VANCOUVER (miningweekly.com) – Canadian miner New Gold has appointed Hannes Portmann as president of the company and said that executive VP and COO David Schummer, who joined in September 2014, is leaving.
Current board member Raymond Threlkeld, who was the former president and CEO of Rainy River Resources, before New Gold acquired the company, will become interim COO.
Threlkeld will be tasked to lead the project development team through the continued construction of the company's Rainy River project, which is currently more than 65% complete and on schedule to begin production in mid-2017, the company stated.
Toronto-based New Gold will commence a comprehensive search process to recruit a permanent COO.
The company’s producing operations, managed by VP of operations Cory Atiyeh, remain on track to meet 2016 production guidance at costs that are within, or potentially below, the guidance ranges, New Gold advised.
New Gold’s TSX-listed stock fell more than 5% on Monday to C$4.28 apiece after the news release.
Edited by: Creamer Media Reporter
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