New MD appointed at Wolf Minerals

Leadership transition sees interim managing director Richard Lucas appointed as managing director

THE board of Wolf Minerals Ltd has announced that interim managing director Richard Lucas has been appointed as managing director with effect from 21 March 2018.

Mr Lucas was appointed as interim managing director on 7 April 2017 as part of the leadership transition and the need for a greater on-site executive team commitment to ensure the long-term successful operation of the Drakelands tungsten mine, near Plymouth, in Devon.

Since assuming the interim role and moving to the UK, Mr Lucas has initiated and is successfully executing a comprehensive operating turnaround plan that has resulted in strong improvements in concentrate production and sales, as well as operational reliability and performance.

In addition, as part of the company’s transition to profitability, he is leading the asset optimization at Drakelands Mine and has been effective in securing funding for ongoing operations and organic growth. He has also developed strong local partnerships to support long-term sustainability.

John Hopkins, chairman of Wolf Minerals, said: ‘The board is delighted with the progress of Richard and his team over the last 12 months. We have the upmost confidence in Richard’s leadership and look forward to his future contribution to the growth and the advancement of the company.’

Mr Lucas joined Wolf Minerals in April 2011 as chief financial officer and company secretary. He is a chartered accountant with more than 19 years of financial experience in various sectors, including mining, construction, property development and professional services.

In his role as Wolf’s chief financial officer, he was responsible for the establishment of the Group’s integrated finance function and has been instrumental in managing all elements of the company’s equity financings, managing relationships with off-takers as well as co-ordinating and managing the company’s debt.

Prior to joining Wolf, Mr Lucas reached a senior level at PwC, was seconded to Lihir Gold as commercial manager to manage the accounting and finance function, and was chief financial officer at Geotech Group.