Michael Lynch-Bell appointed as new Serabi Gold chair

Brazil-focussed miner and developer Serabi Gold announced the appointment of Michael Lynch-Bell as a non-executive director and its new chairman on Monday, with immediate effect.

The AIM-traded firm also announced that Nicolas Bañados, who had acted as non-executive chairman since June 2020, would continue in office as a non-executive director.

It said Lynch-Bell had spent a 38-year career with Ernst & Young (EY), having led its global oil and gas, UK IPO and global oil and gas and mining transaction advisory practices.

He was a member of EY’s assurance Practice from 1974 to 1996, when he transferred to the transaction advisory practice.

Lynch-Bell was also UK alumni sponsor and a member of the firm’s Europe, Middle East, India and Africa and global advisory councils.

He retired from EY as a partner in 2012 and continued as a consultant to the firm until November 2013.

Lynch-Bell is a non-executive director of London-listed Gem Diamonds, independent non-executive chairman of the ASX-listed Little Green Pharma, and independent non-executive director of the JSE-listed Barloworld.

“I am very pleased to take on this role with Serabi as the company moves into the next exciting phase of its development with the ongoing development of Coringa and advancing the many opportunities that its exploration tenements present,” Michael Lynch-Bell said.

Serabi confirmed Lynch-Bell would be appointed as chair of the audit committee, and also serve on the remuneration committee.

He graduated with a BA Hons Economics and Accountancy at the University of Sheffield, and is a member of the Institute of Chartered Accountants in England and Wales.

Eduardo Rosselot, who had served as a director of Serabi since October 2012, was standing down from the Board.

Rosselot was one of two representatives on the board, alongside Bañados, appointed by Fratelli Investments.

Fratelli was not seeking to replace Rosselot, and would only have one representative appointed to the board.

“I am delighted to have Michael join the board of directors of the company as non-executive chairman - he brings a wealth of international mining experience to Serabi and will provide significant insight in his role as independent chairman,” said chief executive officer Mike Hodgson.

“I would also like to take this opportunity to thank Eduardo for his ten years of service on the board. He has visited the operations on many occasions over this time and provided valuable technical input.

“Whilst he is standing down from the board, I am pleased that we will be able to continue to call on his services and support in the future.”

At 1202 BST, shares in Serabi Gold were up 0.26% at 38.6p.

Reporting by Josh White at Sharecast.com.