Savannah Goldfields Limited (ASX:SVG) has announced the appointment of Brad Sampson as its new Chief Executive Officer, effective immediately. Sampson brings over 30 years of international mining experience to the role, including previous CEO positions at ASX-listed Discovery Metals Ltd and Kore Potash Ltd. He also held senior executive roles at Newcrest Mining Ltd. His remuneration includes a total fixed package of $450,000 per annum, inclusive of superannuation. He will also receive 20 million options exercisable at 2c with a 3-year term, vesting in two tranches. The announcement also detailed short-term and long-term incentive plans tied to corporate KPIs, including safety, financial performance, and shareholder returns. The short-term incentive offers up to 40% of the total fixed remuneration. The long-term incentive grants performance rights equivalent to 40% of TFR. These rights will vest over four years based on the achievement of absolute total shareholder return (ATSR) targets and time-based criteria.
Stephen Bizzell, Savannah’s Chairman, expressed confidence in Sampson’s ability to lead the company through its next phase of development, focusing on restarting mining operations, expanding the gold resource base, and optimizing shareholder value. Sampson echoed this sentiment, stating his enthusiasm for the opportunity to recommence operations and grow profitable gold production from the Agate Creek and Georgetown mining areas, as well as advance the company’s exploration portfolio. The initial ATSR targets for the performance rights are set at 1.8c for year 1, 2.1c for year 2, 2.5c for year 3, and 3.0c for year 4. The appointment signals Savannah Goldfields’ commitment to advancing its projects and enhancing shareholder value through experienced leadership.
