Shares of Meridian Mining UK saw a significant boost on Monday after it was announced that former Sabina Gold & Silver CEO, Bruce McLeod, has been appointed as the new chairman. The company's shares surged by 17% to C$0.37, and the stock has now experienced a 7.4% increase in value since the beginning of the year.
A Mining Veteran Takes the Helm
With an impressive three-decade career as a mining engineer, McLeod is well-versed in the industry. He previously served as president and CEO of Sabina Gold & Silver until its acquisition by B2Gold in April. Now, he brings his expertise to Meridian Mining as its new chairman.
A Change in Leadership
McLeod's appointment follows the departure of Susanne Sesselmann, who took on the role of interim chair in September. At the same time, former executive chairman Gilbert Clark agreed to return to the company as the chief executive, stepping down from his chairman position in June.
A Promising Future for Cabacal
Earlier this month, Meridian Mining announced that it would be conducting a review of its non-core exploration assets in Brazil. This review aims to chart a strategic path forward for these projects, focusing on the advancement of the flagship Cabacal gold-copper-silver project.
After thoroughly evaluating Cabacal and collaborating with Meridian's team, McLeod expressed confidence in the project's potential to become a prominent copper gold producer.