Alio realigns capability as its suspends Mexico project
Following the temporary suspension of exploration and development work at the Ana Paula project in Guerrero, Mexico, Alio Gold on Monday announced several management changes, including the departure of VP of project development, Paul Hosford and project manager Terry Murphy.
Both men will be leaving the company at the end of August, said Alio, which noted that the gold price and capital market conditions were not supportive of advancing the Ana Paula project at this time.
CFO Colette Rustad, who the company brought on board last year to lead the arrangement of $100-million in debt financing to build a mine, left the company in August 2017.
Ian Harcus, currently corporate controller, has been appointed VP for finance and will lead the finance function for the company.
In conjunction with this, the company has also implemented a number of changes at its corporate office in Vancouver, which are expected to reduce the corporate overhead by about $1.2-million over the next 12 months.
Technical capability is now being aligned under COO Doug Jones, as the company focuses on the technical review of the San Francisco mining operations in Sonora, Mexico. The objective of the review is to improve understanding and mining operations in the San Francisco pit aiming at reduced mining dilution and improved grades feeding the crushing circuit ahead of heap leaching.
At Florida Canyon, in Nevada, in the US, Alio has begun implementing new management systems and processes as part of the integration process. Joe Campbell, the current GM at San Francisco, will be moving into the GM role at Florida Canyon to lead these changes.
A new life-of-mine plan and supporting technical report for Florida Canyon would be completed by the end of the year.
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