Regency Mines hires Nigel Burton as chairman amid reshuffle

Natural resource exploration and development firm Regency Mines has appointed industry veteran Nigel Burton as its next non-executive chairman.

Burton, who spent more than 14 years as an investment banker at multiple City outfits, including UBS Warburg and Deutsche Bank, before moving on to serve 15 years as chief financial officer at a number of private and public companies, was appointed by Regency's Scott Kaintz - who made the switch from executive director to chief executive on Monday.

Elsewhere, the AIM-listed group added Ewen Ainsworth to its board to take on the role left behind by outgoing non-executive director Edmund Bugnosen.

Kaintz said: "We would like to welcome Ewen and Nigel to the Regency team as we continue the process of reinvigorating and refocusing the business.

"Some time in the making, these board changes constitute the next of several steps placing Regency on a sustainable long-term development pathway."

Looking forward, Regency's revised board assured investors that it would continue the ongoing strategic review of its business operations and would make further announcements on the process "as appropriate".

As of 0820 BST, Regency shares had jumped 10% to 0.066p.