Luke Tonkin

Miner Mount Gibson Iron has reached a $US30 million settlement with former customer Sinom, after Sinom did not accept scheduled shipments last year.

The boardroom battles at Mt Gibson Iron took a strange twist this week, with the ASX’s web site apparently showing that the three directors who opposed the recent election of new chairman Geoff Hill had resigned from the board.

Mount Gibson Iron has announced the appointment of two new directors as the company’s board grapples with a continuing rift over the independence of its chairman Geoff Hill.

One day after being praised by chairman Geoff Hill at the company’s annual meeting, iron ore miner Mount Gibson Iron has announced that managing director Luke Tonkin will step down from the role.

The controversy over director independence at Mount Gibson Iron has taken another surprise twist, with a majority of the board resolving that one of its existing members should be reclassified as independent.

Mount Gibson Iron chairman Geoff Hill has secured final control of the iron ore miner's board, after the last of his critics, Craig Readhead, resigned today.

Iron ore miner Mount Gibson Iron has declared its maiden interim dividend, despite production problems at its mines and a slump in interim profit.

Paladin Energy has appointed former Mount Gibson Iron chief financial officer Alan Rule to replace Garry Korte, who has been poached by Gina Rinehart’s Roy Hill Holdings, a subsidiary of Hancock Prospecting.

Former Mount Gibson Iron chief executive Luke Tonkin is taking the helm of gold hopeful Reed Resources.Reed, which is ramping up its Meekatharra gold project to production by the December quarter, announced today that Mr Tonkin would take on the role of managing director.

LOOKING at the remuneration packages negotiated by newly appointed chief executives in Perth, there is a common pattern -5 size equals money.

Reed Resources shares shot up on the ASX today after the gold miner said it had received a $27 million windfall after closing its gold hedge book.

Junior mining stocks Crest Minerals and Avalon Minerals have announced they will not be proceeding with planned acquisitions, after failing to get the backing of investors.

Reed Resources chief executive Luke Tonkin has tendered his resignation, after just more than 14 months at the helm of the struggling gold miner, which also detailed $70 million of asset impairments today.

Former Reed Resources and Mount Gibson Iron boss Luke Tonkin has joined Silver Lake Resources as director of operations, from today.

Struggling miner Reed Resources has agreed to sell its Comet Vale gold project to a private bidder for $2 million, about a third of the price offered by Crest Minerals in its terminated bid for the project last year.

Reed Resources has announced a $26 million write-down following the collapse of a potential sale by the administrators of the company's Meekatharra gold project.

Silver Lake Resources founding managing director Les Davis will step down from his role in November, leaving current executive director Luke Tonkin to fill his shoes.

Silver Lake Resources has entered into a binding heads of agreement with a private consortium for the sale of its Lakewood Mill near Kalgoorlie for $5.5 million.

Gold miner Silver Lake Resources has cut its production guidance for the current financial year and reported higher costs, triggering a 23 per cent dive in its share price.

Silver Lake Resources is selling off its non-core assets in the Murchison region, with Metals X acquiring its Comet gold project and Musgrave Minerals agreeing to buy a large portion of its Cue project.

Perth-based gold producer Silver Lake Resources is bullish after hitting its annual sales target and repaying all its bank debt.

Silver Lake Resources has sold its Great Southern gold project to ACH Minerals for $5 million in cash.

Gold’s rising stocks and role in the post-boom recovery will make this year’s Diggers & Dealers the most promising for many years. 

The premier has dismissed claims that almost 3,000 jobs would be lost under the state government’s planned gold royalty hike, after a report claimed that five existing mines were at risk of closing if the royalty was enacted.

Our daily board moves wrap includes Barry Sullivan, Lindsay Franker, Simon Eley, Hedley Widdup, David Quinlivan, Luke Tonkin, Derek La Ferla, Peter Harold, David Riekie, MaoFeng Ding, Les Davis, Brad Drabsch, Toby Wellman, David Morgan, and Robert Cooper.

Our board moves wrap includes Iveta Sceales, Struan Richards, Harry Miller, Sandra Bates, Alberto Lavandeira, Henk Diederichs, Anthony Italiano, Emma Curnow, Melanie Ross, Cameron Knox, Simon Acomb, Michael Klessens, Harvey Kaplan, Joshua Pitt, Luke Tonkin, Mark Williams, David Coyne, David Berg, Len Eldridge, Mathew Collings, Phillip Stevenson, Byron Dumpleton.

Our weekly appointments wrap includes Troy Kirkham, Jane Bennett, Gillon McLachlan, Luke Tonkin, Struan Richards and Cameron Henry.