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Wednesday, 1 May 2013
Kincora Copper restructures management roles
Kincora Copper (CVE:KCC) has changed its internal management structure with Jonathan (Sam) Spring taking over as president and chief executive.
John Rickus, who was previously the president and CEO, will become chairman, while former chairman Stephen Fabian will become independent non-executive director.
Stephen Fabian said the realignment of roles among the existing internal team reflects planned 2013 field season activities and ongoing discussions with potential strategic investors regarding technical and financial synergies.
“In August last year, both John and Sam were appointed as senior executives and these announced changes are expected to optimize the board and management teams’ valuable technical, commercial and financial markets experience.”
Kincora Copper’s flagship project is Bronze Fox in Mongolia. The firm said yesterday it had been hit by global economic contractions as well as uncertainties surrounding Mongolia, but added it hopes 2013 will mark a turnaround in investor sentiment towards it and other firms based in the country.