Jakeman quits Carabella

A BOARDROOM rift at newly floated Carabella Resources has seen its highly respected managing director Mitch Jakeman walk out of the emerging Queensland producer due to “irreconcilable differences” over management style.
Jakeman quits Carabella Jakeman quits Carabella Jakeman quits Carabella Jakeman quits Carabella Jakeman quits Carabella

Carabella managing director Mitch Jakeman.

Lou Caruana

Fellow non-executive director Rick Gazzard has joined Jakeman in leaving the company as it seeks to replace the two directors who would have been instrumental in exploring and developing its Mabbin Creek coking coal deposit in the Bowen Basin.

Carabella chairman Andrew Amer has been appointed executive chairman until a replacement managing director is appointed.

David Begley, currently executive manager at Carabella, has been appointed as interim chief operating officer, effective immediately.

“The board is committed to continuing the company’s strategy to evaluate and develop its assets with a primary focus on building its existing JORC resource at Mabbin Creek,” Amer said.

“This strategy is on track, the company remains in robust financial health and the exploration schedule remains on track.”

Jakeman has more than 30 years experience in the coal industry, including senior roles at BHP, Shell Coal and Rio Tinto.

He was the head of operations with Anglo Coal Australia, overseeing the production of some 40 million tonnes per annum of coking and thermal coal in Queensland and New South Wales.

On his appointment, Carabella’s chairman at the time Michael Addison said Jakeman’s experience and industry expertise would be beneficial in developing the company’s coal exploration portfolio.

“In particular, he has an outstanding knowledge of the Mabbin Creek area, based on his senior management roles at Anglo Coal’s Moranbah North and Grosvenor coal projects adjacent to the Mabbin Creek tenement,” he said.

Gazzard’s senior management roles included a period as president of BHP Coal in Queensland, where he was responsible for the financial and operational performance of nine mines producing more than 50Mtpa of coal.

The board intends to appoint at least one additional non-executive director and the process of identifying a candidate with experience in the mining sector is underway.

Carabella shares dipped 4c to $1.85 yesterday.