Southern Gold Ltd has announced the appointment of Metal Tiger Plc chief executive officer Michael McNeilly to its board of directors.
The appointment follows the diversified resources investment group’s recent participation in Southern Gold’s A$4 million equity raising. Metal Tiger has the right to nominate a board appointment so long as the company retains a minimum 10 per cent equity position in Southern Gold. Metal Tiger’s current equity position is 17.1 per cent.
With Mr McNeilly’s background in business, finance and the management of various listed companies, it is expected he will make significant contributions to the company’s corporate development and equity capital markets strategy.
Greg Boulton, Southern Gold chairman, said: “I am very pleased to welcome someone of Michael’s calibre to the board of Southern Gold. Metal Tiger was an excellent supporter of the last capital raising, especially given the turbulent markets due to COVID-19, and I look forward to the future strategic support that an institutional investor such as Metal Tiger can bring. They have a keen eye for an excellent new discovery opportunity and are in alignment with Southern Gold’s vision of South Korea as a very high-quality country play.”
“I am very pleased to join the board of Southern Gold,” said Mr McNeilly. “At Metal Tiger, we strongly believe in the technical and jurisdictional merits which Southern Gold have exemplified with their methodical approach to exploration as well as their team’s ability to identify, map and permit new targets in South Korea. I believe that they have a significant first mover advantage in what is a largely underexplored country for epithermal and intrusion-related gold prospects.
“I look forward to contributing at the board level and helping provide guidance with regard to corporate strategy to help ensure adequate and attractive financing to execute, what we believe will prove to be a winning formula for delivering significant value for shareholders over time as the company drills existing and new targets,” he said.