(Alliance News) - SolGold PLC on Monday made a "very important" appointment, with Ingo Hofmaier joining the firm from investment bankers Hannam & Partners.
Hofmaier will become executive general manager of Project & Corporate Finance on September 9. He previously has worked as a business development executive at Rio Tinto PLC.
Chief Executive Nick Mather said: "Ingo's appointment is very important for SolGold and underscores the company's commitment to the progression of the Cascabel project through pre-feasibility and definitive feasibility by end-2020.
"Ingo will be focusing on the establishment of a development financing solution for SolGold's share of development costs incurred by ENSA on the Cascabel project. His comprehensive understanding of SolGold and the project, his experience in debt and equity capital markets and financings of this nature, and his deep understanding of the global commodity markets, particularly copper and gold, auger well for delivery of the financing package," Mather continued.
"He is an outstanding appointment, which we indicated to the market as part of the effort to build up the project delivery team, and has the full backing of the board to do the job for SolGold."
SolGold was 0.7% higher on Monday morning at 30.25 pence each.
SolGold (SOLG)