69 Ann Street, Brisbane 1300 854 502
Client News

Brisbane – Former PanAust managing director and resources industry veteran Dr Fred Hess has been appointed a non-executive director of Brisbane-based MPX (Mining Projects Accelerator).

MPX is a project generator that uses cutting edge artificial intelligence and machine learning information, combined with traditional exploration techniques to accelerate the identification of drill targets on prospective mining leases in Australia. 

Dr Hess had been with PanAust for 13 years including four as managing director. Prior to joining PanAust, Fred managed the Macreas Gold Mine in New Zealand and the Mt Gordon Copper Mine in Australia following a career with WMC Resources and Bougainville Copper Limited in Papua New Guinea.

He will take up his appointment in April.

Mining industry veteran Dr Fred Hess

MPX Executive Director Grant Wechsel said, “Dr Hess joins MPX with over 30 years experience in the industry across copper, nickel and gold operations including assessing project opportunities and exploration programs, through to developing operating mines, which will be a huge asset for the MPXteam.” 

Established by Ortus Mining Capital with interests in Singapore, Laos and Australia, MPX’s strategy is to accelerate high potential mining projects along the value curve using robust technical analysis, proven leadership teams and astute capital raising programs.

MPX is currently building a stable of projects within the accelerator having secured a number of promising leases already and some strong prospects across different commodities in Australia.  

Fred Hess said, “I’m very attracted to the idea of trying to accelerate the identification and development of an economic ore deposit by rapidly screening multiple project opportunities. By selectively gathering data that can quickly inform the decision to continue to invest or discard, this helps to spread risk for investors while maximising the chances for success.

“I see the ‘accelerator’ approach using the latest advances in information technology as the new way forward for exploration. I look forward to providing strategic direction to the company through both the project filtering and subsequent development phases.”

MPX Executive Director Simon Cohn said, “The traditional time frames to discover new projects and accelerate them to development and ultimately production is leaving a future gap on the supply side in the gold industry.  

“We believe the use of technology to better identify targets and also continue to analyse drilling results combined with a laser focus by management on only taking suitable projects forward is a very real point of difference in the Australian market.

“Having someone of Fred’s standing in the industry to advise on project selection and strategy is a huge benefit for us and we look forward to working with him.”

The MPX board is targeting a mid-2019 launch by completing a fully funded initial capital raising. It is proposed that the accelerator will launch with 6-10 projects initially and that this will be progressively augmented by further additions.

0

Client News
Mining and infrastructure labour hire and workforce services specialist One Key Resources has made a strategic acquisition by purchasing the labour hire business Pegasus Employment from Hunter Valley-based integrated services firm Pegasus. Pegasus provide labour hire, training and induction and log-in systems and through expansion in other parts of their business have decided to exit labour hire. One Key Resources managing director Grant Wechsel said Pegasus Employment was a good fit with One Key’s existing services and the business would be fully integrated under the One Key Resources brand. “We’ve had experience ourselves in the region with our own operation based at Singleton,” Mr Wechsel said. “One Key Resources is committed to the coal industry and this acquisition provides us with great long term opportunities in the Hunter Valley as well as other regions in NSW. “We are excited to build on the great reputation that Pegasus has in the local area and believe our commitment to exceptional service combined with our strong industry background will make for a successful business in the long term.” One key resources Approximately 170 field staff have transitioned across to One Key Resources with three permanent Pegasus local staff also joining the One Key office in Singleton. One Key Resources regional manager for NSW Todd Geddes will be overseeing the local operation. Pegasus chief executive officer Adam Boyle said, “As Pegasus moves to focus on our contractor engagement and workforce management services, we are confident that One Key Resources will service our employees and clients with the same professionalism and care as we were proud to do as Pegasus Employment for the past 25 years. “We wish One Key Resources and its people all the best and trust the Hunter Valley mining sector will welcome them as they did us.” Rugby league legend Darren Lockyer is a director of One Key Resources and plays a key role in business development and client and community relations. He will be visiting the region for an event and site visits in the coming months. One Key has extensive operations throughout Queensland, Western Australia and in the Northern Territory servicing the mining, gas and infrastructure sectors. Earlier this year One Key Resources formed a majority indigenous owned joint venture in the Northern Territory with Wedgetail Larrakia Corporation to provide much needed innovative labour hire solutions to the Northern Territory. This acquisition in New South Wales continues the company’s national expansion. Media enquiries to Brenton Gibbs
0