Former Grange Resources boss Russell Clark has been named the new chief executive of Guyana-focused explorer Azimuth Resources.
Mr Clark left Grange in July last year, four months before the company officially shelved its $2.9 billion Southdown magnetite project near Albany.
Mr Clark said he was looking forward to the opportunity of leading the Azimuth team and further developing its flagship West Omai project in Guyana.
"We currently have a shallow, high grade resource and we know that the area remains underexplored. The land package put together by Azimuth in Guyana is second to none and I am confident of future exploration success in the area," he said.
Azimuth shares were up one cent, or 3.18 per cent, to 32.5 cents at 8.30am.