Troy MD steps aside

PERTH (miningweekly.com) – Gold miner Troy Resources has announced the resignation of MD Martin Purvis and CFO and company secretary Stacey Apostolou.

The ASX-listed Troy on Wednesday told shareholders that with the installation of the new management team, recovery from the recent pit wall failure at the Karouni project, in Guyana, essentially complete, and a revised debt repayment schedule in place, Purvis believed it was the logical time for a leadership change.

Purvis, who will continue in his role until the end of May, will be temporarily replaced by chairperson Fred Grimwade.

Meanwhile, Apostolou has handed in her resignation citing personal reasons, and will work with the company to oversee the transition of her role.

Grimwade said on Wednesday that in light of the management changes, Troy will scale back activities at its Perth office, to increase its focus on operational performance in Guyana.

“Moving forward, the focus of all our resources must be on delivering continuous improvement in production performance from Karouni. I have been encouraged by the work completed over the past few months by the team on site and believe that this considerable effort will position us well for the future.”