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Greatland Gold PLC (GGP.L) Appointment of CEO

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce the appointment of Shaun Day as Chief Executive Officer of the Company.

Shaun Day will succeed Gervaise Heddle, who is leaving the Company to pursue other interests. Shaun Day will take up the position of CEO and join the Board on 8 February 2021. Gervaise Heddle will remain on the Board and part of the Executive team until 12 March 2021 to ensure a smooth transition.

Shaun Day is a Chartered Accountant with over 20 years of experience in executive and financial positions across mining and infrastructure, investment banking and international accounting firms. He spent five years (2014-2019) as CFO of Northern Star Resources Limited (“Northern Star”), an ASX100 company and a global-scale Australian gold producer, where he oversaw the company’s market capitalisation expansion from AU$700m to AU$8bn. As CFO of Northern Star, Shaun was part of the executive team that led the acquisition and funding of the Pogo Gold Mine, and the divestment of the Plutonic gold mine. Prior to Northern Star, Shaun spent five years as CFO of top 50 SGX listed Sakari Resources Limited (“Sakari”), one of Indonesia’s leading thermal coal exporters. He leaves his position as CFO at AIM and ASX listed Salt Lake Potash Ltd to join Greatland.

Shaun also has considerable capital markets experience with a track record of leading successful transactions including M&A of publicly listed companies, farm-in agreements and raising capital. As CFO of Sakari and prior to this at Straits Resources Limited, Shaun led numerous transactions including acquisitions and divestments, financing activities and commercial farm-in agreements. Notably, he led the IPO of Sakari on the Singaporean Stock Exchange for US$325m, ultimately achieving a sale price of US$2.0bn when the company was taken over by the Thailand state owned enterprise PTT.

Alex Borrelli, Chairman of Greatland Gold plc, said: “On behalf of the Board, I would like to thank Gervaise for his tireless commitment and outstanding contribution to the development and success of Greatland. Gervaise joined the business in May 2016 and was instrumental in the acquisition of the Havieron project and securing the subsequent Farm-in and Joint Venture Agreements with Newcrest. Under his leadership, the team at Greatland has delivered exceptional value creation for shareholders. He leaves Greatland in a strong financial position and with a clear strategy in place for the potential development of Havieron towards commercial production. He goes with our warm wishes and we hope he achieves equal success in all his future endeavours.

“It is a measure of our growing reputation as a business that we are able to attract high-quality people to Greatland, and I am delighted to welcome Shaun to our Board as our Chief Executive Officer. Shaun brings extensive industry and regional experience as well as capital markets expertise and is a great addition to our strong management team. During his five years at Northern Star, one of Australia’s largest gold miners, Shaun helped take the company from a similar size as Greatland to an approximate A$8bn market capitalisation, demonstrating his all-round expertise and suitability for the role. W e look forward to working with him and benefitting from his extensive experience.”

Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: “It has been a privilege to serve as Chief Executive Officer of Greatland and I have truly enjoyed working with our incredible team over the past four years. I would like to take this opportunity to thank my colleagues with whom I have had the pleasure of working and who have provided so much inspiration. I am incredibly proud of what we have achieved together.

“With Havieron now at a key inflection point, with both an Initial Inferred Mineral Resource estimate in place and, subject to required approvals, the construction of the box cut and decline due to commence shortly, I feel now is the natural point for me to hand over the running of the Company to someone who can progress it to the next level. It gives me great confidence to welcome Shaun as my successor. Shaun brings the necessary large-scale mining pedigree and is highly respected in the industry with a track record of building major mining companies. He has my full support as the right person to take Greatland forward on the next leg of its exciting journey.”

Shaun Day, Incoming Chief Executive Officer of Greatland Gold plc, said: “I am delighted to take on the role of Chief Executive Officer of Greatland. Under the leadership of Gervaise, the remarkable progress at the Havieron Joint Venture over the past two years has created a strong platform for future growth. I look forward to working closely with the Board, the Greatland team and our key partners as we continue to drive forward a multi-pronged growth strategy and realise further value for shareholders.”

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:

Shaun Gregory Day (47) is currently or has been a director of the following companies within the previous five years:

Mr. Day does not have any beneficial interest in the ordinary shares of the Company. As part of his appointment, Shaun Day will be granted 5,000,000 performance options on commencement of employment. It has been agreed that each option will have a 25p exercise price, a three year vesting period and a life of five years from grant date.

Save as set out above, no further information is required to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.


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