Gordon Bogden, CEO of Alleycorp Mining, will be stepping down from his role, effective immediately. — Photo courtesy Alloycorp Alloycorp Mining Inc.
Gordon Bogden, CEO of Alleycorp Mining, will be stepping down from his role, effective immediately. — Photo courtesy Alloycorp
Alloycorp Mining Inc. (TSX VENTURE: AVT) ("Alloycorp" or the "Company") today announced that, effective immediately, Gordon J. Bogden has decided to step down as President and Chief Executive Officer ("CEO") in order to pursue other interests. He will also be stepping down from his position on the Company's Board of Directors.
The Company expects to retain an executive search firm to assist in conducting a global search for the CEO position. In the meantime, Mario Caron, Chairman of the Board, will temporarily assume all responsibilities of the CEO during the search process.
Mr. Caron said: "The Company would like to take this opportunity to thank Gordon for his service to Alloycorp. His leadership was instrumental in advancing the Avanti Kitsault project, and we wish him the best of luck in his future endeavours."
Mr. Bogden commented: "I am pleased to have been part of the rebranding of Alloycorp and am proud of the significant progress we've made on the Avanti Kitsault project with the support of its surrounding communities. I would like to thank everyone who has worked so tirelessly at Alloycorp during my tenure and wish them continued success."
About Avanti Kitsault
Avanti Kitsault is located in the Nass Valley area, approximately 140 km north of Prince Rupert, in British Columbia, Canada. Alloycorp holds a 100 percent interest in the Project through its wholly owned subsidiary, Avanti Kitsault Mine Ltd. Alloycorp is spending approximately $1 billion to develop Avanti Kitsault into one of the top four primary molybdenum mines in the world, expected to reach production in 2017.
Avanti Kitsault is fully permitted for construction, receiving its environmental assessment certificate from the Province of British Columbia in March of 2013, and an amended Mines Act permit on June 16, 2014. A Co-operation and Benefits Agreement was announced between Avanti Kitsault and the Nisga'a Lisims Government on June 3, 2014.
Molybdenum is a key alloying agent in the production of steel. Molybdenum is used to enhance strength, toughness, and wear and corrosion resistance to types of steels used in pipelines, storage tanks, bridges, aircraft engines and many, many other products. The versatility of molybdenum means that it plays a significant role in everyday life now and in the future.
About Alloycorp
Alloycorp is a TSX-Venture listed company headquartered in Toronto with an operations office in Vancouver. Alloycorp's strategy is to become the unique supplier of steel alloy metals. Cornerstone to this strategy is the development of the Avanti Kitsault project. Parallel to this, Alloycorp is seeking to grow through the acquisition of other assets with commodities that supply to the steel alloys industry.
