The board of Oar Resources Limited announced the appointment of Mr. Paul Stephen as chief executive officer, effective immediately. Mr. Stephen has a Bachelor of Commerce degree from the University of Western Australia, has held directorships across both ASX and London Stock Exchange listed companies, and has a strong knowledge of operations and compliance across multiple jurisdictions. Mr. Stephen was the co-founder and Executive Director of Crusader Resources Ltd, where he oversaw the discovery, development and operations of the Posse Iron Ore mine in Brazil.

In addition, Mr. Stephen managed the discovery and delineation of over 2.6 million ounces of gold for Crusader while operating in Brazil, resulting in the company achieving a market valuation of more than AUD 160 million.