Megado Gold - MEG(ASX) News & Expert Insights from Stockhead

Megado has five high-quality gold exploration assets covering 511km² and one licence application covering 227km² in Southern and Western Ethiopia with the geological potential to host gold deposits of significant scale.

Ethiopia is geologically highly prospective for deposits of significant scale and contains a world-class greenstone geological terrane and hosts part of the prolific Arabian-Nubian Shield.

Megado has a premium land position immediately along strike to Ethiopia’s only modern gold mines, Lega Dembi and Sakaro (+3Moz Au), covering the same fertile greenstone terrane host rocks and structural setting, in addition to an asset located proximal to Ethiopia’s next gold mine, the +1.5Moz Tulu Kapi deposit.

Megado has used satellite spectral targeting technology and field testing to identify over 50 high-priority targets in its project areas; and has assembled a strong team with considerable Ethiopian, gold and exploration experience.

KEY PEOPLE

Michael Gumbley | Managing Director and CEO

Michael holds qualifications in Commerce (Sydney), Bachelor of Science in Foreign Service from Georgetown University, Washington, DC, USA and has a Masters of Political Science from the Sorbonne University, Paris. Michael has over 18 years of international finance experience as Chief Financial Officer and Operations Financial Manager with aid and not-for-profit organisations. Michael has a deep understanding and experience in negotiating, collaborating and delivering projects in developing nations across Africa and Asia, including in Ethiopia, where he collaborated with local partners, government, and other institutions to successfully deploy over US$60 million in developing more than 6,000 charitable water projects.

Dr Chris Bowden | Executive Director

Chris is a geologist with over 20 years experience in the mining industry globally, with a strong technical focus on front-end discovery and deposit delineation. Previously Chris was Exploration & General Manager for ASCOM Precious Metals Mining, working throughout north-east Africa, where Chris discovered and subsequently delineated the initial >1.5Moz Dish Mountain Gold Deposit in Ethiopia; and lived for 5 years. Other key roles previously include: Exploration Manager for Southern Gold Limited (ASX: SAU; and a key team member of Ivanhoe Mines (TSX:IVN). Chris has a PhD in Economic Geology, as well as postgraduate qualifications in mineral finance and economics. Chris is a Fellow & Chartered Professional of the AusIMM, and Fellow of the SEG.

Bradley Drabsch | Non-Executive Chairman

Brad is a qualified geologist with over 20 years’ experience in the mineral exploration industry. Mr Drabsch has acted as Managing Director, Director and Exploration Manager along with technical roles in his earlier career. Previously Brad was Managing Director of Trek Metals Ltd (ASX:TKM) and a founding Director of Centrepeak Resources Group Pty Ltd (CRG). Brad has previously worked for Doray Minerals Ltd (ASX:DRM), Montezuma Mining Company Limited (ASX:MZM), Duketon Mining Ltd (ASX:DKM), Ivanhoe Mines Ltd (TSX:IVN) and Independence Group NL (ASX:IGO). Mr Drabsch is currently Managing Director of Western Australian focussed gold explorer DiscovEx Resources Ltd (ASX:DCX) and a Technical Director of High Grade Metals Ltd (ASX:HGM).