Xanadu Mines Ltd (ASX: XAM, TSX: XAM) is copper and gold exploration company with several advanced projects in Mongolia’s highly mineralised and under-explored south Gobi region. Xanadu’s flagship asset, Kharmagtai, which lies 120km north of the giant Oyu Tolgoi copper-gold mine, is one of the most promising porphyry copper-gold projects in Asia.
The company also controls several other exciting exploration projects in the South Gobi including Red Mountain and Yellow Mountain.
In late 2018, Xanadu delivered an updated openpit resource for Kharmagtai of 598 million tonnes containing 1.98 million tonnes of copper and 4.3 million ounces of gold, and studies have begun on a starter pit project that is expected to pave the way for development of the broader Kharmagtai resource. There remains significant exploration potential at Kharmagtai, as evidenced by the discovery of a fourth porphyry deposit, Zaraa, at the project in 2018.
Xanadu has a highly experienced board of directors and management team with an excellent track record of discovering mineral deposits and creating value for shareholders.
Board and Management
Independent Non-Executive Chairman
Kevin Tomlinson is an experienced resources company CEO, director and financier with more than 30 years’ experience within the Canadian, Australian and United Kingdom stock markets. In Australia, he held senior executive roles with Plutonic Resources and Hartleys Australia as Head of Research.
In London, he was Managing Director of Investment Banking at Westwind Partners/Stifel Nicolaus, raising equity and providing corporate advice for many resources companies. His previous board roles include Chairman of Medusa Mining (ASX, AIM, TSX) and NED on Centamin Plc (ASX, AIM, LSE, TSX) and Orbis Gold (ASX).
Currently he is a non‐executive Chairman of ASX and TSX-listed Cardinal Resources, and Chairman of ASX-listed Plymouth Minerals. Kevin is a member of the Audit and Risk, Nomination and Remuneration, and Safety, Health and Environment Committees.
Managing Director and Chief Executive Officer
Andrew Stewart is an exploration geologist with more than 15 years’ experience in mineral exploration, primarily focused on project generation, project evaluation and exploration strategy development throughout Asia and Eastern Europe. Andrew has particular expertise in porphyry copper-gold and epithermal gold deposits, but has worked across a diverse range of commodities.
He holds a BSc (Hons) from Macquarie University and a PhD from the Centre of Ore Deposits and Exploration Studies at the University of Tasmania. During his time at Ivanhoe Mines and Vale, Andrew held various technical and management positions in Mongolia and Indonesia and has been involved in several greenfields discoveries.
After providing technical and program management for Vale in Indonesia and Mongolia, he joined Xanadu Mines as Chief Geologist, leading the gold and base metals project generation and evaluation team in Mongolia. Andrew has been Managing Director and Chief Executive Officer of Xanadu Mines since 2016, and prior to that was Chief Executive Officer.
Ganbayar Lkhagvasuren is a co-founder of Xanadu and has been a Director since 2006. He is the joint venture partner in Mongol Metals LLC, and brings a vital Mongolian perspective to the Board of Directors.
He works closely with the Managing Director in corporate development and managing the day-to-day operations in Mongolia. Ganbayar is a member of the Safety, Health and Environment Committee.
Hannah Badenach is Director Mongolia at Noble Resources International and a lawyer, having practiced for several years, including two years in Mongolia with Lynch & Mahoney.
Hannah has extensive Mongolian, commercial and business development experience, having managed QGX LLC until the company was sold in 2008, and is now developing and running Noble’s business in Mongolia.
Independent Non-Executive Director
Darryl Clark is an exploration geologist whose career has taken him throughout Australia, Central Asia and South East Asia for more than 23 years. His responsibilities over the last 14 years have involved him in a diverse range of technological, political and cultural environments with unique challenges.
During previous corporate roles with both Vale and BHP Billiton, and in consulting roles including SRK, he has been responsible for business development strategies, designing multi-commodity exploration programs and the co-ordination of exploration teams to deliver discovery events.
Currently, Darryl is the Managing Director of DGO Gold, an ASX-listed company focused on low-cost brownfield discovery in Australia. He is the Chairman of the Safety, Health and Environment Committee and a member of Nomination and Remuneration, and Audit and Risk Committees.
Marcus Engelbrecht is a well-rounded senior mining executive with both mining and exploration management experience with a strong finance background. He has worked in various emerging markets across the globe, including in Africa, South America and Southeast Asia, and brings a good network and reputation across the international institutional investment community.
Marcus has worked in the mining industry since 1985, and spent 20 years at BHP Billiton through to 2005 where he served as Chief Financial Officer for their Diamonds and Specialty Products business.
From 2009 to 2011, he served as Chief Financial Officer of ASX/TSX/NZX-listed OceanaGold, and from 2011 to 2013 he served as Managing Director of London AIM-listed and Singapore-based Archipelago Resources PLC, a gold producer in Indonesia. Subsequently he was CEO of Stratex International plc, an AIM-listed exploration company with interests in Africa and Turkey. Marcus is currently the Managing Director of Crusader Resources Ltd, an ASX-listed explorer with interests in Brazil.
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