Kevin Dundo has stepped down from his position as chair and director at Red 5 after 13 years of service.
Andrea Sutton, who served as a non-executive director since 2020, will take the role of interim chair while the board continues the search for a permanent replacement.
Sutton acknowledged Dundo’s significant contribution to Red 5.
“Kevin has provided strong leadership over a significant period, including what has been a time of great change and achievement for Red 5 since the acquisition of the Darlot and King of the Hills assets in 2017,” she said.
“This allowed the company to successfully pivot from being a Philippines gold miner to being a wholly West Australian-focused gold producer with ownership of significant gold assets in Australia and a strong growth platform for the future in the Leonora region.
“On behalf of all of my fellow Directors and the senior leadership team of Red 5, we would like to warmly thank Kevin for his valued contribution over the past 13 years and we wish him well for the future.
“We are looking forward to updating the market in due course on our board succession process, which is designed to ensure that Red 5 has the appropriate blend of skills and experience to oversee this next chapter.”
Last month, Red 5 launched an $80 million capital raise in support of its King of the Hills (KOTH) gold mine operation in WA.
Additionally, the proceeds will allow for additional working capital, creditor repayments, and growth initiatives including exploration, expansion and resource conversion drilling at KOTH.
“Following the (share) placement, Red 5 will have a strong balance sheet with financial flexibility and a robust platform for growth,” Red 5 managing director Mark Williams said.
“Studies are underway to evaluate an expansion of the KOTH process plant and open pit mine for future growth.”