(Alliance News) - Phoenix Copper Ltd on Thursday said it has promoted Chief Operating Officer Ryan McDermott to the role of chief executive officer effective immediately, replacing Dennis Thomas.
Thomas will continue to serve as non-executive director & vice president of investor relations, the company added.
McDermott was hired as chief operating officer of the precious metals exploration and development company in September 2018. He previously served as operations manager and chief geologist for Gold Hill Mining, geotechnical engineering manager at engineering company Kleinfelder West Inc, and general manager of waste management company US Ecology Idaho.
"We expect 2020 to be a significant year as we move from exploration and evaluation into project development, construction and production, which is anticipated in 2021. Ryan's appointment reflects this change in operational emphasis and our clear focus on expediting the timeframe to production from the Empire project in Idaho, USA. His existing role as chief executive of our Idaho-registered operating subsidiaries, his proven mine development and operating experience, and his excellent local contacts and knowledge, will be invaluable to this process," said Phoenix Chair Marcus Edwards-Jones.
"I would like to thank Dennis for his enormous contribution to date, and we are delighted that he remains with the company as a non-executive director and VP of investor relations, a role which I know he will fulfil with his usual energy and enthusiasm," he added.
Shares in the US-focused exploration company closed 10% lower at 9.00 pence each on Thursday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Phoenix Copper. (PXC)