Black Dragon Gold announces Management Re-organisation
26 September 2019
September 26, 2019 - Black Dragon Gold Corp. (ASX: BDG) (the “Company” or “Black Dragon”) is realigning the executive and management roles of the Company to more effectively utilise the skills inherent in the management team of the Spanish subsidiary Exploraciones Mineras del Cantábrico (“EMC”).
The Company submitted the initial project description to the General Directorate of Mining in the Principality of Asturias in July, to initiate the proceedings of the Environmental Impact Assessment (“EIA”). With the Mineral Resource Estimate and Preliminary Economic Assessment complete, management focus will shift to preparation of the EIA and community relations in Spain. Consequently, the role of the parent company executive has reduced, and the EMC management responsibility increased. The board of BDG has resolved to amend the role of Paul Cronin from Managing Director to Executive Director, and in recognition of this transfer of responsibility reduce the cash fees paid by 50% effective 1 July 2019. Paul will remain the senior executive at Black Dragon.
Black Dragon Chairman, Jonathan Battershill commented “As the Salave Project progresses, it is necessary that the key day to day decision making regarding the project permitting drift more towards our team at EMC, leaving Paul and the board to focus on strategic direction and governance. Paul has provided exceptional oversight of the project since joining the company in 2017, framing our approach and implementing that at EMC. With the EMC team taking on more project delivery responsibility, Paul will be able to focus his efforts on corporate marketing and governance, ensuring that we have the best possible corporate and financial structures in place to support EMC as it moves through the permitting process, feasibility and eventually into production”
The Ministry of Environment is expected to issue the Terms of Reference at the end of October 2019. EMC will then be required to complete and submit the EIA for approval, within the scope outlined in the Terms of Reference, to both the Ministry of Environment and the General Directorate of Mining.
For more information, please contact;
Paul Cronin, Executive Director
P: +44 0207 993 4077 E: email@example.com