Haywood July 19th 2019 RNX CEO DEPARTS - New Boss, Same Goal Haywood July 19th 2019 RNC Minerals (TSX:RNX) - CEO DEPARTS - New Boss, Same Goal as per https://cdn.ceo.ca/1ek3p6g-RNXJul192019.pdf
« CEO DEPARTS
New Boss, Same Goal
OUR TAKE: While the style of interim CEO Paul Andre Huet is likely to differ from that of departing CEO Mark Selby, we expect RNX to continue to focus on its key objectives: (1) ramping up the Beta Hunt mine and Higginsville mill, (2) delivering on the Beta Hunt drill program and updated resource, and (3) advancing Dumont.
HIGHLIGHTS
• Mark Selby has resigned. RNC Minerals announced that Mark Selby has resigned as CEO of the Company, citing personal reasons, effective immediately. Mark had been CEO at RNX for 5.5 years (at the Company for over 9 years) and was responsible for the move into gold, diversifying from the sole focus on the Dumont nickel project in Quebec with the acquisition of the Beta Hunt mine in Australia.
• New CEO will bring operational focus. Paul Andre Huet, Executive Chairman of the Board, has taken over as interim CEO. He has over 30 years of experience in the mining business, including CEO of Klondex Mines from 2012-2018, and COO of Premier Gold Mines prior to then. His operations focus will be an asset as the Beta Hunt mine ramps into production and the integration with the Higginsville mill proceeds.
RECOMMENDED ACTION
We maintain our BUY rating as RNC focuses on critical catalysts
• We Maintain our Buy Rating and $0.80/sh Target. The market will be looking for Paul Andre Huet to deliver on the key catalysts, which include expanding and updating the resource, as well as implementing a new mine plan at Beta Hunt, and advancing the 28%-owned Dumont nickel project with financing and construction. Overall, RNX is well-positioned to capitalize on its exposure to the two hottest metals – gold and nickel, execution on the plan will be the key. »
N.B.: Initially posted by stockmaster989 as per https://stockhouse.com/companies/bullboard?symbol=t.rnx&postid=29967227