Mitford Mandel was appointed as the CEO of Africa-he has a large number of operations in several of the largest mines in Africa (including Harmony Gold, De Beers Mining and Anglo American) Management and operation experience;
Jacques Du Triou was appointed as the African COO-he has more than 28 years of underground and open-pit mining and management experience in the South African mining industry, including 17 years of Harmony Gold work experience;
Both of them have valuable experience in project execution, successful implementation and operational optimization. Together, they will help Theta grow from an explorer to a developer, and then become an efficient low-cost gold producer.
Mr. Mundell has a lot of experience in the mining industry. He is particularly good at asset optimization, strategic planning, stakeholder management, project construction and change management in open-pit and underground mines. He has worked and consulted for the largest gold mining companies in Africa such as Harmony Gold, De Beers Mining and Anglo American Resources.
Harmony is the largest gold producer in Africa. Mandel started as a miner and gradually promoted to shift supervisor, mine manager, mine manager, general manager and business coach. Mandel was once the mine manager of Kalgold, Hamoni's open-pit mining project in South Africa. He was responsible for trial production of multiple mines and established a mine in Harmony as the lowest cost production mine in the group.
Mandel’s most recent position was CEO of Namakwa Diamonds, leading the trial production and expansion of the Kao Diamond mine. The successful implementation of his new concentrator enabled Namakwa to turn losses into profits, increase the concentration of the concentrator and extend the mine service life of 3 years to more than 20 years, and triple the value of the company.
Jacques du Triou has more than 28 years of experience in the mining industry in South Africa, covering all stages of the mine’s life cycle. He is good at project and financial valuation, construction, mine expansion, risk assessment, due diligence, execution and commissioning to full speed production.
His mining experience first started with Harmony and was finally promoted to general manager (2009-2015). During this period, he led the more in-depth development of the Doornkop South Reed project. The capital cost from the feasibility study to the peak production was approximately A$990 million. He was also heavily involved in Harmony's kalgold project.
After Harmony, Jacques founded Qmotion Mining. As the managing director, he developed and implemented business strategies to establish the company as a successful outsourcing service company. Qmotion successfully provided outsourcing services for Evander Gold Mine, Sibanye Stillwater, Anglo Platinum, Royal Bafokeng Platinum and Murray & Roberts Holdings.
Both executives have rich and reliable records in project development and project delivery. The appointment of Mr. Mandel and Mr. Du Triou strengthened the company's national/regional operations team, and their skills are in line with the company's recent development and upcoming production activities.
Chairman Bill Guy (Bill Guy) said:"The appointment of Mitford and Jacques is a major decision for Theta. They all have strong skills and mature experience in the South African mining industry, which are very suitable for our requirements, especially when we transition from a mine developer to a low-cost gold producer. Mr. Mundell has been cooperating with Sita for the past four months and has closely evaluated our projects-which proves that it is the mineral resources and project potential of Sita that can attract such high-end talents.
"Mitford and Jacques have both played important roles in all levels of the mining industry, and are good at open-pit mining and underground mining. This is very important to the development of our project, because it allows the company to develop in open-pit mines. While working, look for underground mining opportunities with existing mining rights. This will also enable the company to further confirm and possibly extend the life of its mines, optimize existing projects, and consider multiple options and plans for producing 6 million ounces of resources .
Theta Gold has considerable selectivity based on our huge assets, and its upward value is huge. When our company enters a very exciting development stage, our focused and systematic approach should bring more positive progress to mine development activities. We are waiting for the results of many recent major events, which may become major milestone events.
Mitford’s compensation plan includes 4,100,000 share incentive plans and performance options. Du Triou’s compensation plan includes 2,460,000 incentive plans and performance options. Both business performance are related to the successful development and operation of the company's Theta project. Performance options will be issued on October 1, 2020.
