Katoro Gold taps Patrick Cullen as interim CEO
Updated : 13:48
Katoro Gold announced the appointment of Patrick Cullen as its interim chief executive officer on Thursday, following the completion of due diligence.
The AIM-traded firm said Cullen would lead Katoro through its next development phase, focusing on advancing the technical review and progress of the Haneti Project in Tanzania, which is a joint venture with Power Metal Resources.
His responsibilities would include extracting value from the company’s business interests and AIM listing for the benefit of shareholders and rapidly advancing the review and potential acquisition of new opportunities in the critical and precious metals exploration and project development sector.
“I am pleased to confirm Patrick's appointment to the role of interim chief executive officer,” said non-executive chairman Sean Wade.
“With this appointment we are now able to push ahead at some pace with our plans for the business and we are excited by the potential opportunities available at this time.”
With extensive geological, geophysical, and mining experience, Katoro said Cullen had held board and senior managerial roles in junior resource exploration and major mining sectors, including companies listed on AIM, TSX, and ASX.
Since the financing was announced in February, Katoro had been advancing its existing interests, particularly the Haneti project, where a detailed technical review was underway.
Cullen would continue to progress that work while also actively reviewing new project opportunities.
“I am excited to come on board at Katoro as part of the strategy to revitalise the company and I'm looking forward to working together with Sean and the board to accelerate the initiatives already underway,” commented Patrick Cullen.
“I will be driving the Haneti technical review and optimising next steps as well as advancing activities around new project opportunities.
“I look forward to communicating updates to the market at the earliest opportunity.”
At 1348 BST, shares in Katoro Gold were up 7.03% at 0.1p.
Reporting by Josh White for Sharecast.com.