Pharsalus Gold under new management after company takeover

Azimuth Resources, the owner of Australian Company Pharsalus Gold Inc., has recently sold over the company to Troy Resources Limited.

Troy Resources Limited is another Australian company which has bases in Brazil and Argentina. According to a notice published in last Friday’s Stabroek News, the takeover of the new company has resulted in several changes in the management of project development in Guyana. The notice stated that there were also changes in the administration of the company’s affairs. Ken Nilsson was selected as the project Director and CEO for the Troy Guyana Operations, who would also assume the role as Country Manager replacing Mr. Robert Power.

The Resident Manager Ian Christie remains in his post and will continue to focus on government relations, tenements administration and general commercial activities, while Jaime Altman was appointed as the temporary Manager of Administration and Peter Doyle was selected to be the company’s new Vice President for Exploration and Business Development.

According to the notice all money-making or tenement transaction requires the approval of the Project Director or any other person appointed by him in writing. “Any correspondence to the company should be addressed to the project manager,” it noted.

Earlier last month Pharsalus Gold Inc. had applied to the Environmental Protection Agency (EPA) for authorisation to carry out large scale gold mining at Black Water Creek, Kaburi Area, in Region Seven. The EPA had released a notice indicating that an Environmental Impact Assessment (EIA) was required for the project since the planned use of cyanide raised environmental concerns.

Troy Resources Limited was initiated in 1987 and has since developed a chain of small to middle size mining projects in Australia and South America. “The company has a proven track record as a project developer… and has certification under ISO 14001 for its operation in Argentina,” the notice said.


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