Hillgrove Resources announces new Managing Director

Hillgrove Resources Limited (ASX: $HGO) has appointed Bob Fulker as the new Managing Director, effective from 1 July 2024. Fulker, with over 35 years' experience in the mining industry, will succeed Lachlan Wallace, who will resign from the Company and the Board for personal reasons.

Chair's Comments on New Appointment

The Chair of Hillgrove, Derek Carter, expressed the Board's satisfaction with Bob Fulker's appointment, citing his extensive experience and operational excellence in the mining industry. Carter also thanked Lachlan Wallace for his leadership in driving the Company's growth over the past 5 years, particularly in the successful delivery of the Kanmantoo underground copper project.

Outlook and Remuneration Details

Bob Fulker, the incoming Managing Director, expressed his excitement about Hillgrove's future, highlighting the commencement of the underground operation, prospective exploration opportunities, and the Company's growth prospects with strong cash generation anticipated. The announcement also outlined the key terms of Mr. Fulker's remuneration, including his total fixed remuneration, short-term and long-term incentives, and termination terms. The Company also mentioned the subject to shareholder approval for the initial 5 million performance rights under the Company's Options and Performance Rights Plan (OPRP) with vesting conditions linked to a two-year tenure period from commencement.