UPDATE 12.55pm: Sirius Resources has raided the management stocks of Sandfire Resources as it seeks to ramp-up the exploration and development of its much-lauded Fraser Range project east of Norseman.
The surging explorer has poached Sandfire's De Grussa project manager Martin Reed for the position of chief operating officer, De Grussa construction manager David English to be project manager (processing and infrastructure) and consultant Bill Cunningham as marketing and offtake adviser.
Sirius' managing director Mark Bennett said the group's expertise would complement the company's existing geological team as it continued to explore the greater Fraser Range project area.
"Sirius could not ask for a better credentialed, ready-made team to develop the rapidly evolving Nova-Bollinger project," he said.
Sirius shares were off three cents to $4.47 shortly before the close of trade.
Shares in the market darling have soared from 5.7 cents in July last year to an all-time high of $4.85 this week on the back of exciting drilling results from its Nova, and now Bollinger, deposits at Fraser Range.
Meanwhile Sandfire announced it had begun a search for a new chief operating officer, with strong background and experience in operational management.
Managing director Karl Simich thanked Mr Reed for his "significant contribution" and wished him success in his new endeavours.
“With the DeGrussa operation completing its ramp-up to full production over the next few months, we see this as an appropriate time in the company’s evolution to further strengthen our management with the appointment of a new chief operating officer as Sandfire moves into its next chapter of growth," he said.Sandfire shares were up 20 cents, or 2.98 per cent, to $6.91 shortly before the close of trade.
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