Nicholson will step into the new role after holding the position of chief executive officer since April 2, 2021.
Quinlivan will immediately assume the role of a non-executive director of the company.
Thanked for contribution
Chairman Peter Mansell said “We sincerely thank David for his contribution to the company since his appointment in the role of MD and CEO at the time of the administration of Eastern Goldfields.
“It was a difficult period for the company and David really rose to the challenge. We look forward to his continued involvement with Ora Banda as a non-executive director.”
The new MD has 25 years of industry experience in operational and mine management roles, coupled with experience in private equity across companies involved in international mining and mining services.
He has had exposure to an extensive range of assets and commodities, spanning more than 50 countries and has considerable experience in leading senior multidisciplinary technical and commercial teams.
Mansell added: “Undoubtedly, we will benefit from Peter’s diverse suite of skills and his technical, commercial and operational expertise and experience, which will be a substantial contributor to the ongoing success and growth of Ora Banda.”
Nicholson holds a Bachelor of Engineering (Mining) and Graduate Diploma in Applied Finance and Investment.
Positive Iguana results
Earlier this week, the company unveiled strong initial gold results from infill drilling at Iguana gold deposit in Western Australia.
This deposit has the potential to provide additional feed for the company’s nearby Davyhurst processing plant.
In April 2021, 27 reverse circulation (RC) holes covering 3,750 metres were completed over the prospect, which forms part of the Lady Ida Project area.
As much as 1-metre at 41.3 g/t gold has been uncovered at Iguana during the campaign’s early stages, with phase one resource definition drilling now complete.
The infill campaign forms part of a broader program to upgrade and expand Iguana’s mineral resource, which currently stands at 2.722 million tonnes at 2.0 g/t gold for 175,000 ounces.
Iguana “on the right track”
Nicholson said: “The strong initial drilling results indicate that our development plans for the Iguana deposit are on the right track.
“This is a large deposit that has the potential to deliver higher-grade ore to our 1.2 million tonnes per annum Davyhurst processing plant.
“We have more work scheduled at Iguana and remain excited to see what the next round of drilling delivers to allow us to move forward with assessing the potential for material mine life extension via this deposit.”