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TMAC appoints banker as CEO

Mining News - Published on Thu, 18 Jan 2018

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Mining Journal reported that last year, the company celebrated its first gold pour at the Hope Bay project in Canada but also struggled with commissioning the plant there. Neal led TMAC's 2015 IPO in his 21 years with BMO.

His current employer maintained TMAC's target price at CAD 9 (USD 7.25) - lower than the current USD 10.54/share - following the announcement.

TMAC chairman Mr Terry MacGibbon said the existing relationship was important in Neal getting the job.

Mr MacGibbon said that "I have known and worked closely with Jason over the past 15 years and have great respect for his team building, management and analytical skills and am most excited about Jason bringing his energy, strategic thinking and discipline to TMAC as we continue to grow the company."

Mr MacGibbon added that "Jason will have overall responsibility for our strategic planning, vision, growth, leadership and ensuring that we effectively carry out strategic plans approved by the board."

TMAC struggled with consistency from its plant at Hope Bay in 2017, although managed to improve recoveries from an average of 64% in the September quarter to 72% in the December quarter.

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Posted By : Rabi Wangkhem on Thu, 18 Jan 2018
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