Sierra Metals (TSX:SMT, Stock Forum) brought about a changing of the guard when the company announced today that it had appointed Audra Walsh as CEO and president effective July 28, 2014.
According to the news release, Ms. Walsh, a deeply respected mining executive with vast experience in strategic planning, mine optimization, and management of large engineering and technical teams including operating experience in Peru, was named to replace a retiring Daniel Tellechea.
The release noted that Ms. Walsh, a graduate of the South Dakota School of Mines and Technology, had been president and CEO of Minera SA, a privately held mining firm with projects in North America, South America and Europe, as well as holding senior management positions at Newport Mining and Barrick Gold (TSX:ABX, Stock Forum).
Mr. Tellechea will continue to act as consultant to assist with the transition and on an as-needed basis.
Company Chairman, Alberto Arias, commented on the appointment, “We are very excited to have Audra join Sierra Metals as President and CEO due to her deep and proven operational expertise, strong strategic and analytical skills and outstanding leadership abilities. We are confident that Ms. Walsh will lead the company in an exciting new phase of shareholder value generation and growth for the company.”
Then he added, “We believe that Ms. Walsh will also lead a strategy to increase the equity market awareness of our strong cash flows, solid balance sheet and exciting exploration developments at our three mines currently in commercial production.”
And remarked on David Tellechea's involvement with the company, “On behalf of the entire Board of Directors and the employees of Sierra Metals, I would also like to extend our sincere appreciation and gratitude to Daniel for his efforts and guidance over the past seven years. Daniel was instrumental in building a solid operating foundation, a talented team and a strong balance sheet and cash flows.”
Ms. Walsh stated, “It is a privilege to be asked to lead a diversified and producing natural resources company like Sierra Metals. I look forward to working closely with our Board and the Sierra employees to fully realize the potential of Sierra's assets, which are well diversified by commodity and geography.”
Sierra Metals was in the news recently when the company discovered more high-grade zinc at Yauricocha a little over a week ago.
Currently there are 159.2m outstanding shares with a market cap of $281.8 million.
FULL DISCLOSURE: Sierra Metals is a Stockhouse Publishing client.