January 24, 2017
Jason Elks, who for several years has been the public face of would-be miner Moreton Resources, is scaling back his role with the company even further.
In August last year, Moreton – the company which is planning a coal mine on the outskirts of Kingaroy – announced that Mr Elks was resigning as CEO and would assume the role of Executive Chairman.
On Friday, a statement from Moreton announced a “Transition Plan” for Mr Elks.
From July 1, he will work just one day a week as CEO and Executive Chairman.
“His current salary and arrangements will be reduced accordingly to reflect this move,” the statement from the Board said.
“It has been determined the business imperatives have shifted extensively and therefore a part-time role is more suited to the company’s needs and demands moving forward.”
The Board noted that a full-time CEO had been appointed to MRV Metals (Granite Belt project) and a Project Manager to MRV Tarong Basin (Kingaroy coal mine project).
“The role I took on in November 2013, supported by several other key people, was to seek to stabilise the company, look to optimise the assets we had, and seek to find a path forward that can potentially deliver for the shareholders,” Mr Elks said.
“I believe Moreton Resources Limited is now in an extremely strong position to advance and dictate its own future, pending the outcome of the Administrative Appeals Tribunal matter, however even taking this issue into account, the assets, opportunities and advancements being made now are significant and will set a very strong platform moving forward.
“This focus is operational and therefore we need to transition and ensure we have the right people in the right roles to deliver for the shareholders of Moreton Resources.”
Prior to the new arrangements, Mr Elks will be working part-time as he takes annual leave.
“Under his stewardship, (Mr Elks) has substantially moved the company from solely focusing on UCG to that of a genuine near-term mining holding company with significant interests in coal, silver, copper and gold through its subsidiaries,” the Board statement said.
- Related article: Elks To Resign As Moreton CEO