JOHANNESBURG (miningweekly.com) – Graphite miner StratMin has appointed Brett Boynton as CEO and executive director with immediate effect.
StratMin MD Manoli Yannaghas would step down from the board of directors with immediate effect.
The Aim-listed company, which owns the Loharano mine, in Madagascar, noted in a statement on Tuesday that, under Yannaghas' guidance, the company had successfully transitioned from a project developer to a commercial operator.
“We thank Manoli for his commitment to the company, bringing it to its current stage of development as a stable graphite producer with strong foundations for growth,” commented chairperson Laurie Hunter.
He added that he was delighted that Boynton had accepted the invitation to become CEO. “He is highly experienced and has impressive contacts in the industrial minerals space. I believe he has the drive and ability to take StratMin to the next stage of development and I am confident that he will make an excellent CEO.”
Boynton, who is an experienced corporate financier with expertise as an investment banker in capital markets, mergers and acquisitions and private equity, has an undergraduate degree in Economics and Accounting from the University of Cape Town and an MBA from the Fuqua programme at Duke University, in the US.
He has significant international finance experience as a senior banker with UBS and Credit Suisse in London, New York and Sydney.
He left investment banking in 2010 and has since funded and founded a number of Australian resources companies.
“I am very excited to be joining StatMin and working with the team to build a leader in the global graphite space. The company is in an enviable position as one of very few graphite plays actually in production. This is an excellent platform for growth. The quality of the asset and now proven low operating cost environment in Madagascar will give us a sustainable advantage over other graphite developers.
“Our initial focus will be on further optimisation of the current operation but we are already working on expansion opportunities. The Australian market is really focused on graphite at the moment with successful companies achieving excellent valuations. I will be taking the StratMin story to this audience to diversify the London shareholder base,” said Boynton.