(Alliance News) - Regency Mines PLC said Wednesday former chair and boss Andrew Bell has resigned as director of the exploration and development firm with immediate effect.
Bell has served as chair and chief executive at Regency until late January, having been at the firm for 15 years. He had remained a director of the firm.
"As the new directors have now become familiar with the business, the transition is complete, and this is the right time for me to leave the board and take on other responsibilities," Bell said.
"I shall of course be available to assist whenever this may be required, but under the leadership of Scott Kaintz and the new chairman the company is in good hands and with the nickel price finally beginning to improve, it has better prospects now than it has had for years," Bell added.
The move comes as Regency refocused its business on its nickel and vanadium interests as well as its UK energy storage development unit.
Shares in Regency were 10% lower at 0.056 pence in London on Wednesday.
