The Red River Resources Limited CEO and Managing Director, Mel Palanchian, has announced he will be resigning due to personal reasons.
Mr Palachian had been with the company for seven years, and confirmed he will continue in the role until a suitable replacement is found.
“After over seven years with Red River, I am proud of the progress that the team has made, with the development and commencement of production at Thalanga and the subsequent acquisition and development of Hillgrove,” Mr Palachian said.
“This has resulted in Red River becoming a multi-asset operator focussed on lean and clever resource development.
“I want to take this opportunity to thank the board, management and employees of Red River, as well as Red River shareholders, for their support over the years.”
The company’s board of directors has begun the search for a new Managing Director and Chief Executive Officer.
The board took the opportunity to acknowledge Mr Palachian’s years of service and “his invaluable contribution towards the growth and development of Red River”.
Chairman of the Board, Brett Fletcher ,said, “There have been many challenges over the last few years, not least operating across three states during COVID-19 restrictions”.
“Mel’s experience and leadership has been pivotal to providing the company with a platform for growth over the coming decades.”
