IN line with Xanadu Mines’ long-standing and well-prepared succession plan Dr Andrew Stewart has been appointed managing director and will continue in the CEO role. Executive chairman Mark Wheatley has moved to the role of non-executive chairman.

Andrew Stewart was appointed Xanadu’s CEO on March 18, 2015 and prior to that had been chief geologist.

In a statement Xanadu said: “Andrew Stewart had already made significant contributions to Xanadu and his promotion to managing director and CEO is in recognition of his development, performance and leadership over the last 18 months. He will continue to be based in Mongolia until the end of this financial year or a date to be agreed and will then move to Sydney.”

About the appointment Andrew Stewart said: “I am delighted to take up this new role and work with the Board to realise the full potential of our advanced copper-gold and gold projects in Mongolia.

“I will soon be appointing a highly experienced chief geologist to ensure a seamless transition of the succession plan. This will complete a reorganisation of our exploration team in Mongolia to ensure our focus on exploration success continues and will strengthen in-country capacity to support our well-funded ongoing exploration programs across multiple projects.

“My move to Australia will assist with promotion and provide easier and more regular access to important stakeholders and capital investment markets.”

The company subsequently appointed Mat Brown as chief geologist, a role in which he will draw on his vast experience with porphyry copper-gold and epithermal gold systems. He has been an exploration geologist around the Pacific region and Australia for more than 20 years, and applies cutting edge methods of structural geology and geochemistry towards gold and base metals exploration.

He previously worked with Ivanhoe Mines for 10 years, including six years as exploration manager in Cloncurry, Queensland, and has been involved with several greenfields discoveries, including the Merlin high-grade molybdenum and SWAN copper-gold deposits, and brownfields projects at Osborne, Kulthor and Starra.

“I am delighted to take up this role and to guide the exploration team through the next phase of exploration on one of the most advanced porphyry copper exploration projects in Asia while ensuring the appropriate focus is maintained on our exciting regional exploration program at Oyut Ulaan,” he said.

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