King River Names Gold Exploration Veteran Graham Gadsby as Managing Director

A New Chapter for King River Resources

King River Resources Ltd (ASX – KRR) has announced the appointment of Mr. Graham Gadsby as its new Managing Director, effective 14 October 2025. This move marks a significant leadership transition for the gold exploration company, as it seeks to capitalise on Gadsby’s deep expertise in mining geology and operational management.

Gadsby brings a robust background shaped by his academic credentials, a Master of Science in Mining Geology from Camborne School of Mines and a Bachelor of Science in Exploration and Resource Geology from Cardiff University, and a proven track record in the Australian mining sector. His seven-year tenure at Spartan Resources Limited saw him rise through senior roles, including General Manager Operations and Chief Geologist, where he played a pivotal role in the discovery and development of the Never Never and Pepper gold deposits in Western Australia.

Driving Growth Through Experience

At Spartan Resources, Gadsby was instrumental in turning around the company’s fortunes, guiding it through a successful relisting on the ASX and spearheading exploration efforts that culminated in significant high-grade gold discoveries. These achievements not only secured Spartan’s future but also facilitated its merger with Ramelius Resources, underscoring Gadsby’s ability to navigate complex operational and strategic challenges.

King River’s Chairman, Anthony Barton, expressed strong confidence in Gadsby’s appointment, highlighting his dual expertise in mineral exploration and business development as key to advancing King River’s prospects. The company is clearly positioning itself to leverage Gadsby’s leadership to chase new discoveries and maximise shareholder value in a competitive market.

Incentives Aligned with Performance

Gadsby’s remuneration package includes a base salary of A$300,000 per annum plus a director’s fee of A$40,000. Notably, he is set to receive 100 million performance rights, subject to shareholder approval at the 2025 annual general meeting. These rights will convert into ordinary shares if King River’s share price reaches 2.5 cents over 20 consecutive trading days or if a takeover event occurs before 30 November 2028, aligning his incentives closely with the company’s market performance and strategic milestones.

This structure reflects a clear commitment by King River to incentivise leadership that delivers tangible growth and value creation. The performance rights also signal the board’s confidence in Gadsby’s ability to drive the company toward these ambitious targets.

Looking Ahead

As Gadsby steps into his new role, investors will be watching closely to see how his leadership influences King River’s exploration strategy and operational execution. His history of managing projects from early exploration through to production suggests a hands-on approach that could unlock significant value for the company’s shareholders.

With the mining sector’s inherent volatility and competitive pressures, Gadsby’s appointment is a calculated move by King River to stabilise and accelerate growth. The upcoming shareholder vote on his performance rights will be a key event to monitor, as it will set the tone for his tenure and the company’s strategic direction.