This guys ARE a mining engineers with access to the best mining consultants in Australia ....... They just invested 1.1 Billion A$ into this project after doing months of due diligence.... I am going to guess they are confident this can be fixed and they have a pretty good idea on how this is going to be fixed....... Mining is hard, there is always operational risk but if you are going to invest/speculate in the space, makes sense to bet on management with a long track record of success. Super Pit is a Tier One mine and Barrick was a motivated seller... this is a good deal for both parties IMO.
SAR has taken on more risk for sure but the potential rewards are large. Pay your money and take your chances..... or not.
Good luck to all of us.
SAR
Simon Jessop – Chief Operating Officer......Mr Simon Jessop is a MINING ENGINEER with over 20 years of technical and operational experience in the mining industry covering Underground and Open pit operations throughout Australia.
Mr Jessop studied at the WA School of Mines in Kalgoorlie achieving a Bachelor of Engineering (Mining) as well as a Bachelor of Science (Mine and engineering surveying). He has worked at numerous Gold projects throughout Australia namely WA and QLD as well as base metals exposure in Nickel both at Kambalda and near Leinster. Mr Jessop was appointed in December 2017 and as COO is responsible for managing the operational aspects of Saracen's business. Prior to joining Saracen, Mr Jessop held numerous General Manager roles for Evolution Mining from the company’s inception in 2011 first as General Manager at Cracow, then General Manager for Underground operations covering Pajingo and Cracow and finally as General Manager of their Mungari operation and the broader Kalgoorlie region. Mr Jessop previously worked for Panoramic Resources as the Operations Manager leading the Lanfranchi Nickel project and was Manager of Projects in the Perth office. Before this he also worked for Byrnecut Mining as the Project Manager at Agnew and Cosmos plus various other roles throughout his tenure. Mr Jessop is the holder of a First Class Mine Managers Certificate of Competency.
Raleigh Finlayson - Managing Director Mr Raleigh Finlayson is a MINING ENGINEER with over 20 years of technical and operational experience in the mining industry in multiple disciplines including both underground and open pit operations.
Mr Finlayson commenced with Saracen Mineral Holdings as General Manager – Operations in February 2008 and managed the timely completion of the Definitive Feasibility Study and development of the Carosue Dam Operations in 2009. Mr Finlayson was appointed Chief Operating Officer in October 2009 and managed all operational aspects of the business until he was appointed Managing Director in April 2013. During his time as Managing Director, Mr Finlayson has been responsible for the acquisition and subsequent development of Saracen's second operating mine, the Thunderbox Gold Project. In this time, the business has grown from a market cap of $53m in 2008 to $2.5b in 2019. Mr Finlayson previously held positions of Underground Manager for Panoramic Resources and various mining engineering roles with OceanaGold and Gold Fields. Mr Finlayson studied at the Western Australian School of Mines and is the holder of a First Class Mine Managers Certificate and a Graduate Certificate in Applied Finance and Investment. Mr Finlayson was the recipient of the CEO Magazine Managing Director of the Year award and the Energy & Resources Executive of the Year in 2014 and was named First Among Equals at the 2018 40 Under 40 Awards.Mr Finlayson is passionate about mining education and is currently the President of the WA School of Mines Alumni.
Martin Reed - Non-Executive Director Mr Martin Reed was appointed a director on 24 August 2012. Mr Reed is a qualified MINING ENGINEER (BE Mining, Grad Dip Management, AICD Diploma) with over 35 years experience in operations management and project development across a range of commodities, countries, and sizes of operations.
SAR Price at posting:
$3.03 Sentiment: Buy Disclosure: Held
