Join our daily newsletter At The Bell to receive exclusive market insights
- Peak Resources (PEK) has announced its Chief Executive Officer, Rocky Smith, will leave the company at the end of October
- The company plans to allocate Mr Smith’s duties across its remaining directors and executive team
- Peak Resources has made a number of changes to its management structure as it endeavours to focus on conserving cash while focussing on its application for a special mining licence (SML) in Tanzania.
- The board now consists of Jonathan Murray and Tony Pearson
- Shares in Peak Resources have been 3.7 per cent lower, trading for 2.6 cents
Peak Resources (PEK) has announced its Chief Executive Officer (CEO), Rocky Smith, will leave the company at the end of October.
Mr Smith started with the company as Chief Operating Officer in early 2016 and became CEO in November 2017.
The company plans to allocate Mr Smith’s duties across its remaining directors and executive team.
Peak Resources has made a number of changes to its management structure as it endeavours to focus on conserving cash while focussing on the company’s application for a small mining lease (SML) in Tanzania.
Last week the company announced its Chairman Peter Meurer had retired and Tony Pearson would step up as Interim Chair. Non-executive director Rob Sennit also elected to stand down from his role to focus on other interests, including his work as Senior Adviser with Appian Capital Advisory.
The board now consists of Jonathan Murray and Mr Pearson.
Mr Pearson thanked Mr Smith for his commitment to the Ngualla deposit and Teesside separation facility.
“The Board sincerely thanks Rocky for the enormous commitment he made relocating to Australia in early 2016 to join the Company and the drive and passion with which he has pursued Peak’s objectives,” he said.
“As previously advised Peak continues to focus its available resources on the grant of the SML,” he continued.
“The SML is the final major regulatory requirement for the combined project. Once approved, the Company will be in a position to negotiate an economic framework for the project with the Tanzanian Government and move forward with its project development plan,” he added.
Shares in Peak Resources have been 3.7 per cent lower, trading for 2.6 cents.
