Magnetite Mines Limited (ASX: MGT) today announced the appointment of Simon Smith as Chief Financial Officer, commencing in September 2023.
Simon is a highly accomplished CFO and Company Secretary with extensive experience in both ASX and TSX listed companies. He has played a pivotal role in the leadership and strategic direction of growth-driven companies, effectively driving their financial success. Simon has successfully led the execution of capital raisings totalling over A$500 million, encompassing both debt and equity financing, as well as initial public offerings (IPOs).
Simon is a member of the Australian Institute of Chartered Accountants and was most recently the CFO of Energy Action Limited. Prior to that, he was CFO and Company Secretary of ASX-listed Heron Resources Limited, overseeing the $340 million project financing and commercial development of the Woodlawn Zinc Copper Mine in NSW through to full scale operations.
Mr Smith commented:
“I am delighted to join Tim and the team at Magnetite Mines and am eager to repeat my recent experience in bringing Woodlawn from exploration through to financing and commercial production with Razorback. Having lived in South Australia in my formative years, I am keen to take part in the development of a new mining province and green iron industry that will be transformational for South Australia.”
Magnetite Mines CEO Tim Dobson commented:
“We are extremely happy to welcome Simon into the Magnetite Mines executive team at an exciting time for the Company. Having recently crystalised our expansive Ore Reserves position and optimum base case Project configuration for the development of Razorback, Simon’s comprehensive skillset and experience will be essential as the company enters the crucial next stage of development.”