/2022

RELATED ARTICLE: Ora Banda (ASX:OBM) closes AU$20 million equity raising

OBM thanks outgoing interim CEO

Earlier to Mr Creagh’s appointment, Mr Andrew Czerw had been working as the interim CEO of OBM for the past three months.

Recognising the efforts of Mr Czerw as the interim CEO, the company has granted him the following incentives in accordance with OBM’s Employee Incentive Plan and vesting conditions:

  • Five million performance rights where Mr Czerw is an OBM employee on 30 June 2023, and
  • Five million performance rights where Mr Czerw is an OBM employee and the VWAP of OBM’s shares is equal to or greater than AU$0.035 for the ten trading days prior to 30 June 2023.

Mr Peter Mansell, OBM’ Chairman, thanked Mr Czerw for crucial contribution as interim CEO of OBM. He further added:

“Andy, at short notice, made himself available to take on the role of Interim Chief Executive Officer and has initiated and guided the Company through the operational reset plan. We cannot thank him enough for his hard work and commitment.”

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