Scotgold says CFO Duffy also to be interim CEO

Scotgold Resources Limited, which owns the Cononish Gold and Silver Mine near Tyndrum, announced on Wednesday that Sean Duffy, the company’s CFO and board director, has been appointed as interim CEO with immediate effect, whilst remaining as CFO.

On June 1, Scotgold said former CEO Phil Day had notified the board of his intention to resign “and given notice under his contract of employment, citing a desire to spend more time with his family members in Australia.”

On May 15, Scotgold said the firm’s ability “to continue as a going concern is entirely dependent on the quantity and grade of ore that is produced from now on.”

Sean Duffy

On Wednesday, Scotland’s first commercial gold producer said: “Sean Duffy has extensive experience in the mining industry supporting multinational and junior mining companies develop and expand operations through construction and into production.

“A career spanning +25 years, Mr. Duffy held senior finance positions for BHP Billiton’s global operations, including Finance Director and interim CEO of BHP Billiton Indonesia, overseeing management of its multi-stage coal operations.

“Previously Sean was CFO and company secretary for ASX and UK-listed Adriatic Metals Plc, TSX-V and ASX-listed Black Dragon Gold and for TSX-V-listed Asian Mineral Resources and was CFO and company secretary for AIM-listed Anglo Asian Mining Plc, supporting Anglo Asian Mining with early-stage gold production from its Gedabek mining operation in Azerbaijan, building the operation into a circa 50,000 ounce per annum producer during his tenure.”

Scotgold Resources chairman Peter Hetherington said: “With significant mining expertise, Sean will step into the role of interim CEO until a permanent replacement is appointed.

“Sean, has the knowledge, relationships, and expertise to manage on-going workstreams, ensuring continuity in our operations to drive the long hole stope mine plan and development of our Cononish gold mine towards full production.”