Australian Potash Ltd (ASX:APC) has appointed Patrick Leung, an experienced resource finance executive, as Chief Financial Officer.
The new CFO brings to the company extensive experience gained from a 20-year career in banking focused primarily on the natural resources sector and replaces Scott Nicholas in that role.
Leung’s most recent role was as Director, Investments (Resources and WA), for the Northern Australia Infrastructure Facility (NAIF).
Extensive banking experience
Matt Shackleton, Managing Director and CEO of APC, said, “As APC seeks to finalize the last critical phase of pre-development – the development funding program – we are delighted to welcome Patrick to the highly successful team. knowledgeable and experienced staff of APC.
“Patrick’s extensive banking experience and understanding of the resource sector will be invaluable to our shareholders as we work to secure debt and equity financing agreements for the development of the Lake Wells Sulphate of Potash Project.”
Familiar with Lake Wells
Shackleton said: “Patrick is already familiar with the Lake Wells project from his time at NAIF and he will play a pivotal role in strengthening our existing relationships with NAIF and Export Finance Australia and creating new partnerships in the existing syndicated credit facility. .”
Leung held similar positions at Bankwest and Westpac, including six years as Director, Natural Resources, at Westpac Institutional Bank. He has also held CFO and M&A positions within the private equity industry and GE Real Estate.
He holds a Bachelor of Commerce from Curtin University, an MBA from the University of Western Australia, a Post Graduate Diploma in Applied Finance (Corporate Finance) and is a Chartered Accountant. .
“On behalf of the Board of Directors and the management team, I extend my thanks to Scott Nicholas for his contribution to the company over the past four years and wish him every success in his future endeavours” , added Shackleton.