Gray leaves Scotgold as board hires CFO

Richard Gray
Richard Gray: developed Cononish

Former Scotgold Resources CEO Richard Gray, who led the development of the gold mine near Loch Lomond, is one of two departures from the board which sees the arrival of a chief financial officer and a non-executive director.

Mr Gray led operations at Cononish from 2014 and stepped down as CEO in February last year.

Philip Jackson, a director for 10 years, is also leaving the company and will be replaced as chair of the audit committee by Ian Proctor.

Sean Duffy, who has 25 years experience in the mining industry, has been appointed CFO, while Evan Spencer becomes non-executive and chairman of the technical committee.

All board changes are with immediate effect and the company said the new board appointments will further develop its leadership team as it continues to optimise its Cononish Gold Mine, Scotland’s first commercial gold mine, into a +23,500 ounce per annum run-rate operation by the end of Q1 2023.

Mr Duffy held senior roles at a number of mining companies including Adriatic Metals, Anglo Asian Mining and BHP Billiton.

Mr Spencer has held senior roles with Barrick Gold, Western Mining Corporation, Placer Dome, Kagara Corp, Gold Fields Ltd and Aditya Birla Minerals.

Peter Hetherington, chair of Scotgold Resources, said: “I want to thank both Richard and Philip for their long distinguished service to Scotgold.

“We are delighted to welcome Sean and Evan to the Board, they bring a wealth of experience in terms of financial, operational and market expertise and are ideally placed to help us deliver on our short and mid-long-term objectives.”

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