Alacer board reshuffled
PERTH (miningweekly.com) – Dual-listed gold miner Alacer Gold has undertaken a board reshuffle as it continues the hunt for a buyer for its Australian assets.
The ASX- and TSX-listed miner announced on Tuesday that CFO Rodney Antal would be appointed as CEO and would join the board of directors, effective immediately. He would succeed David Quinlivan, who was stepping down as both president and CEO, and retiring from the board of directors.
Antal has been CFO since May last year, and has held several senior management positions within mining major Rio Tinto over a 15-year period. Prior to joining Alacer, Antal served as the CFO for Rio’s minerals division.
President for the Turkish operations, Howard Stevenson, has been appointed as company president and COO, also effective immediately, and would take over primary responsibility for the company’s mine sites.
Senior VP for finance, Mark Murchison has now been appointed CFO.
Nonexecutive director Stephanie Unwin has also resigned from the board of directors, effective immediately.
Meanwhile, Alacer reported on Tuesday that the company would continue its discussions with parties interested in purchasing the Australian business unit. Alacer was currently implementing an operating strategy to focus on near-term cash maximization, and has reported that it would place the Australian assets on care and maintenance within the next 12 to 18 months, if a buyer could not be found.
The Australian assets were expected to deliver a combined production of between 168 000 oz and 187 000 oz for the full year, at an operating cost of between $995/oz and $1 100/oz.
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