Karora Resources Inc. (TSX: KRR)

Announced the appointment of Mr. Tony Makuch to the role of Special Advisor to the Corporation.

Mr. Makuch brings extensive gold industry management, technical and operating experience, most recently as former CEO and director of Agnico Eagle Mines Limited.

 

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Karora Resources	TSX: KRR
Stage	Production + Development + Exploration
Metals	Gold + Nickel
Market cap	C$924 million @ C$6.00
Location	Kalgoorlie, Western Australia

 

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Comment

This appointment is highly significant in my opinion, Tony Makuch has been associated with the growth of several successful mining companies in the past, with Kirkland lake being his last company.

I like Karora because of the production and exploration potential of not only the gold, but also the nickel, where in normal times this offers the safety of one or other going up if the other falls, as they belong in opposing sectors.

They are achieving stated objectives, are located in a world class jurisdiction close to Kalgoorlie, and look set to achieve shareholder growth in the future.

This appointment validates the potential for Karora in my view.

 

 

Mining Veteran Tony Makuch Joins Karora Team as Special Advisor

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.TORONTO, May 9, 2022 /CNW/ – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce the appointment of Mr. Tony Makuch to the role of Special Advisor to the Corporation.

Mr. Makuch brings extensive gold industry management, technical and operating experience, most recently as former CEO and director of Agnico Eagle Mines Limited.

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“The Board of Directors and Paul’s team at Karora have done an excellent job in both growing the operational base and building significant value for shareholders.

 

“I look forward to working with Paul and supporting him in the next stages of the strategic growth for Karora.”

Tony Makuch

 

Tony Makuch background and experience

Tony Makuch has over 35 years of mining industry experience and was previously President, CEO and Director of Kirkland Lake Gold Ltd (“Kirkland”).

During his five-year tenure as CEO of Kirkland, Mr. Makuch led the transformation of the company, with annual gold production increasing from 315,000 oz to over 1,400,000 oz, the market capitalization of the company increasing from approximately $1 billion to over $13 billion and Kirkland’s share price increasing over 530%.

These milestones were achieved on the back of two successful acquisitions, industry-leading operational performance and significant exploration success and ultimately culminated in Kirkland’s merger with Agnico Eagle Mines Limited in 2022.

Prior to joining Kirkland, Mr. Makuch was President and CEO at Lake Shore Gold Inc., from 2008 until its acquisition by Tahoe Resources Inc. in 2016, when he became the Executive Vice-President and President of Canadian Operations.

From 2006 to 2008 Mr. Makuch was Senior Vice President and Chief Operating Officer for FNX Mining Company Inc. From 1998 to 2005 he held progressively senior positions with Dynatec Corporation, including VP Operations. From 1992 to 1998, Mr. Makuch worked with Kinross Gold Corporation at a number of their Canadian operations.

Mr. Makuch is a Professional Engineer (P.Eng) and holds a Bachelor of Science Degree (Honours Applied Earth Sciences) from the University of Waterloo (Ontario), and both a Master of Science Degree in Engineering and a Master of Business Administration from Queens University (Ontario) and has obtained the Institute of Corporate Directors ICD.D designation from the University of Toronto Rotman School of Business.

 

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions about Karora Resources, I will be delighted to assist – Please email andrew@city-investors-circle.com

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Disclosure

At the time of writing the author owns shares in Karora Resources, bought in the market at the prevailing price on the day of purchase.

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