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    MGT   AU000000MGT5

MAGNETITE MINES LIMITED

(MGT)
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Magnetite Mines Limited Names Peter Schubert as Interim Chief Executive Officer

03/15/2021 | 11:47pm EDT

Magnetite Mines Limited announced that Mr. Peter Schubert has been appointed as interim Chief Executive Officer (CEO). Mr. Peter Schubert has agreed to take on a role as Interim CEO of the company (in addition to his current role as Executive Chairman). Mr. Schubert was appointed Chairman on 3 September 2018 and since the departure of the previous CEO in September 2018, the Board has temporarily undertaken the responsibilities of the position of CEO. In the last 18 months, the Company, led by Mr. Schubert and the Board, has set out a clear vision for the development of Razorback High Grade Iron Ore project, raised funds to progress the PFS programme and has seen a significant revaluation of the business. In view of this progress and the central contribution by Mr. Schubert, the Board has decided to appoint Mr. Schubert as Interim CEO in addition to his role as Executive Chairman with effect from 1 January 2021. It is intended that Mr. Schubert will continue to act in this role during the study and financing phases of Razorback High Grade Iron Ore project development. It is proposed that Mr. Schubert's existing executive employment contract be changed to reflect his additional role and responsibilities, as well as his contribution to the success of the Company.


ę S&P Capital IQ 2021
All news about MAGNETITE MINES LIMITED
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05/23Magnetite Mines Limited Announces Update from Razorback Iron Ore Project Mineral Resour..
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05/07MAGNETITE MINES : Raises $5.5 Million for Razorback Iron Ore Project in South Australia; S..
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03/15Magnetite Mines Limited Names Peter Schubert as Interim Chief Executive Officer
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03/15Magnetite Mines Limited Names Mark Eames as Technical Director
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03/09Magnetite Mines Widens Loss in July-December 2020 on Higher Employee Benefits Expenses
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03/08Magnetite Mines Limited Reports Earnings Results for the Half Year Ended December 31, 2..
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03/01Magnetite Mines Receives Grant of Muster Dam Iron Project
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More news
Financials
Sales 2020 - - -
Net income 2020 -0,37 M -0,27 M -0,27 M
Net Debt 2020 1,25 M 0,90 M 0,90 M
P/E ratio 2020 -9,20x
Yield 2020 -
Capitalization 75,5 M 54,8 M 54,6 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 91,2%
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Managers and Directors
Peter Schubert Executive Chairman & Chief Executive Officer
Frank DeMarte Chief Financial Officer & Secretary
Mark Richard Eames Technical Director
Malcolm Roger Joseph Randall Independent Non-Executive Director
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