JOHANNESBURG (miningweekly.com) – Spain-focused Ferrum Crescent on Tuesday announced several directorate changes, including the resignation of its executive chairperson Justin Tooth.
Tooth resigned from the board of the lead and zinc explorer with immediate effect in order to pursue other business interests.
Nonexecutive director and company secretary Grant Button was named nonexecutive chairperson, also with immediate effect.
Ferrum Crescent, which has shifted its focus to the Toral project, in Spain, said that Laurence Read would become an executive director. He would work with the company’s geological team and consultants to advance the explorer’s project.
Evan Kirby remained in his nonexecutive director position and would continue to provide project development expertise.
Ferrum Crescent further announced that it would not employ a new full-time CEO and that it would not make any board-related salary or remuneration adjustments, in order to maximise its exploration expenditure on the Toral project.
The explorer recently shifted its focus to the Toral project after selling its Moonlight iron-ore assets in South Africa.