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Michael Smith is a seasoned executive with extensive experience in financial management, HR, IT, and business development. He has held senior roles in various companies, including LionOre Mining International Ltd, BCL Limited, and HGS International. Smith is also a qualified chartered accountant (C.A.(S.A.)) and has a strong background in financial reporting, treasury management, and business strategy.

Experience

  • HGS International
    • Pietermaritzburg, KwaZulu-Natal, South Africa
    • Group Financial Services
      • Oct 2017 - Present
      • Pietermaritzburg, KwaZulu-Natal, South Africa

      Part of 3 man Exco – the two owners and myself – I am directly responsible for overall Financial, HR and IT and am involved in all areas of the business. The Group has operating entities in Ghana, Burkina Faso, Cote dÍvoire and Mali and I travel extensively between operations.

  • Self Employed
    • Botswana, South Africa
    • Director
      • Jan 2008 - Sep 2017
      • Botswana, South Africa

      In 2015 to current, 50% owner of Aldes Mining and 100% owner of Aldes Business Brokers, Hilton KZN, South Africa. This involved understanding businesses/mining projects, marketing them for sale or joint venture, negotiation, drafting agreements, finalising sales/JV agreements etc. 2012-2015, assisting Rockgate Capital Corporation with the development of its uranium deposit in Mali. DRA completed its detailed Economic Study of the project and the project was acquired by Denison Uranium Corporation. Our team was instrumental in maximising the sale value and subsequently we were surplus to Dennison’s immediate requirements; we accordingly mutually terminated our arrangements.2007 - 2012, I was involved in investigating many international mining opportunities on behalf of the ex LionOre founding shareholders. Some of these progressed into multi-million $ investments; Mantra Resources (Uranium in Tanzania), Coalspur (Canada) and Mirabella Nickel (Brazil). I was also involved in these to varying degrees subsequent to the group’s investment.

    • Executive Strategic Development
      • Jan 2006 - Dec 2007

      During 2006 LionOre became a takeover target and I was promoted to Executive Strategic Development, to maximise shareholder protection from the LionOre Africa perspective; demonstrate value of operations, modelling, data rooms etc. During 2007 Nolrisk Nickel successfully acquired LionOre International for USD 6.8 billion. I resigned after Norilsk’s acquisition.

    • Financial Director
      • Jun 2004 - Dec 2005

      2IC to the LionOre Africa Managing Director as the Financial Director (Africa). We created the African head Office, implemented systems, employed staff etc. Acquired 50% share in the Nkomati Mine from ARM. Due diligence, financial modelling, negotiations, legal process, Reserve Bank and Competition Board approvals, financing, taxation, offshore holding structures for the African assets etc.Six man LionOre Africa Exco and personally responsible for the entire LionOre Africa financial function.I twice raised more than USD 400 m financing (including hedging on one of the loans). Also, together with a team completed all of the formalities for the acquisition of a refinery in Norway in four weeks (which acquisition was dependent upon another transaction between other 3rd parties, this transaction unfortunately never materialised and hence our acquisition also did not materialise). Major insurance claim - successful multi-million USD outcome for LionOre.

    • Finance Administration Manager
      • Sep 1998 - May 2004
      • Francistown, Central District, Botswana

      I was part of a four man Exco and reported directly to the General Manager and was responsible for the entire financial and administration function of Tati; Financial reporting (multi-currency), treasury (multi-currency), metal sales, insurance, contracts, payroll, stores and purchasing, contractual matters, negotiations, adjudications, claims etc. I was also responsible for the human resources department; member of annual wage negotiation team, set up recognition agreement with the union, drafting and implementing the suite of company rules and regulations, the medical department (1 doctor and medical facility) and the sub-contracted information systems function; implementation of a mine wide ellipse system (financial, stores, purchasing and engineering). Tati had 850 direct and indirect employees and turnover of +- USD200m.

  • BCL Limited
    • Selebi-Pikwe, Central District, Botswana
    • Chief Financial Accountant
      • Aug 1996 - Aug 1998
      • Selebi-Pikwe, Central District, Botswana

      BCL = 5 000 employees and turnover of +- USD 100m - I managed the Financial Accounting Department.

Education

  • 1989 - 1989
    South African Institute of Chartered Accountants
    C.A.(S.A.)
  • 1978 - 1982
    Hilton College
    Matric

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Industry Focus. “Mining”

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