Solstice Gold names Mike Timmins as CEO

Solstice Gold Corp. [SGC-TSXV] on Tuesday called market veteran Mike Timmins as the business’s brand-new CEO. In his brand-new function, the business stated Timmins will continue to be a director of Solstice and will be based in Toronto.

Timmins is a mining executive with over 24 years of technical and business advancement experience at Agnico Eagle Mines Ltd. ( AEM– TSX, AEM-NYSE) and Placer Dome. He has substantial job experience in acquisitions and various tactical financial investments in the junior mining area. He has actually likewise operated in different functional capabilities for Placer Dome in the Red Lake, Ontario gold mining camp.

He has actually been called CEO after Solstice just recently revealed a $3.9 million offer to get a portfolio of royalty and residential or commercial property interests in 86 jobs situated in Ontario and Quebec.

Solstice stated it was purchasing the residential or commercial properties from a group of suppliers that consists of Perry English, an acclaimed Canadian prospector who has actually been thoroughly associated with Ontario’s mineral expedition market for 35 years.

The 86 tasks that Solstice consented to get consist of 45 that are presently under alternative to 3rd parties, of which 42 consist of an arrangement for net smelter return royalty interests (topic to the workout of alternatives), along with 10 stand-alone NSR royalty interests,

Transaction highlights consisted of 30 extra 100%- owned homes that are offered for alternative or sale.

The offer consisted of a buyout of the business’s RLX (Red Lake Extension) job consisting of NSR royalty. Solstice is presently performing broadened studies at RLX, a relocation it stated will result in drill targeting in the latter part of 2021.

As an outcome of the deal, RLX ends up being 100%- owned and royalty complimentary.

Solstice stated Timmins has the job management abilities that are essential to construct out the business’s organization strategy which looks for to drive investor worth through discovery on its 100%- owned tasks in Red Lake and its KGP job near the Meliadine cash cow in Nunavut.

The KGP task covers 886 square kilometres with specific other rights covering a nearby 683 square kilometres, all without any underlying choice or make in payments. Solstice stated $12 million has actually been purchased the task to date, resulting in the recognition of 10 square kilometres of gold stone field and the recognition of drill-ready targets.

” I’m really thrilled to be signing up with a group with a tactical land position in 2 of the most respected gold districts in Canada,” Timmins stated.

The business stated Marty Tunney will step down as president to pursue other endeavours, however will continue to proven shift and consulting services to Solstice on a continuing basis.

On October 18, 2021, Solstice shares were the same at 15 cents. The shares are presently selling a 52- week variety of 17.5 cents and $0.055