NEWSPMI APPOINTS EXPERIENCED RESOURCES EXECUTIVE AS CEO IN LEAD-UP TO PRE-FEASIBILITY STUDY
Highly experienced mining executive Collin Ellison has been appointed as PMI Gold Corp.'s chief executive officer.
The appointment of Mr. Ellison, who has a long and distinguished career in resource project development and operation, reflects PMI's planned transition from a successful explorer to a substantial West African gold producer.
Mr. Ellison is a mining engineer with 35 of years experience in resource project evaluation, development and operation around the world. His previous roles include chief executive officer/president of TSX Venture Exchange companies Asia Mineral Resources Ltd., which developed a nickel project in Vietnam, and Goldbelt Resources Ltd., which explored and developed gold projects in Burkina Faso.
Mr. Ellison was also project director for Western Mining Corp.'s Olympic Dam expansion study and held senior management positions with companies including Eagle Mining Corp., where he helped develop the Nimary gold mine, later acquired by Great Central Mines, ZincOx Resources PLC, where he helped develop the Shiamerden oxide zinc project, later acquired by Glencore International and Goldbelt Resources Ltd., which developed the Inata gold project, later acquired by Wega Mining.
Mr. Ellison has also been operations manager at gold projects such as Freeport-MacMoran's Karonie, Australmin-Newcrest Mining's Tuckabianna and Orion-Gasgoine's Yilgarn Star.
PMI chairman Peter Buck said Mr. Ellison's appointment was aimed at strengthening the company's development expertise to maximize shareholder returns from its advanced Obotan and Kubi gold assets in Ghana.
Mr. Buck said Mr. Ellison's vast development experience would be invaluable to PMI as it prepared to conduct a prefeasibility study at its flagship Obotan project, which has resources of 1.2 million ounces, and a scoping study on its Kubi project, which has resources of 348,000 ounces.
"PMI is making the shift from a pure exploration company to one with substantial development opportunities which we are confident have the potential to underpin the company's transition to major gold production status," he said.
"Mr. Ellison's knowledge and experience will help steer the company during this evolution, ensuring we take full advantage of the outstanding opportunities we have."
Mr. Buck also thanked Mr. MacQuarrie for his work as managing director and chief executive officer and said he looked forward to his continuing contribution.
"Mr. Ellison's appointment, combined with the $35-million capital raising that accompanied the company's ASX listing in December, have left PMI ideally positioned for strong growth," Mr. Buck said.
"PMI has a substantial resource inventory, an aggressive exploration program, a healthy balance sheet and a strong, experienced management team. We are now looking forward to the next stage in the company's development."