PERTH (miningweekly.com) – TSX- and ASX-listed gold miner Troy Resources on Tuesday announced that MD and CEO Paul Benson had handed in a notice of resignation.
“Now is a logical time from both a personal and company perspective for me to hand the reins to someone else. I have been in the role for almost seven years and, with our operations in South America, that’s an awful lot of time away from home,” Benson said.
Benson would assist Troy in ensuring a smooth transition for his successor, which was yet to be announced.
Meanwhile, the company on Tuesday also announced that it had entered into a hedging programme with Investec Bank, under which 14 000 oz of gold would be delivered over the next 12 months, at a flat forward price of $1 300/oz. A further 360 000 oz of silver, at a price of $19.46/oz, would also be delivered over this time.
This hedging was in addition to the 1.68-million ounces of silver hedged last week, at a price of $19.40/oz.