Just a week after MinRex Resources (ASX:MRR) and Electrum Discovery (TSX-V:ELY) finalised their merger, the joint company has appointed Max Piirto as CEO, effective immediately.
Continuing to trade under the MinRex name and ticker on the Australian Securities Exchange, the merged company elected Piirto to lead the gold and copper explorer through development across its endowed gold assets.
Piirto has more than 17 years of experience in the mining industry, with a close focus on engineering, project delivery, mining operations, and industrial services.
He has held numerous senior executive roles across leading global engineering and construction firms, with his most recent role at Wood Group as Vice President.
At MinRex, Piirto will lead the company through its next phase of growth, focusing on expanding exploration and feasibility activities across its Serbian portfolio.
MinRex’s Serbian assets include the Tlamino Gold Project and Timok East Copper-Gold Project.
Non-Executive Director Glenn Whiddon describes Piirto as a “highly credentialed executive with deep experience in mining project development and international business leadership”.
“His appointment comes at a pivotal time for MinRex following the completion of the Electrum transaction,” Whiddon adds.
“The board is confident that Max’s leadership will be instrumental in advancing our projects and delivering on our growth strategy.”
Near-term exploration ahead
CEO Max Piirto says he is honoured to join the company in such a “defining moment”.
“The company is well positioned to deliver meaningful exploration success and create long-term value,” Piirto says.
“What is particularly compelling is the combination of near-term exploration upside and longer-term development optionality.
“Both projects have seen limited systematic investment in recent years, and we see a genuine opportunity to unlock value through modern exploration, targeted drilling, and a technically led approach to feasibility.”
As reported by Mining.com.au on 13 April, the two companies merged through the terms of MinRex acquiring 100% of Electrum’s shares.
The merged company now owns Electrum’s Tlamino Gold Project and Timok East Copper-Gold Project in Serbia, along with MinRex’s Sofala Gold Project in New South Wales.
Electrum shareholders received 7.9 MinRex shares for each share held.
Joining the MinRex board as a result of the merger is Electrum co-founder Elana Clarici, who brings more than 25 years of mining experience.
MinRex Resources is an Australian-based gold and copper explorer focused on developing its portfolio of projects.
Write to Maddison Elliott at Mining.com.au
Images: MinRex Resources
