Red 5 has announced further management changes, continuing its ongoing board renewal.
The gold miner has appointed David Coyne as its chief financial officer (CFO), taking effect from September 4. Coyne will also assume the role of joint company secretary alongside newly appointed Lisa Wynne.
The appointment comes less than a week after Red 5 announced a record year of gold production,
Coyne has over 30 years experience in the mining, engineering and construction industries in Australia and internationally.
Most recently, he served as finance director and company secretary at Spartan Resources, a West Australia-based gold mining and exploration company. Coyne will remain on the Spartan Resources’ board as a non-executive director.
Coyne has also previously held senior executive positions at Macmahon Holdings, VDM Group, Peninsula Energy, BC Iron and Consolidated Minerals, and has worked in areas such as debt and equity transactions, corporate acquisitions, and divestments.
Red 5 managing director Mark Williams said Coyne is an “outstanding addition” to the company.
“(Coyne) is well regarded across the mining industry as an accomplished chief financial officer and senior executive and brings a high-level of financial and commercial acumen, that will help us maintain a disciplined focus on cost management. David is also well versed in corporate governance and compliance matters,” Williams said.
Current Red 5 CFO Patrick Duffy will return to his previous role as chief corporate development officer.
Red 5 said Duffy was appointed to the combined position of CFO and chief corporate development officer in September 2022 to help navigate the challenges it experienced during the commissioning and ramp-up of the King of the Hills (KOTH) gold mine.
Williams thanked Duffy for serving as Red 5’s CFO and chief corporate development officer for the past 12 months.
“Patrick can now focus on capitalising on the opportunity we have created at the long-life operations now established at King of the Hills,” Williams said.