Gold production in the second quarter for the Guyana Goldfields Inc (GGI) operations at Aurora, Region Seven was less than the first quarter of the year and there has been a significant change at the top with its Executive Chairman Patrick Sheridan replaced.
On July 30, the board of directors of GGI announced the appointment of independent director, René Marion, as the non-executive Chairman of the Board. “Patrick Sheridan Jr. has been terminated by the Board in his capacity as Executive Chairman, effective immediately. Mr. Sheridan will continue to be a member of the Board”, the company said. Sheridan was the founder of the company and had been its key figure going all the way back to 1996.
“The Company has substantially evolved since its founding into a sophisticated mid-tier producer that requires an effective management structure. The Company intends to realign its dual reporting structure and streamline communication with a single reporting structure to CEO, Scott A. Caldwell. The Company also intends to prioritize its effort to maximize production from the Aurora Gold Mine, focus on near mine exploration opportunities until mining operations are optimized,” Marion stated in the July 30 release.
