Georgian Mining Corporation has appointed chief operating officer Michael Struthers to the board with immediate effect.
He replaces Martyn Churchouse, who is stepping down as exploration director but will continue to work on behalf of the company as a senior adviser focused on business development. The company said the board change reflected progress made at the 860 sq km licence located on the Tethyan Belt in Georgia.
It said: 'While exploration work continues at the Kvemo Bolnisi East project to deliver the overall copper-gold resource target, management is in the final stages of negotiations with its joint venture partner on the project to advance the gold oxide deposit to production, utilising its partner's neighbouring processing facilities.
'The appointment to the Board of Mr Struthers, an experienced project manager, will assist the company as it makes the transition from explorer to mine developer/producer over the coming year.'
At 9:57am: (LON:GEO) Georgian Mining Corporation Ord Npv Di share price was +0.4p at 16.25p