CEO, board members resign from Otso Gold
Board members also left the company.
The firm Alvarez & Marsal Nordic AB has been appointed to help with company restructuring. Interim CEO is Dan Andersson.
"Mr. Dan Andersson, Managing Director and Head of Nordic Operational Restructuring and CRO Services with Alvarez & Marsal Restructuring and Turnaround, will act as CRO and interim Group Chief Executive Officer (CEO) responsible for day-to-day operation of the Company, bringing over 15 years of experience as a Chief Restructuring Officer and board advisor," writes the company in a news release.
On its website the company describes its Otso Gold Mine Finland project as a fully licensed and permitted opencut mining operation with all infrastructure in place. The company announced first pour earlier this month.
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"As part of the Company's ongoing efforts to return the Otso Gold Mine to full commercial production, the Company has retained the services of a CRO in order to provide additional support and expertise to the board of directors of the Company in connection with the ramp-up of the Company's operations. These appointments continue the Company's efforts to ensure operations are long-term, sustainable, profitable and conducted in accordance with best practices.