Aurum Mining appoints Michael Stevens CEO

He has over 25 years’ experience with global portfolio businesses in the security, cyber, aerospace, defence and high technology sectors.

The 54-year-old was previously head of international market development for Airbus Defence & Space, a role he took over after the integration of Cassidian UK, where he was chief executive.

The company said that Stevens will be responsible to help the company identify attractive opportunities and achieve a change in strategic direction amid challenging market conditions in the natural resources sector.

Chairman David Williams said: "To have someone of his calibre and experience means that we can now accelerate our plans to look at a range of transformational opportunities, as we have set out in previous statements. These opportunities will deliver a change in strategy with a view to creating greater value for our loyal shareholders and we will be looking to make other key board appointments in due course."

Stevens, added: "The board's vision for taking the business forward to the next level is clear and I am looking forward to using my experience in managing and growing portfolio businesses to help transform the company for the benefit of its shareholders."

Shares in Aurum Mining were up 8.11% to 2p at 0844 BST.