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Yahoo
29-05-2025
- Business
- Yahoo
Westgold appoints Ivan Mullany as Independent Non-Executive Director
PERTH, Western Australia, May 29, 2025 /CNW/ - Westgold Resources Limited (ASX: WGX) (TSX: WGX) – (Westgold or the Company) is pleased to announce the appointment of Mr Ivan Mullany as an Independent Non-Executive Director to the Board, effective immediately. Mr. Mullany (BSc, Majoring in Extractive Metallurgy, CIMM, FAusIMM), has over 35 years in mining project management with broad international experiences. Most recently, with Newmont Corporation and its predecessor Goldcorp Inc. on the Senior Leadership Team, Mr. Mullany led numerous major projects, collectively in excess of $18 billion, during the engineering study, construction and execution stages. In Australia and most recently, Mr Mullany was appointed Chair of the Hemi Gold Project Committee at De Grey Mining Limited (ASX:DEG), where he provided strategic oversight of the Project Execution Plan for the proposed Hemi development, prior to the takeover by Northern Star. Mr Mullany is currently a Non-Executive Director of Nexgen Energy Ltd and is a Fellow of the Australian Institute of Mining and Metallurgy. Westgold Non-executive Chair Hon Cheryl Edwardes AO commented: "Westgold is delighted to welcome Ivan to the Board. Ivan is a great cultural fit and his extensive operational and project delivery experience will significantly strengthen our Board and strategic planning processes. Our leadership team will directly benefit from his operational excellence background as this is a key to unlocking greater productivity and increasing free cash flow from our expansive Western Australian gold portfolio." This announcement is authorised for release to the ASX by the Board. SOURCE Westgold Resources Limited View original content to download multimedia:
Yahoo
20-05-2025
- Business
- Yahoo
Northern Star completes $192m on-market share buyback
Australian gold mining company Northern Star Resources has announced the completion of its inaugural on-market share buyback programme, valued at A$300m ($192m). The programme, which began on 15 September 2022, resulted in the acquisition of 27.17 million shares at an average price of A$11.04 per share. The total number of securities on issue in the class of securities to be bought back stood at 1.43 billion in September 2022. The maximum number of securities proposed to be bought back was 39.52 million. The buyback initiative is part of Northern Star's strategic approach to capital allocation, aimed at maximising shareholder value. This approach includes a commitment to returning cash to shareholders, investing in organic growth that promises profitability and sustaining a robust balance sheet. The share buyback programme is designed to work in tandem with the company's dividend policy, which has a payout target of 20–30% of cash earnings. The board is assessing all forms of capital management to create 'superior' returns for shareholders. Northern Star managing director Stuart Tonkin said: 'I am pleased that we have completed our $300m share buyback programme. The average purchase price of $11.04 per share demonstrates our disciplined approach to value creation for all our shareholders.' In its first-quarter report, the company announced that it has a robust investment-grade balance sheet and is equipped to fund its organic growth strategy. Despite a dividend payment of A$279m, the net cash position remains at A$181m, with a total of A$1.12bn in cash and bullion in the March quarter of 2025. Earlier this month, Northern Star completed the acquisition of gold mining company De Grey Mining through a court-approved scheme of arrangement. "Northern Star completes $192m on-market share buyback" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
