Gold Mountain board loads up on wisdom as PNG play progresses

Special Report: Gold Mountain Limited has significantly bolstered its executive director team, appointing a pair of familiar names in Tim Cameron and Tony Teng.

As Gold Mountain (ASX:GMN) advances its highly prospective Wabag gold project in Papua New Guinea while ramping up exploration activity, it has announced the invitation for Cameron, currently CEO, to join the board as an executive director.

Cameron has over 30 years’ experience in project development and management throughout various roles in Canada, Australia, the United States and PNG, including involvement in BHP’s Etaki diamond mine in Canada.

At Etaki, he was part of the team which saw the project through from exploration to full operation. Speaking with Stockhead recently, GMN part-time advisor, substantial shareholder, and former Rio Tinto executive Matt Liddy was complementary of Cameron’s work.

“As part of coming onboard I got to know the GMN team. I met Tim and was impressed by him – he’s come from that background with BHP, which is great, and he’s also very hands on,” he said.

“I believe Tim is implementing a vision to build long-term shareholder value at Gold Mountain by targeting multiple copper-gold porphyry opportunities. This includes not only the potential for near term encouraging outcomes from the current Monoyal drilling program, but also the potential from exploration of the other targets on the Wabag tenements”.

GMN’s current managing director, Teng will also transition into the same role, joining Cameron as an executive director.

GMN offered its thanks to Teng for his critical role in guiding the company through its last six years, including significant contributions to securing funding for the company’s PNG interests.

“The board looks forward to continuing to work with Mr Teng in his role as executive director,” it said.

Gold Mountain Wabag — Gold Mountain brings substantial experience to its executive board. Pic: Karate Kid (1984), Columbia Pictures.

Advancing PNG operations

This board announcement is the latest in a suite of news from GMN, which recently completed a significant capital raising to progress its exploration activities in PNG.

In PNG, GMN holds the Wabag copper-gold project in the Papuan Mobile Belt – an area rich with mineral deposits including world-class mines such as Grassberg, Ok Tedi and Panguna.

The project sits some 70km from the 24-million-ounce Porgera gold mine and covers three highly prospective targets in Monoyal, Mt Wipi and Sak Creek.

Each target is located on a separate tenement – a feature Liddy was particularly complementary of in conversation with Stockhead this week – and has the potential to host large-scale copper-gold-molybdenum mineralisation within the same north-west – south-east striking structural corridor.

GMN’s porphyry expert, Phil Jones was recently interviewed by Stockhead’s Barry FitzGerald on the porphyry potential of Wabag in an episode of The Explorers Podcast. You can listen to that conversation here.

This article was developed in collaboration with Gold Mountain, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.