TORONTO, Aug.
25, 2021 /CNW/ -
Superior Gold Inc. ("Superior Gold" or the
"Company") (TSXV: SGI) is announcing today changes to its
corporate structure and management team, designed to streamline
operations and enhance the Company's growth strategy as it expands
production at its 100% owned Plutonic Gold Operations located in
Western Australia.
Chris Jordaan, President and CEO
of Superior Gold, commented, "As part of our strategy to increase
profitability, streamline our operations and embed agility and
scalability, we have re-organized our corporate structure to
further drive the transformation of the Company. We expect
these changes will result in cost reductions and provide an
increased focus on execution of our strategy."
In implementing these changes, certain executive roles have been
eliminated and the Company's executive team has been reduced,
resulting in each of Keith Boyle,
Chief Operating Officer and Brian
Szeto, Vice President, Corporate Development, who have both
made important contributions to the Company, leaving Superior Gold
to pursue other interests.
"Both Keith and Brian have made valuable contributions to
Superior Gold," added Mr. Jordaan. "On behalf of the Board and all
of the Company's stakeholders, I thank them for their years of
service and wish them every success in the future."
The Company further announces that the current General
Manager (GM) Plutonic Operations, Russell
Cole, will now take on the role of General
Manager Plutonic and Vice President (VP) Operations, assuming
the responsibilities of the outgoing COO and report
directly to the CEO. The Company expects a seamless transition
of such responsibilities. Russell
Cole is an experienced General Manager with over 30 years'
experience in Gold, Nickel, Tin, Coal and Construction, managing
mine operations, feasibility studies and start up projects
including open cut and underground mines. He graduated from WA
School of Mines as a Mining Engineer and also has a First Class
Mine Managers Certificate and Master of Business
Administration.
Keith Boyle commented, "I'm
extremely pleased how we've positioned the Plutonic Mine, and
Superior Gold, for the future by meeting our short term production
goals while beginning to develop the full potential of the property
and the Company. The potential of the property is second to
none, the dedicated team is focussed on realizing it and I wish
them the best of luck in realizing that potential over the coming
months."
The Investor Relations function will be assumed by the Chief
Financial Officer, Paul Olmsted.
In addition, the Company is pleased to announce that it is in
the process of identifying and engaging qualified candidates to
fill a new role of VP/General Manager, Business Planning and
Development that will also be based in Perth, Australia and will report directly to
the CEO.
About Superior Gold
Superior Gold is a Canadian based gold producer that owns 100%
of the Plutonic Gold Operations located in Western Australia. The Plutonic Gold
Operations include the Plutonic underground gold mine and central
mill, numerous open pit projects including the Plutonic Main Pit
push-back project, the Hermes open pit projects and an interest in
the Bryah Basin joint venture. Superior Gold is focused on
expanding production at the Plutonic Gold Operations and building
an intermediate gold producer with superior returns for
shareholders.
Cautionary Note Regarding Forward Looking Information
This release may contain forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements of the Company to be
materially different from any future results, performance, or
achievements expressed or implied by the forward-looking
statements. Forward looking statements related to, among other
things, the appointment of replacement management. These
forward-looking statements are based on management's current
expectations and beliefs but given the uncertainties, assumptions
and risks, readers are cautioned not to place undue reliance on
such forward-looking statements or information. The Company
disclaims any obligation to update, or to publicly announce, any
such statements, events or developments except as required by
law.
Neither the TSX Venture Exchange (the "Exchange") not its
Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy
or accuracy of this release.
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SOURCE Superior Gold