Harte Gold has a new CEO and COO
Gold junior Harte Gold, which operates the Sugar Zone mine, in northern Ontario, has a new CEO, with Sam Coetzer taking up the reins.
Coetzer, who is a former CEO of midtier miner Golden Star Resources, takes over from Sam Roger, who resigned in August as CEO and is now the chairperson of the board.
Harte also appointed another Golden Star executive, Martin Raffield, as executive VP and COO, taking over from Roger Emdin.
Coetzer said in a news release that the new management team’s focus would be on driving stronger operational performance, optimising underground operations, ensuring the paste plant was operational by year-end and executing a 2020 mine plan and strategy that was achievable.
His comments came as Harte had to slash its guidance, following a below-target performance in the third quarter. The company is now forecast to produce between 24 000 oz and 26 000 oz at an all-in sustaining cost (AISC) of $2 000/oz to $2 200/oz, rather than its previously guided 39 200 oz at an AISC of $1 300/oz to $1 350/oz.
Third-quarter output came to 6 069 oz, which was 22% below the prior-year period’s 7 754 oz and 43% under the feasibility plan’s 10 600 oz.
“I am very excited to join Harte Gold as CEO. I see tremendous potential in the Sugar Zone property and believe the operational challenges experienced to-date can be resolved,” said Coetzer.
Meanwhile, Fergus Kerr has resigned from the board.
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